Dambisa Moyo talks about her book, Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa, in a conversation with Peter Robinson. This program was recorded as a part of the Hoover Institution's interview series, "Uncommon Knowledge," on June 5, 2009.
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During the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Dambisa Moyo asserts, however, that this assistance has made African people no better off. "Africa's real per capita income today is lower than in the 1970s, with over half of the 700 million Africans living on less than a dollar a day."
Eschewing the "glamour aid" of celebrities such as Bob Geldof and Bono, she argues that the key to transforming African countries is to make them less reliant on foreign aid and compel them to "enforce rules of prudence and not live beyond their means." - Hoover Institution
Dambisa Moyo was born and raised in Zambia, Southern Africa. She completed a PhD in Economics at Oxford University and holds a Master's from Harvard University. She completed a Bachelor's degree in Chemistry and MBA in Finance at the American University in Washington D.C.
She worked at Goldman Sachs for 8 years in the debt capital markets, hedge fund coverage and in global macroeconomics teams. Previously, she worked at the World Bank in Washington D.C. Dambisa is a member of the Boards of Lundin Petroleum and SAB Miller.
Moyo is a Patron for Absolute Return for Kids (ARK), a hedge fund supported children's charity. She serves on the Boards of the Lundin for Africa Foundation and Room to Read, an educational charity.
Moyo argues for more innovative ways for Africa to finance development including trade with China, accessing the capital markets, and microfinance.
Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits Hoover's quarterly journal, the Hoover Digest, and hosts Hoover's television program, Uncommon Knowledge.
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