Dambisa Moyo, Baroness Moyo
Dambisa Moyo | |
|---|---|
| Born | Dambisa Felicia Moyo February 2, 1969 Lusaka, Zambia |
| Other names | Baroness Moyo |
| Occupation(s) | Economist, author, public speaker, board member |
| Years active | 1993–present |
| Known for | Macroeconomics, international economics, author of bestselling books on economics and development |
| Notable work | Dead Aid; How the West Was Lost; Winner Take All; Edge of Chaos; How Boards Work |
Dambisa Felicia Moyo, Baroness Moyo (born 2 February 1969) is an economist and author originally from Zambia, acclaimed for her specialization in macroeconomics and international issues. She has written five books, four of which have appeared on the New York Times bestseller list: Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (2009), How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011), Winner Take All: China's Race for Resources and What It Means for the World (2012), Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018), along with How Boards Work: And How They Can Work Better in a Chaotic World (2021).
Early life and education
Born in 1969 in Lusaka, Zambia, Moyo spent part of her early years in the United States while her father completed postgraduate education, before returning to her home country.
She initially pursued chemistry at the University of Zambia and earned a BS degree in chemistry at American University in Washington, D.C. in 1991, supported by a scholarship. Subsequently, she completed an MBA with a concentration in finance at the same institution in 1993.
Moyo further advanced her education by obtaining a Master of Public Administration (MPA) from the John F. Kennedy School of Government at Harvard University in 1997. She later achieved a DPhil in economics from St Antony's College, Oxford University in 2002.
World Bank and Goldman Sachs
Following her MBA, Moyo was employed by the World Bank between May 1993 and September 1995 as a consultant within the Europe, Central Asia, and Africa divisions, where she contributed to the 1994 World Development Report. After completing her MPA and doctorate, she joined Goldman Sachs in 2001 as a research economist and strategist. Her responsibilities included analyzing debt capital markets, overseeing hedge fund coverage, and focusing on global macroeconomic trends until 2008. During this period, she provided guidance to developing nations regarding international bond issuance and led economic research and strategy initiatives focused on sub-Saharan Africa.
Board memberships
After departing Goldman Sachs, Moyo became a board member of the international brewing company SABMiller in 2009. Her governance experience extends to positions at Barclays Bank, mining corporation Barrick Gold, industrial conglomerate 3M, and data storage enterprise Seagate Technology.
As of 2025, she holds board seats at organizations including National Geographic, Chevron Corporation, Condé Nast, and Starbucks Corporation.
Previously, Moyo has served on the boards of charitable organizations such as Lundin for Africa and Room to Read.
Additionally, she is affiliated with several prominent groups including the World Economic Forum's Global Agenda Council on Global Economic Imbalances, The Trilateral Commission, and the Bretton Woods Committee.
Journalism and Public Speaking
Moyo is recognized as a public speaker, analyst, and columnist who has contributed insights to prominent financial and economic outlets including The Wall Street Journal, Financial Times, The New York Times, and Time magazine.
She has spoken at influential economic and financial gatherings such as the World Economic Forum in Davos, the Council on Foreign Relations, the American Enterprise Institute, the annual Bilderberg Conference, the Peterson Institute for International Economics, the Organisation for Economic Co-operation and Development (OECD), the Aspen Institute, and the Ambrosetti Forum. Additionally, Moyo has appeared at platforms like TEDTalks and BBC's HARDtalk, frequently providing expert commentary on business-focused television channels.
Awards and Honors
On 8 November 2022, she was bestowed the title Baroness Moyo, of Knightsbridge in the City of Westminster, receiving a life peerage as part of the Queen's 2022 Special Honours. In 2022, she was inducted into the American Academy of Arts & Sciences and was appointed an Honorary Fellow of Queens' College, Cambridge in 2023.
Her accolades include:
- Named a Young Global Leader by the World Economic Forum (2009)
- Included in the Time 100 list (2009)
- Featured on Oprah Winfrey's first-ever power list in O (2009)
- Recipient of the Friedrich Hayek Lifetime Achievement Award (2013)
- Listed among The 100 Most Connected Women by GQ and Editorial Intelligence (2014)
- Recognized as one of Handelsblatt’s 25 Great Thinkers (2015)
- Cited as one of London's Most Influential People by the Evening Standard in 2015, 2016, and 2017
Dead Aid
Moyo’s debut book, Dead Aid: Why Aid Is Not Working and How There is Another Way for Africa (2009), achieved bestseller status on the New York Times list. It argues that foreign aid delivered directly between governments has negatively impacted Africa and advocates for its gradual elimination. The book highlights that over $1 trillion in development aid has been funneled from wealthy nations to Africa over five decades, questioning its effectiveness.
The central thesis posits that official development assistance (ODA), distinct from emergency humanitarian aid, sustains poverty cycles and obstructs Africa’s economic progress. It promotes alternative financial development models for emerging nations instead of continued dependence on bilateral government aid.
Summarizing this viewpoint, the Financial Times noted: "Unlimited development funding to African governments, [Moyo] contends, has created dependency, fostered corruption, and ultimately reinforced poor governance alongside persistent poverty."
How the West Was Lost
Moyo’s second publication, How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011), also became a New York Times bestseller, entering at number six.
In a review for The Observer, economist Paul Collier commended Moyo’s "concise and insightful" analysis of recent financial crises. Meanwhile, The Guardian regarded this work as "broader in scope, more compelling, and more significant than Dead Aid," though it noted her conventional emphasis on free-market principles and undervalued resources with comparatively less focus on social consequences.
Alan Beattie from the Financial Times acknowledged the validity of many challenges raised but critiqued her omission of issues within emerging economies. Similarly, The Economist remarked that stronger evidence would be necessary to fully substantiate some of the book’s claims.
Winner Take All
Moyo's third publication, Winner Take All: China's Race for Resources and What It Means for the World (2012), examines worldwide commodity patterns with a particular focus on China's assertive pursuit of natural resources. This includes both hard commodities such as metals and minerals, as well as soft commodities like timber and agricultural products. The book anticipates the financial and geopolitical consequences of resource scarcity and contends that China is positioned to become the dominant force in the global economy.
Winner Take All achieved status as a New York Times bestseller. The Financial Times commended Moyo's comprehensive research, emphasizing the global challenges arising from China's resource demand. Meanwhile, The Telegraph recognized her perspective on China’s enduring influence over commodities but advised prudence regarding some future forecasts.
Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It
In her 2018 work, Edge of Chaos, Moyo asserts that the inability of democracies worldwide to maintain inclusive economic growth is a key driver of political unrest in the modern era. She stresses the importance of enhancing labor productivity as essential for economic progress and advocates for reforms in democratic capitalism supported by practical measures. The book outlines a 10-point "Blueprint for a New Democracy" designed to rejuvenate capitalism and stimulate economic development.
How Boards Work: And How They Can Work Better in a Chaotic World
Published in 2021, Moyo’s fifth book, How Boards Work: And How They Can Work Better in a Chaotic World, provides an insider perspective on corporate boards. It reevaluates their threefold responsibilities and promotes greater transparency, expertise, and diversity within boards to effectively address contemporary business complexities. The Financial Times described it as "extremely informative for prospective non-executives," offering "insightful analysis and recommendations" beneficial to board leadership.
Personal life
In December 2020, Moyo wed Jared Smith, billionaire entrepreneur and co-founder of the Utah-based cloud computing company Qualtrics.
Bibliography
- Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (2009)
- How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011)
- Winner Take All: China's Race for Resources and What It Means for the World (2012)
- Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018)
- How Boards Work: And How They Can Work Better in a Chaotic World (2021)