GLOBALIZATION AND ITS EFFECT ON AFRICAN DEVELOPMENT

Abstract

There are obvious widening gap in the economies and societies of the North and South. Many factors are responsible for these, and include the historical role of colonialism and imperialism, the role of multinational corporations in Third World countries, as well as dependency and neo-imperialism. Put differently, globalism is responsible for the widening gap between develop and underdeveloped countries. Against this background, this essay examines the impact of globalism on African development. The research adopted the qualitative research methodology in its analysis. It examines the impact of globalism, starting from the structure and legacy of the colonial economy and its effects on African development and finds that though colonialism is no longer in operation in Africa, the economic measures adopted at the time has continued to affect the nature and character of the development problems African nations’ face in the post-independence era. In other words, globalization is another new method of recolonialization of African countries by those developed nations who where hitherto not part of the old colonialiszation to explore virgin land to operate and be part of the exploiters of the African countries. In order for Africa to attain development, it is recommended that they must first reassume responsibility for plotting the paths of development in their respective countries.