FDI vs. Indigenous Enterpreneurs which is key for Economic Transformation of Low Income Countries?

My "favorite" military & former world leader (//https://www.youtube.com/watch?v=9_0oyxJGTB4&list=FLeNoCRAYIe3mSbTlBXShmqA">) says-" Foreign capital is a coward: It flees disease; it flees ethnic conflicts; it flees corruption; it flees political instability (bad governance in general); it flees poor infrastructure; and it flees small markets"`! African countries over the years have been in a "race-to-the-bottom" in a bid to attract foreign capital. They hope this will deliver the transformation of their economies that have eluded them over the decades. They have done so at the expense of building the capacity of their indignous enterpreneural champions (in some African states actually they actively fight the emergence of indignous enterprises!). I have studied economics for 15 years now. I never came across an economy that was solely transformed from one stage of development to another (3rd world to 2nd world for instance) by foreign capital. I came across of many which almost became failed economies because of foreign capital cowardizing and fleeing them! Albeit FDI delivers good jobs (mostly in small numbers) and quality technology to the receipient country! Whats your take? and whats your experience or what do yu know that I dont know? is this race-to-the bottom for African countries a lost cause? could we have gotten the transformation yesterday if our visionary men had decided to focus their vision on creating national (native) champions in business like Japan did in the 50s, 60s& 70s ? you can back your view with facts from the ground! I want to hear from yu......