Illicit Financial Flows: Multinationals bleeding Africa
Lazarus Sauti Africa is a resource-endowed continent but sadly the continent is reeling in poverty. With its vast resources that are finite in nature mostly in the mining sector, the continent is trailing other continents in terms of socio-economic development and as a result Africans are poor. Professor Mthuli Ncube, chief economist and vice-president of the African Development Bank, agrees: “The African continent is resource-rich. With good resource husbandry, Africa could be in a position to finance much of its own development.” The question that haunts every caring and concerned African is, “With all our vast resources, why are we poor?” The answer is simple, the rape of the continent of Africa is happening faster, more violently and with less resistance today than at any time in its history. An economist in Zimbabwe believes Africa is desperate for investment and this is leading to some problems affecting her. Furthermore, resources are being lost and squandered...