Imperial powers have interfered in the monetary system through frequent devaluation. For example in 1987 the Uganda shilling was devalued in the famous “knocking off three zeroes.” Likewise, the Tanzania currency was also devalued using the dollar, in this way African countries are made weaker and render their economic activities to be controlled by the west.
The loss of sovereignty by African countries where decisions are made by imperial powers forexample western countries donate aid with ties where the projects are dictated and supervised by the imperial powers and these projects may not be useful to the recipient countries like the valley dam saga in Uganda.
The continued instabilities in Africa where frequent military coups have occurred, accompanied by assassinations of leaders for example Sadat of Egypt, Lumumba of Congo and Ghadafi of Libya. It is alleged that most of these are sponsored by the west.
The sabotage of African unity where unity of Africa has remained a political dream and regional groupings like EAC have been sabotaged. In 1980 USA used Kenya to boycott the Tripoli OAU summit. All this is Neo colonialism at play.
Increasing cultural degeneration where European countries continue to make sure that Africa cultures remain under developed in favour of foreign ones which have led to White men in black skins like Charles Njojo, Michael Jackson.
The low profile development of technology in Africa where inappropriate machines are brought to Africa, the Africans lack the knowledge to operate them, such that foreign expatriates are brought leading to loss of initiatives and repatriation of profits.
Neo-colonialism has led to increased exploitation of African resources by imperial power. These intervene in groups but at the end of the day a big percentage sale of minerals is repatriated back into the imperial nations.
Further neo-colonialism has resulted into the existence of puppet leaders. These tend to promote the imperial interests rather than the interests of fellow Africans. This is true with most leaders in the 3rd world.
Neo-colonialism has led to the ideological differences with in Africa. The African countries have either leaned to the former eastern block of socialism or the present Western bloc of capitalism. The imperial powers are mostly on the capitalism side and these tend to extend there influence to Africa with an aim of even suffocating the remaining pockets of socialism. This has severed the resources of African countries.
Neo-colonialism has resulted into the increased unemployment in Africa as seen through the existing education system that prepares job seekers than job makers.
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