TY - JOUR
T1 - Africapitalist foundations
T2 - the political economy of philanthropy of the super-rich in neoliberal Africa
AU - Iheduru, Okechukwu C.
N1 - Publisher Copyright:
© 2024 Canadian Association for the Study of International Development (CASID).
PY - 2024
Y1 - 2024
N2 - “Africapitalist foundations,” founded by iconic African billionaires who profess to integrate profit motive with pan-African identity and also position indigenous businesses as lead-agents in national and regional economic development (“Africapitalism”), emblematize movements to decolonize aid and development in Africa. A content analysis of the market-based and solidaristic philanthropic activities of five such foundations underline recent mutations of neoliberal capitalism that created enormous wealth and large-scale philanthropy for a few but also unleashed profound economic crisis for many Africans. By combining profit and emotion, Africapitalist philanthropy is disrupting several aspects of aid-giving in Africa. Africapitalists are, however, too weak to displace dominant actors in Africa’s aid and development industry; they entrench hegemonic capitalism by not addressing systemic injustices and maldistribution of power and resources that necessitate charity.
AB - “Africapitalist foundations,” founded by iconic African billionaires who profess to integrate profit motive with pan-African identity and also position indigenous businesses as lead-agents in national and regional economic development (“Africapitalism”), emblematize movements to decolonize aid and development in Africa. A content analysis of the market-based and solidaristic philanthropic activities of five such foundations underline recent mutations of neoliberal capitalism that created enormous wealth and large-scale philanthropy for a few but also unleashed profound economic crisis for many Africans. By combining profit and emotion, Africapitalist philanthropy is disrupting several aspects of aid-giving in Africa. Africapitalists are, however, too weak to displace dominant actors in Africa’s aid and development industry; they entrench hegemonic capitalism by not addressing systemic injustices and maldistribution of power and resources that necessitate charity.
KW - Africa
KW - Africapitalism
KW - Philanthropic foundations
KW - aid and development
KW - pan-Africanism
KW - philanthro-capitalism
UR - http://www.scopus.com/inward/record.url?scp=85205074675&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85205074675&partnerID=8YFLogxK
U2 - 10.1080/02255189.2024.2393586
DO - 10.1080/02255189.2024.2393586
M3 - Article
AN - SCOPUS:85205074675
SN - 0225-5189
VL - 45
SP - 671
EP - 694
JO - Canadian Journal of Development Studies
JF - Canadian Journal of Development Studies
IS - 4
ER -