Former President Olusegun Obasanjo has said the inability of many African leaders to grasp basic economic principles continues to hold the continent back from meaningful development, warning that the pattern of mismanagement and dependence on aid is unsustainable.
Speaking on Thursday at the 32nd Afreximbank Annual Meetings in Abuja, Obasanjo said Africa’s economic stagnation stems largely from poor leadership and a tendency to copy Western models without context or adaptation.
He made these comments during a panel session themed “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?”, moderated by CNBC Africa’s Senior Anchor, Ms Fifi Peters.
