ABSTRACT
Foremost among the new problems was the need for capital to build an infrastructure for the kind of industrialized pecuniary economy that became an important goal of the new order. There was little or no capital in the hands of the indigenous population that could be tapped. Economic development under colonial rule had been the work of outsiders, primarily those from the metropolitan countries. While their operations continued after independence, the increasing rapidity in the pace of economic growth and the urgent need to encourage the growth of an indigenous capital structure caused the new governments to seek economic aid outside, and to impose new controls on the domestic
front, to mobilize human as well as natural resources. This was not without its crosscurrents. Even while outside aid was being sought, the cry of "neo-colonialism" began to be raised. The position of non-Africans in the economic life of the new countries, and the introduction of foreign capital, private or governmental, to facilitate economic growth, came in for re-examination. In all this could be discerned the emergence of nationalism in the classic sense of the term, with, here and there, overtones of African chauvinism.
