Poverty Reduction Strategies: An Assessment of Development Initiatives in Africa

Abstract

The objective of virtually all development initiatives in Africa is poverty reduction. The crippling challenge of poverty facing most African states is, by no means, a fresh one. However, the problem has assumed a disturbing dimension at the turn of the 21st Century, if we compare African states with emerging economies in the global south. The paper adopts functionalism as a theoretical framework due to the fact that African states have embraced the idea of integration, with African Union (AU) being a potential instrument of realising their d     `evelopment aspirations. Relying on secondary sources of data collection, it sought to gain in-depth understanding of previous studies, in order to gain fresh insight and enriched perspectives. The paper examined selected continental and global development initiatives, as well as their impact towards achieving the goal of poverty reduction in Africa. While noting that political stability is a major precondition for economic growth, the paper noted that most African states are at sub-optimal level of economic performance because of high level of impunity among the political leadership, abuse of due process and failure to adhere to global best practices. The paper observed that the realities of the present interdependent world system dictate that there is no alternative to global partnership if African states are desirous to make a break from their stunted growth and vicious cycle of poverty. The paper recommends that African states need to re-tool and refine their development strategies along the Asian trajectory. It concludes that only an African consensus on the utility of an integration framework can help advance the goal of poverty reduction in the continent.