Forbes – Self Help Africa: Why Only Profits Can Cure Poverty

21 May

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Prof·it /ˈpräfit/ noun. A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

The importance of profiting from one’s efforts ought to be an easy concept to embrace. It is why humans no longer live in caves. If an endeavor—any endeavor—produces more value than it consumes, it will not only pay for itself, but create the means for growth. In contrast, endeavors that persistently generate losses are destined to wither and die.

Africa has long been a place where charity goes to die. Developed countries have been pumping charity into Africa for as long as photos of starving children have been used to capture our sympathy. Tragically, most of this aid has been wasted, either stolen by corrupt local politicians or handed out in a way that traps people in a state of dependency that only generates more need for aid. The result? A continent mired in poverty, where economic growth seems an elusive goal.

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