Failure of Foreign Aid in Africa: Recourse to Alternatives

Africa has been a in a perpetual search of economic development ever since the era of independence. The foreign aid contracted under various forms have failed to bring about economic development due to unbearable constitutionality rendering futile and volatile the foreign Aid.None of the alternatives seem fruitful: The hailed homegrown initiatives meant to offer alternatives in socioeconomic development are shrouded by inherent obstacles slowing down economic growth processes. Foreign Aid remain undesirable due to its inability to eradicate poverty despite laudable economic impact it can bring in some selected cases. The governmental organizations have done much to reduce vulnerability in their relief services delivery but, Africa needs more than that.Social entrepreneurship was seen as one of the way out due to their ability to blend for profit and non profit in creating value through their new technological innovation in service delivery despite the fact that Africa needs real infrastructural investment. Public-Private partnerships is here described as a way to go,a possible way out towards economic development of Africa.