GLOBALISATION AND POVERTY ERADICATION IN AFRICA

Abstract

The study explored the nexus between the contemporary globalization prescriptions and incidence of poverty in Africa. The paper began with the premise that most states in Africa are thoroughly poor, manifesting deep-rooted deprivation, alienation and penury. Worse still, efforts by successive political leadership to redress the orgy situation rather reproduce vicious cycle of despondent penury. Meanwhile, we based our analysis on conscionable blend of Marxist political economy approach and complex interdependent analysis; and hence noted that the world of man moves on the fulcrum of matter and interdependence of various entities. Thus, globalization, as a process, impacts on the character and intensity of the productive forces. These further widen inequality among states and peripherised fledgling economies. Indeed, most economies in Africa are peripheral and thus become more stagnated as poverty incidences are further exacerbated. To turn around these economies, we recommended effective autochthonous regionalism rooted in institutionalization of economic and political freedom, and also in promoting inter and intra regional trade as well as investment opportunities.