(cont'd, Dead Aid)
Let's remember that the goal of all monetary aid is prosperity for the nation's people - not extravagance for their rulers.
Sadly, the result is often the latter. "Africa's first billionaire woman" is Isabel dos Santos, daughter of Angola's president. While 70% of the Angolan people live on $2 per day, she has managed to amass a fortune of 3 billion dollars.
How? Forbes has been tracing her climb to riches: "As best as we can trace, every major Angolan investment held by [Isabel] Dos Santos stems either from taking a chunk of a company that wants to do business in the country or from a stroke of the president’s pen that cut her into the action."
Moyo and George Ayittey and others believe that the millions of dollars of aid that flow into African nations is easily diverted toward the personal wealth of corrupt, uncaring, unwise leaders, leaving little or nothing for the prosperity of the people.
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