Quercus £7.99 (277pp) (free p&p) from the Independent Bookshop: 08430 600 030
Brodeck's Report, By Philippe Claudel
Friday 22 January 2010
Liberal hackles may rise when a former executive at Goldman Sachs publishes a polemic claiming that Africa's "cycle of dysfunction" is mainly caused by aid. But this knee-jerk reaction may be mitigated when you learn that the author is a young black woman from Zambia.
Moyo's case gains strength when you learn that $10 billion of aid money is siphoned off from the continent each year. Zaire's Mobutu is estimated to have stolen $5 billion. Despite receiving $1 trillion in development aid in the past half-century, much of Africa is going backwards. When aid peaked, poverty in Africa rose from 11 to 66 per cent. Moyo urges the West to copy China's direct investment: "Investment money is not as easy to steal."
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