Dambisa Moyo

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Lore & Background

Moyo was born in 1969 in Lusaka, Zambia. She spent some of her childhood in the United States while her father pursued his postgraduate education, then returned to Zambia. She studied chemistry at the University of Zambia and completed her BS in chemistry in 1991 at American University in Washington, D.C., via a scholarship. She received an MBA in finance from the same university in 1993. She acquired a Master of Public Administration (MPA) degree at Harvard University's John F. Kennedy School of Government in 1997. In 2002 she received a DPhil in economics from St Antony's College, Oxford University, where she was elected an Honorary Fellow in 2026. Following her MBA, Moyo worked at the World Bank from May 1993 to September 1995. She was a consultant in the bank's Europe, Central Asia and Africa departments, and was one of the 20 contributing authors to the World Bank's 1994 annual World Development Report. After pursuing her MPA and PhD, Moyo joined Goldman Sachs as a research economist and strategist in 2001. She was with the company until November 2008, working mainly in debt capital markets, hedge funds coverage, and global macroeconomics. Part of her tenure at Goldman Sachs was spent advising developing countries on the issuing of bonds on the international market. She was also head of economic research and strategy for sub-Saharan Africa. After leaving Goldman Sachs, Moyo joined the board of directors of SABMiller in 2009. She is also a former board member of Barclays Bank, Barrick Gold, 3M, and Seagate Technology. As of 2025, she is on the boards of directors of National Geographic, Chevron Corporation, Condé Nast, and the Starbucks Corporation. Moyo is also a former board member of the charities Lundin for Africa and Room to Read. She is a member of the World Economic Forum's Global Agenda Council on Global Economic Imbalances, The Trilateral Commission, and the Bretton Woods Committee. In June 2026, Moyo was named Chair of The Economic Club of New York.

Reader's Guide

Dambisa Moyo's significance lies in her five books, including four New York Times bestsellers. Her first book, *Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa* (2009), argues that government-to-government foreign aid has harmed Africa and should be phased out. The book states that in the past 50 years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. The *Financial Times* summarized its argument: 'Limitless development assistance to African governments, [Moyo] argues, has fostered dependency, encouraged corruption and ultimately perpetuated poor governance and poverty.' While a bestseller, the book was poorly received by critics and widely derided in reviews for its poor use of evidence, oversimplification, and repackaging of old ideas. *The Guardian* called it 'an erratic, breathless sweep through aid history and current policy options for Africa.' Paul Collier argued Moyo 'exaggerates the opportunity for alternative finance and underestimates the difficulties African societies face.'

Her second book, *How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead* (2011), became a New York Times bestseller, debuting at No. 6. In a review in *The Observer*, Paul Collier wrote that 'her diagnosis of the recent disasters in financial markets is succinct and sophisticated.' *The Guardian* stated it was 'more interesting, wider in scale and more important than *Dead Aid*,' but called Moyo 'a very orthodox thinker, unable to consider a world beyond free markets.' *The Economist* said 'these arguments need much better supporting material than the book provides.' Her third book, *Winner Take All: China's Race for Resources and What It Means for the World* (2012), examines China's global rush for natural resources and became a New York Times bestseller. A *Financial Times* review noted, 'If Dambisa Moyo is right, the demands of the world's most populous state are bad news for the rest of us.' *The Telegraph* commented that 'the grounds for doubting whether the future will be a straight line from the past deserve a hearing.' Her fourth book, *Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It* (2018), outlines a 10-point 'Blueprint for a New Democracy.' Her fifth book, *How Boards Work: And How They Can Work Better in a Chaotic World* (2021), provides an insider's perspective on corporate boards. The *Financial Times* called it 'highly instructive for aspiring non-executives' with 'thoughtful analysis and reform proposals.'

Did You Know?

• Moyo was one of 20 contributing authors to the World Bank's 1994 annual World Development Report.
• She was elected an Honorary Fellow of St Antony's College, Oxford, in 2026.
• Her first book, *Dead Aid*, argues that more than $1 trillion in development-related aid has been transferred from rich countries to Africa over 50 years.
• Moyo was named Chair of The Economic Club of New York in June 2026.
• She was elected to the American Academy of Arts & Sciences in 2022 and as an Honorary Fellow of Queens' College, Cambridge in 2023.