We have indeed come a long way since the eminent historian John Illife reviewed the question on whether African Capitalism exists or not in his book 'The Emergence of African Capitalism.' It is now agreeable that African Capitalism exists albeit in a very crude form. Thus it is not surprising that Moeletsi Mbeki, a private business entrepreneur, has written a new book entitled 'Architects of Poverty' and subtitled 'Why African Capitalism Needs Changing'. This is a must read book to all champions of capitalism in this forum - a list that include the once avowed socialist Rev. Kishoka - since it provides a strong critique against the current version of African Capitalism from an African capitalist. "The problem with Africa", boldly asserts Mbeki in the preface to his book, "is that it is still locked in the mercantile stage of capitalism." Retaining his capitalist stance that had also been embraced by his brother Thabo Mbeki he thus offers the following recommendation: "The challenge facing the continent is how to modernise capitalism from merchantilism to industrialism." However the socialist sentiment of his upbringing by a Communist father, Govan Mbeki, and a Pragmatic mother, Epainnete Mbeki, betrays him when he rhetorically asks: "Why don't the powerful in Africa ever learn that merchantilism is a road to nowhere? Africa needs new rulers - the people themselves - who understand that the path to a prosperous future lies in hard work, creativity, knowledge and equity"! Interestingly, many years a go a leader who championed 'equity' and 'equality' by the name of Julius K. Nyerere realized that industrialization was the way to go and he worked very hard to establish over 400 parastatals many of which were industries. Thanks to a merchantile version of capitalism under the garb of neoliberalism we killed virtually all of them and the chief architect of that, Benjamin W. Mkapa, has confessed his mistake. Today Tanzania is more disindustrialized than when it was when Nyerere stepped down in 1985! The mercantilism road of giving away raw materials in the form of crops and minerals is indeed a road to nowhere. At least the poor Mwalimu tried State Capitalism!