Will Africa leave the World Bank behind?

Crucially, the managers at METEC will be driven to develop their skills and technology with the help of others, which was one of the keys to POSCO’s success. METEC has brought in France’s Alstom, China’s Poly Group and United States-based company Spire. “We’re doing this in collaboration,” METEC spokesman Michael Desta told reporters. “We want to learn from them.”

If African governments can rein in their entrepreneurs, then they may be tempted to follow the lead of Ethiopia, Morocco and others. If they cannot, perhaps they would be better off heeding the Bank’s warnings.

Republished from The Africa Report

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