By the mid-1970s, in virtually all of Africa, strategies of modernization and technology transfer had clearly failed to initiate self-sustained processes of development. Government intervention and centralized planning had spurred economic disaster, rather than growth. In the world of finance,...

The setting up of banking facilities in rural areas may have a significant impact on savings mobilization and contribute to the monetization of the economy as well as to agricultural development. Unfortunately this has not been the case in most of African countries south of Sahara. The paper...