Dr. Kingsley Moghalu, President of the African School of Governance and a former deputy governor of the Central Bank of Nigeria, has delivered a scathing critique of Africa’s economic management, calling out the continent’s reliance on ineffective, borrowed ideologies devoid of philosophical depth.

Speaking during the Toyin Falola Interviews on Monday, themed “Leadership in Africa,” Moghalu described many economic strategies adopted by African governments as “empty.” He condemned the uncritical adoption of Western economic models, arguing that these frameworks often fail to address Africa’s unique realities due to a lack of understanding of their core principles.

“Economic thinking in many African countries is full of received wisdom that does not work,” Moghalu lamented, emphasizing the absence of a coherent philosophical framework tailored to Africa’s needs. He highlighted the distinction between Western shareholder capitalism and stakeholder capitalism, concepts often misapplied in African contexts.

Moghalu contrasted the West’s focus on individual rights and institutional strength with Asia’s long-term planning and collective priorities, underscoring the need for Africa to forge its own path. “The West deifies the individual, while the East subordinates the individual to the collective,” he noted, pointing to the philosophical underpinnings driving development in other regions.

Duality and Governance Challenges

The governance dilemma in Africa, Moghalu argued, is exacerbated by a duality between formal constitutional systems and traditional cultural practices. “You have leaders operating within a constitutional framework but psychologically rooted in a 19th-century culture of traditional subservience,” he observed. This dichotomy, he believes, fosters dysfunctional governance and impedes progress.

He proposed integrating traditional and modern systems more effectively, advocating for traditional rulers to play advisory roles in governance while remaining independent of political appointments.

Ethics, Education, and Leadership

Moghalu stressed the importance of ethical leadership in addressing corruption and building sustainable systems. Highlighting Rwanda as a model for low tolerance of corruption, he called for ethics education to be compulsory in African schools. “The absence of values, ethics, and discipline explains why corruption is so pervasive,” he stated.

He concluded by urging African leaders to prioritize philosophical and ethical foundations in their policymaking, warning that without these elements, attempts at reform would remain superficial and ineffective.