Abstract
Good institutions were pivotal to the emergence of
capitalism and hence the creation of wealth, prosperity and
development in the world. In this paper, the authors argue that
one of the reasons for the poverty and underdevelopment in sub-
Saharan Africa is the weak institutional framework which exists in
these countries. The laws, rules and regulations governing
businesses and entrepreneurial activities are either too weak or
ineffective, and could be riding roughshod over any political interest
or individual. The paper presents evidence from the literature to
amplify the view that strong and effective institutions are
fundamental to reinvigorating economic growth and development.
Finally, the authors suggest that a complete overhaul and
rejuvenation of the institutional framework which exists in the
countries of sub-Saharan Africa is crucial to the creation of jobs,
and the alleviation of poverty and underdevelopment.