MAXWELL GOMERA: Financing from within — a new era of self-sufficiency for African development
Reforming pension fund mandates and rethinking sovereign wealth funds are key to shifting towards internal financing
17 September 2024 - 05:00
The streets of Nairobi erupted in chaos in July and, tragically, 39 lives were lost and hundreds more were injured as mainly young Kenyans protested against tax hikes and the soaring cost of living. The unrest in Kenya is not an isolated incident, but a symptom of a broader African malaise.
Protests, while often triggered by grievances such as tax increases or political deadlocks, mask a deeper, more systemic problem: African economies are failing to create jobs at a rate commensurate with the flood of young people entering the job market, while economic inequality continues to widen. ..
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