The Effects of the African Diaspora Phenomenon on the Development of Human Capital, Needed to Eradicate, Alleviate and Reduce Poverty In Sub-Saharan African Countries

Abstract

One of the key engines that drive the economic growth and deveiopment of any country is the country's stock of human capital. In conjunction with social capital, human capital not only provides the vision for economic development, but also the strategies needed to plan and implement national progress. Unfortunately, the diaspora phenomenon has exploited and depleted Sub-Saharan African (SSA) countries' stock of human capital and this has created a huge deficiency in the resources needed to promote economic development and eradicate poverty in SSA countries. So, what is human capital? How does it differ from social capital? What is this African diaspora phenomenon? How did it originate? What are its costs to SSA in tem1s of human capital? How has it curtailed SSA's efforts to eradicate poverty? What can we do to minimize its impacts on the development of human capital, so as to promote national progress and reduce poverty in SSA? The purpose of this chapter is to provide answers to these questions.