Africas Third Liberation

Africa has experienced two liberations: the first from colonial and racist regimes, and the second from the autocrats who often followed foreign rule. African countries now have the potential to undertake a third liberation--from political economies chracterised by graft, crony capitalism, rent-seeking, elitism and social inequality. This third liberation will open up the economic space in which business can compete--a necessary condition for expanding employment. During the 2000s, the continent had its best growth decade on record since independence. High commodity prices offer a launch pad…