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Philanthropist Calls African Leaders out for 'Mismanaging Resources'

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Special to the NNPA from the Global Information Network –

On a speaking tour at several African venues, telcom magnate and founder of the Mo Ibrahim Foundation for Good Governance, philanthropist Ibrahim scolded African leaders for misusing valuable national resources.

Citing Nigeria for its rampant corruption, he observed: “Africans do excellently well when they are in Europe and United States, but they refuse to return home to develop and invest due to bad governance.”

The Sudanese-born foundation chief said, "It is time for us to accept that in a globalized marketplace, many African countries are sub-scale - are economically unviable," he said.

"The regional economic integration of Africa is vital if we are to survive, let alone compete. The GDP of all of Africa is less than that of Brazil. It is time to wake up." Still, in an interview with The Africa Report, Ibrahim said Africa was a better place to make money than the U.S. “I made millions and billions investing here,” he said. “If you want to waste all your money in American real estate, that’s your business.”

The Mo Ibrahim Foundation rewards good governance and great leadership in Africa. Dr Ibrahim has been a vocal critic of the fragmented nature of the African continent which, he says, makes Africa less likely to survive with small and economically isolated countries.

"Who are we to think that we can have 53 tiny little countries and be ready to compete with China, India, Europe, the Americans? It is a fallacy.”

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