Abstract:
In this work, I argued that the atmosphere that pervades today's Africa is that of uncertainty and despair. Pessimism now takes the place of the euphoria of the post-independence era. Old regimes are challenged and sometimes ousted. Old ideologies are contested and often discarded. New but harsh economic and social realities make their debuts on the socio-political landscape of Africa as the day slips by. The continent now wears the gloomy picture painted of it some years back, as the scene of a strange and stirring commotion. Many states have literally collapsed. More are daily being packaged for destruction.
The carnage in Somalia, Zimbabwe, Chad, not to talk of the Sociopolitical crisis in Sudan and Congo, to mention only a few of the many theatres of war and human slaughter has contributed to the underdevelopment in Africa. This reminds us about how desperate the need for evolving an enduring and workable solution to the African crisis has become. This development has also made the question "What is the way out?" very germane in today's Africa.
From the research, it is discovered that development has failed in Africa because most African leaders, with few exceptions, were caught between satisfying their own interests and the developmental challenges of nation building. They are also saddled with strategies and ideologies that hardly any of them believes in and most of them condemn. For me, both capitalism and African socialism are not the way out for African development, but I do suggest, Welfare capitalism (an ideology that will allow the practice of free enterprise or private enterprise system that will also demonstrate commitment and sensitivity to the needs and welfare of the disadvantaged in the society) should be embraced for Africa's development
