THE World Bank and the International Monetary Fund (IMF) were set up during the end of the World War II to rebuild the economies of Europe. However, in order for the world bank and the IMF to implement their policies, they began offering loans to poor countries but only if the poor countries privatized their economies and allowed western corporations an almost free access to their raw materials and markets. That was a poverty trap and many poor countries realized it when it was too late. We were already in chains. Continue reading How the World Bank and the IMF Destroy Africa→
Ghana stunned by Libya in the 2014 CHAN finals while the curse of the host nation continues
By Alula Abraha,
Libya had triumphed over Ghana in the final that saw the two fatigued nations slogging it out their guts to a goal-less draw late last night to decide the 3rd CHAN African championship.
It’s the second time the two sides played with each other in the same tournament after they had tied 1-1 in their group stage, where Ghana qualified as a group winner and Libya as a runner-up. But Libya was the one that had asserted its upper hand in the most important match of the tournament. Both teams had won their subsequent semi-finals in penalty-shoot-out after both drew 0-0 after 120 minutes of extra-time play. Continue reading Ghana Stunned by Libya in the 2014 CHAN Championship→
AngloGold Ashanti (NYSE:AU) (JSE:ANG) (ASX:AGG), the world’s third-largest gold producer, may have to sell or closedown its flagship Obuasi gold mine in Ghana, as operations are becoming unsustainable.
Professor Ali A. Mazrui, Director of the Institute of Global Cultural Studies and Albert Schweitzer Professor in the Humanities State University of New York, in his 2003 article “Between Pax Americana and Pax Africana“, wrote about the effects of the September 11 attacks on Africa and US policy in Africa . Professor Mazrui, in concluding his article asked the following:
“…will American resources help to strengthen Pax Africana, or will American power simply turn it into a handmaiden of Pax Americana ? How can we avoid the Americanization of Pax Africana ?…”