Short-termism is a business term that refers to the excessive focus of some corporate leaders, investors, and analysts on short-term, quarterly earnings and a lack of attention to the strategy, fundamentals, and conventional approaches to long-term value creation. An excessive short-term focus combined with insufficient regard for long-term strategy can tip the balance in value-destructive ways for market participants, undermine the market’s credibility, and discourage long-term value creation and investment. The short-termism tendency has plagued African political leadership. In fragile states, uncertainty regarding the longevity of their tenure lures leaders to opt for quick mining deals to finance their extended stay in power, budget is prioritized on national security and even to the complete abandonment of vital public infrastructure and social services (drinking water, bridges, schools, hospitals, civilian security) that have less dramatic or immediate political benefits. In the newly democratizing states leaders have panic for elections calendar. As such, seeking assurance of re-election is their main pre-occupation. They opt for policies and programmes that bring palpable and conspicuously visible immediate benefits for their strongholds even if it is to the detriment of future national fortunes. Therefore, efforts to re-start real development in Africa will need a re-dress of leadership security.
