Colonialism disguised as “development loans” which are designed to fail and lock nations into onerous repayment for loans which create no economic benefits by design.
“Zambia spends four dollars on debt service for every one dollar on health while infant mortality rate rises. In Uganda, the government spends US$3 per person annually on health and education and US$ 17 per person annually on debt repayment, while in every 5 Ugandan children die of preventable diseases before reaching the age of 5 years!”
Also, African governments tend to tax labor and income (as the IMF would like) instead of their land and mineral wealth, which means that foreign corporations often get to extract their resources and very low costs without returning much value to the local economies, yet their labor markets are unattractive for investment because not only is there no infrastructure, there are also labor taxes.
Almost all cocoa is grown in Africa, for example, but there’s not a single chocolate factory on the continent. And of course all the real money is in finished goods, not raw materials.