African countries like Botswana, Mauritius, Seychelles demonstrated that success is achievable through building better institutions, maintaining stable property rights, investing in education and public infrastructure, managing resources well, and ensuring a fair justice system. These countries have shown that with these foundational elements in place, growth and development are attainable, debunking the notion that all African countries are destined to fail.
We were lucky enough to talk with Prof. Asemoglu of MIT about why Africa lags economically despite so much aid and resources being pumped into the country each year. From the impact of institutions to the legacy of policies, we talked about the reasons behind the continent's challenges and the potential paths forward that might actually help improve living conditions in African nations within our lifetimes.
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