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I have a lay opinion on why the deficits in Africa have near-nil multiplier effects: urban capture. We spend all our money in established, self-sustaining urban economies. If the spending was rural oriented, the impacts would be greater. As we stand, all the money simply follows the same set of factors -urban land, urban capital, urban skilled labour... that yields inflation since more money follows the same acre of land in the CBD year in, year out. I am not surprised, because all that capital is already overinvested. The trick is in getting the money out of old cities, into human services. Save the 25-55 year olds who have the skills and professional capacity to access, obtain and invest credit. As our parents and wealth-creators die off to preventable diseases, we keep raising a broke, broken and orphaned next generation of poorly educated urban immigrants that are essentially unproductive, expensive to sustain and easily prone to chaos and dysfunction. The multiplier effects will never be realized unless we all commit to real transformative investment in the rural populations...