Essay
economic development
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describe problems that causes slowly economic development in africa and how to solve those issues.
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ASSIGNMENT COVER SHEETYEAR OF STUDY: 2021
COURSE: B. Ed
By submitting this assignment for evaluation, I acknowledge that the assignment is my
own work, and where the work of others has been used it has been appropriately cited
and referenced.
NAME: Mthembu Sinenkosi N STUDENT N0: 217003440
NAME OF MODULE: Africa in a Globalising World
ASSIGNMENT TOPIC: The challenges to Africa’s economic development and ways in which
Africa’s economy can be reconstructed.
MARKS:
Examiner
COMMENTS
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, Sometimes the past does affect the present, by that I mean the situations that
Africa’s continent has gone through long time ago have an impact on today’s
challenges to economic development. Economic development is a process whereby
an economy’s real income of national as well as per capita income over a long
period of time. In this essay I will be discussing the challenges to Africa’s economic
development and also suggest ways in which Africa’s economy can be
reconstructed. The challenges are as follows: corruption, unemployment, population
growth, and economic inequality.
Africa is blessed with abundant natural resources despite this; continent remains the
poorest and underdeveloped among the continent of the world. The argument
attributing African underdevelopment to the colonial powers exploitation of the
continent is justifiable; however it has been over forty decades the colonial masters
left. Forty decades is enough to move the continent forward, if countries like India,
Brazil, Mexico, Chile, and Indonesia that were at the same level of development with
most African countries can now become the leading emerging economies of the
world, then something is amiss with Africa (Rodney, 1982).The estimated sum of
$148 billion is embezzled in Africa yearly by political leaders, multinational
companies, business executives and the civil servants with the aid of financial
institutions the Europe and North America (Adusei, 2009).
Unemployment it is a term referred to an individual(s) who are seeking a job that are
unable to find a job. It if those people in the workforce or pool of people who are
available for work that does not have a appropriate job. High unemployment rates
means the economy is not able to generate enough jobs for people seeking work
(Dennis, 2021). Unemployment is the main concern in African continent, in such a
way that most African youth it worries them. Report shows that youth between 18
and 35 years of age identified economic issues as their primary concern, with
unemployment being the highest ranked economic development issue (Ighobor,
2020).
Population growth means an increase in the number of individuals in a population.
Many nations in Africa with rapid population growth have low standards of living, for
examples, D.R. Congo, Ethiopia, Tanzania, Mozambique, Kenya, and etc. Rapid
increase in population means that there will be an increase in dependency ratio. Tis
Page | 2
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