ABSTRACT
Decolonization in Africa began after the Second World War. As nations gained independence, there was hope for accelerated economic growth and improved living standards. However, many countries faced the challenging task of building a functional state, despite the power struggles and internal conflicts driven by ethnic tensions and territorial disputes. Following independence, some countries pursued industrialization through import substitution. However, the end of the Golden Age and the rise of neoliberalism brought setbacks to Africa's social and economic development. The commodity prices declined, and the debt crisis increased poverty in the continent. In the XXI Century, Africa has seen higher economic growth, driven by increased commodity demand and greater political stability. The question of whether the current trajectory will be sufficient to overcome Africa's historical underdevelopment remains open. This chapter investigates the dynamics of development in Africa, the last continent to integrate into the global capitalist economy. It is organized into four sections: a brief economic history post-independence and integration into the world economy, the relationship between technical change and profit rates, the link between natural resources, profit rates, and capital accumulation, and strategies for African countries to catch up with developed nations.
