Nice to see a good African author on substack writing about Africa. There are few and I have searched.
It may be your speciality will be the petrostates but if you have time the SADC states and comment thereon would be if interest to myself.
Angola is an example common to Africa which has hindered the economic development for a long time.
A bad president burns the house. The good president spends his time putting out the fires but doesn't have much time to build a better house as a result of the fire fighting he needs to do. And do on it goes with much economic development missed out.
Another thing, I don't think any of Angola's presidents are particularly bad. Santos,despite this corruption,was able use the commodity boom to bring Angola from a low income nation to a middle income nation quickly two years after the Civil war. Half of sub sahara is still low income. The problem is that he was unable to diversify the economy beyond oil. Oil has a good effect and a bad effect. It brings quick booms to the economy and government revenue, it brings US dollars making it easier to import goods (like machines for farmers, food, medicine, and etc from abroad). But it makes the currency stronger, as a result, goods become too expensive to make a globally competive manufacturing sector. Its not just a problem in Angola, Russia and Venezuela also had manufacturing suffer during the oil booms.
De Santos was a big problem through nepotism and corruption via his daughter and no doubt others.
He also seemed too China orientated and so sold a lot of his oil to China. The price was unknown.
Also the locals complained about Chinese influence and many of the latter were expelled.
I do agree with your points about the oil boom making a strong currency and the subsequent effect on manufacturing and the resultant effect on diversification.
Nice to see a good African author on substack writing about Africa. There are few and I have searched.
It may be your speciality will be the petrostates but if you have time the SADC states and comment thereon would be if interest to myself.
Angola is an example common to Africa which has hindered the economic development for a long time.
A bad president burns the house. The good president spends his time putting out the fires but doesn't have much time to build a better house as a result of the fire fighting he needs to do. And do on it goes with much economic development missed out.
Just read and subscribe to my substack! I have a southern African articles that aren't petro states:
Botswana:
https://yawboadu.substack.com/p/botswanas-economy-in-nine-minutes
Mozambique:
https://open.substack.com/pub/yawboadu/p/economic-and-geopolitical-history?utm_source=direct&r=garki&utm_campaign=post&utm_medium=web
You should say that your subscription is free in a more prominent position. Done!
Another thing, I don't think any of Angola's presidents are particularly bad. Santos,despite this corruption,was able use the commodity boom to bring Angola from a low income nation to a middle income nation quickly two years after the Civil war. Half of sub sahara is still low income. The problem is that he was unable to diversify the economy beyond oil. Oil has a good effect and a bad effect. It brings quick booms to the economy and government revenue, it brings US dollars making it easier to import goods (like machines for farmers, food, medicine, and etc from abroad). But it makes the currency stronger, as a result, goods become too expensive to make a globally competive manufacturing sector. Its not just a problem in Angola, Russia and Venezuela also had manufacturing suffer during the oil booms.
I think the current president is very good.
De Santos was a big problem through nepotism and corruption via his daughter and no doubt others.
He also seemed too China orientated and so sold a lot of his oil to China. The price was unknown.
Also the locals complained about Chinese influence and many of the latter were expelled.
I do agree with your points about the oil boom making a strong currency and the subsequent effect on manufacturing and the resultant effect on diversification.