Dr Suruma: Neocolonialists Deny Ugandans Control Of Capital To Keep Them Labourers, Slaves
Dr Ezra Suruma
This is an article by former Finance Minister Ezra Suruma on why Ugandans will remain poor as long as they don’t control capital.
By Dr Ezra Suruma
One of the most blatant aims of new colonialism (neocolonialism) is to ensure that Africans are denied access and control of capital.
The evidence is overwhelming.
It started in 1987 when the World Bank financed consultants to do “diagnostic “ studies of locally owned banks: Bank of Uganda, Uganda Development Bank, Cooperative Bank and Uganda Commercial Bank.
The findings were that all these banks were poorly managed, insolvent and candidates for restructuring, closure and privatization.
The financial sector reform that ensued is discussed in my book: Advancing the Ugandan Economy, published by the Brooking...