Privatization Profligate in the African Continent: An Impediment of Political, Economic and Social Progress towards 2030

Abstract

The paper raises the argument that the privatization of the continent that was meant to promote development because of its assumed efficiency, will instead hamper the efforts by the continent to realize the Sustainable Development Goals (SDGs). The continent cannot end poverty, hunger, achieve good health and well-being, quality education, gender equality, clean water and sanitation, affordable and clean energy and decent work and economic growth because of its re-colonialization by the corporations; most of which have no interest in the betterment of Africa economically, politically, socially and technologically. The continent has realized unprecedented levels of poverty, poor health services and poor education sector. This can partly be attributed to the fact that the continent has surrendered its political and economic power to the external forces. There is a clear indication that the privatization process has given power back to the colonial imperialist forces after what was believed to be the independence of the continent. Evidently, the continent has experienced the capturing of the ruling elite by foreign forces that have imposed privatization in Africa, which has made the impecunious governments to be forced to abdicate their responsibilities by surrendering their powers to exotic forces. The paper further argues that in some instances the state apparatus are used as conduits through which resources that could be expended to fulfil the SDGs are channeled to foreign forces, leaving Africa without the necessary resources to meet the exigencies of its people. The important resources that could be expended to ameliorate the living conditions of the African people are instead exported from the continent through private entities such as commercial foreign banks

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