Africa’s urban revolution in the 20th century

In Memory Bank:

...Africa’s new leaders thought they were generating modern economies, with ambitions for public expenditure to match, but in reality they were erecting fragile states whose economic base was the same backward agriculture as before. As Frantz Fanon predicted, this weakness inexorably led them to exchange the democratic legitimacy of the independence struggle for dependence on foreign powers. These ruling elites first relied on revenues from agricultural exports, then on loans contracted under dubious circumstances, finally on the financial monopoly that came from being licensed to supervise their country’s relations with global capitalism. But this bonanza was switched off in the 1980s, when foreign capital felt that it could dispense with the mediation of local state powers and concentrated on collecting debts from them. Many governments were made bankrupt and some simply collapsed into civil war.