The pandemic of HIV/AIDS threatens not only the local population but has widespread ramifications for the rest of the world and needs to be addressed urgently and incorporated as intrinsic part of business strategy and social responsibility by the global business community.
Financial aids to the sub Sahara is critical for developing infrastructure for the development processes so as to enable the local population to become self reliant and become proactive participants. The regions boast of the huge natural resources, rich in minerals and precious metals like gold, platinum, diamond etc. which are presently being exploited by the foreign agencies with scarce regard to the welfare of the local population.
Financial aid would serve as the major incentive for promoting democratization of the republics and reinforcing equitable distribution of wealth through programmes and policies. The approach needs to be focused on literacy and development processes to promote income generating activities designed to raise the standard of living.
But the rampant corruption in the sub Sahara greatly dissuades the donors which may defeat the objective of aid. According to a BBC report, ‘corruption is costing Africa more than $148bn dollars a year, increasing the cost of goods by as much as 20%, deterring investment and holding back development’ (BBC, 2002). The corruption has been found to be the most insidious factor that infiltrates almost all strata of society of Sub Saharan Africa. From the high level political grafts to low level bribing of police and custom official has become the norm that de-accelerates the development process. It therefore, becomes the major instrument adversely impacts the objectives of financial aid and must be addressed to improve and improvise the outcome of the same.
What is financial aid’s effect on the Sub Saharan