Africa: Africa's Public Finances Are in a Mess - a New Book Explains Why and What to Do
AllAfrica
February 23, 2026
AI-Generated Deep Dive Summary
Africa's public finances are in disarray, as highlighted by Kenyan finance scholar Lyla Latif in her new book *Governing Public Money*. Drawing on a decade of experience across 32 countries, Latif reveals how mismanagement of public funds has led to visible problems like potholes destroying cars, health clinics without medicine, and dilapidated schools. These issues are not just government failures but reflect a broader crisis in how public money is raised, allocated, and spent. Latif emphasizes that public money belongs to citizens, making the proper management of these resources a matter of accountability and governance.
The root causes of Africa's public finance challenges are deeply intertwined with weak institutions, corruption, political interference, and limited transparency. In many cases, governments prioritize short-term gains over long-term investments, leading to underfunded essential services and wasted resources. Latif highlights the importance of strong institutional frameworks, including independent oversight bodies and transparent budget processes, to ensure that public money is used effectively for the public good.
The book also explores potential solutions, such as fostering better governance practices, strengthening accountability mechanisms, and promoting citizen engagement in public finance decision-making. These steps are crucial for addressing systemic issues like corruption and ensuring that public funds reach those who need them most. By aligning financial policies with development goals, African countries can build more resilient economies and improve the quality of life for their citizens.
For readers interested in global affairs, understanding Africa's public finance challenges is essential. Poor resource management not only hinders progress on the continent but also impacts international aid effectiveness and global stability. Addressing these issues could unlock significant opportunities for economic growth and social development, making it a critical topic for policymakers, researchers, and anyone concerned with global equity and sustainability.
Verticals
worldafrica
Originally published on AllAfrica on 2/23/2026