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Author: Moses Khisa. PHOTO/FILE
What you need to know:
- Ethiopia is one exception that defied the World Bank and IMF, perhaps driven by its pride and illustrious history, including defeating European colonial conquest.
One of the most enduring realities of Africa since the time of colonial conquest is the continent’s status as a reservoir of raw materials. Raw coffee beans, raw cotton, copper, gold and other precious metals and minerals.
The logic of capitalist exploitation and, indeed, the colonial project was to set up colonies for extraction cheaply and as markets for expensive finished products. This was true 150 years ago. It is true today.
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Shilling touches Shs4,500, weakest in 33 yearsThe slide is being driven by panic buying, huge demand from the energy sector and offshore investors attempting to exit Uganda's bond market
