Neocolonialism: How Western Corporations Are Exploiting Africa
The ongoing cycle of poverty in Africa and the failure of development.
The African continent has the natural resources and commercial power to become the richest continent in the world but oppression, bribery, and exploitation by the west hinder its’ development.
Neo-colonialism is no doubt the number one problem to Africa’s economic development. Many would think that Africa gained independence from the imperialist western countries, but to what extent? It is very much debatable.
This term was coined by the first president of independent Ghana Kwame Nkrumah, he defined the term as:
‘The essence of neocolonialism is that the State which is the subject to it is, in theory, independent and has all the outward trappings of international sovereignty. In reality, its economic system and thus its political policy is directed from outside.’
This was written in his book ‘Neo-colonialism: The Last Stage of Imperialism’ in 1965 but it attracted a lot of criticism. Consequently, he was overthrown by a military coup abetted by Washington. Even from this example, one can see how much the USA is embedded in political decisions in Africa.
