Attention to Ethiopia (Africa): Corruption ‘impoverishes and kills millions’

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Corruption ‘impoverishes and kills millions’

 

Pile of dollars (file picture)
BBC (4 September 2014) The ONE group says money lost because of corruption would otherwise be spent on school and medicine. An estimated $1tn (£600bn) a year is being taken out of poor countries and millions of lives are lost because of corruption, according to campaigners.A report by the anti-poverty organisation One says much of the progress made over the past two decades in tackling extreme poverty has been put at risk by corruption and crime.

Corrupt activities include the use of phantom firms and money laundering. The report blames corruption for 3.6 million deaths every year.

If action were taken to end secrecy that allows corruption to thrive – and if the recovered revenues were invested in health – the group calculates that many deaths could be prevented in low-income countries.

Corruption is overshadowing natural disasters and disease as the scourge of poor countries, the report says.

One describes its findings as a “trillion dollar scandal”.

“Corruption inhibits private investment, reduces economic growth, increases the cost of doing business and can lead to political instability,” the report says.

“But in developing countries, corruption is a killer. When governments are deprived of their own resources to invest in health care, food security or essential infrastructure, it costs lives and the biggest toll is on children.”

The report says that if corruption was eradicated in sub-Saharan Africa:

  • Education would be provided to an additional 10 million children per year
  • Money would be available to pay for an additional 500,000 primary school teachers
  • Antiretroviral drugs for more than 11 million people with HIV/Aids would be provided

One is urging G-20 leaders meeting in Australia in November to take various measures to tackle the problem including making information public about who owns companies and trusts to prevent them being used to launder money and conceal the identity of criminals.

It is advocating the introduction of mandatory reporting laws for the oil, gas and mining sectors so that countries’ natural resources “are not effectively stolen from the people living above them”.

It is recommending action against tax evaders “so that developing countries have the information they need to collect the taxes they are due” and more open government so that people can hold authorities accountable for the delivery of essential services.

Read more @ original source:

http://www.bbc.co.uk/news/world-africa-29049324

http://www.bbc.co.uk/news/world-29040793

Africa’s Jobless Growth: Economic success just for a few cannot be a replacement for human rights or participation, or democracy August

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Africa is Rising! At Least Its 1% Is

Africa’s economy may be booming, but this will do little to help unemployment and poverty if growth is jobless and its spoils are limited to the few.

What we need in Africa is balanced development. Economic success cannot be a replacement for human rights or participation, or democracy … it doesn’t work…it worries us a lot when we don’t see the trickle-through factor, when gain goes to the top 1% or 2%, leaving the rest behind.” – Mo Ibrahim October 15, 2012

It did not come as a surprise to many when, on October 15, the Mo Ibrahim Foundation announced that there was no winner for its annual $5 million African leadership award – for the third time since its inception in 2006. What was surprising, however, was that the foundation’s chair, British-Sudanese billionaire Mo Ibrahim, alsoadmonished the much-celebrated recent economic ‘success’ of the African continent for largely failing to translate into better human rights and social development, and for essentially creating a few elitist winners at the top whilst the rest were left struggling at the very bottom.

Recent reports, forecasts and editorials of influential financial magazines are incredibly optimisticabout Africa – its booming economic growth, its investment opportunities and its growing middle-class. Sub-Saharan African countries are reportedly among the fastest growing in the world with six out of ten world’s fastest growing economies, and recording growth rates averaging 4.9%, higher than the developing country average and much higher than the developed country average.

The Economist’s December 2011 print issue was boldly titled ‘Africa Rises’ and in August 2012, it again boldly proclaimed that ‘A Continent Goes Shopping’, underscoring the voracious purchasing power of the African middle-class to buy consumer and even luxury goods. The current received wisdom in these sleek reports, glossy magazine pages and glass-panelled conference rooms is that sub-Saharan Africa really is the place to be and to invest in, with all its abundant opportunities.

Jobless growth

This much-trumpeted economic success is mostly true, until one looks at the other side. Then questions arise over to what extent growth is spread across sectors of the economy, and whether such economic growth is translating into corresponding improvements in human and social development.

It is common knowledge that this new dawn of booming economic growth is largely the consequence of the recent rise in the global commodity prices of natural resources, chiefly oil, while the vibrancy of other sectors of the economy such as banking, telecommunications and construction trail behind in terms of growth. Many African countries primarily depend on the exportation of natural resources – and industry which is highly capital- (and technology-) intensive, providing few jobs. Only five of Africa’s fifty-four countries are currently not “either producing or looking for oil”.

It is therefore no surprise that many African countries, especially the economic powerhouses of the continent, are bedevilled by high unemployment, particularly amongst young people – hovering at25% in Egypt, 48% in South Africa and 42% in Nigeria. Thus, growth in capital-intensive sectors – such as resource exports, banking, and telecommunications – is barely trickling down to create jobs and economic opportunities for the vast majority of the people – a phenomenon commonly known as ‘jobless growth’.

Many sub-Saharan African countries experiencing record-level economic growth still have low rankings in human development indices, despite marginalimprovements in education enrolment and, with countrywide variations, maternal health. This contradiction is further reinforced by the growing inequality that characterises many of such African ‘powerhouses’. Luanda in Angola (thanks to flowing petro-dollars) and N’Djamena in Chad were, respectively, the second and eighth most expensive cities to live as an expatriate in 2012 – ahead of Sydney, London and New York according to Mercer’s Cost of Living Survey. Juba in the newly independent South Sudan is also gaining notoriety for its high cost of living, while the price of select real estate in Abuja and Lagos in Nigeria reportedly rivals that of some Western cities. These expensive cities are in countries grouped within the ‘Low Human Development’ category of the United Nation’s Human Development Indexbased on indicators such as health, income and education.

A tale of two cities

There has certainly been some improvement – for one, there is now an identifiable middle-class in Africa with money to splash around in the cinemas of Abuja and pricey hotels of Accra, the malls and retail outlets of Johannesburg and the exclusive residential estates of Lagos and Nairobi. However, once you step out of these glitzy inner cities and look to the outskirts, the glaring contrast between the shiny modernity and the urban deprivation in the slums hits you like the searing tropical sun.

 

The task thus remains for governments to devise sustainable development strategies that are tailored specifically to suit the African context. Such strategies must sustain the momentum of economic growth while ensuring that growth spreads to and strengthens sectors such as mechanised agriculture, light manufacturing and small-scale enterprises, which have a direct impact on the lives and incomes of citizens.

Such transformational policies should ensure that revenue windfalls are utilised wisely towards social and welfare policies, which will empower millions of Africans out of poverty, thereby creating a robust middle-class rather than just enriching an already existing sliver. It also means that such funds can be saved to help with later needs, as with the Sovereign Wealth Fund embarked on by countries such as Angola and the new oil-producer Ghana.

Importantly, the African youth bulge needs to be transformed into a demographic dividend by providing employment and economic opportunities to an increasingly educated African youth and by providing critically needed infrastructure so that abundant innovative ideas, which are capable of transforming lives and societies, can materialise into reality.

Ultimately, these are still governance challenges that Africa has a long way go to overcome, but the marginal improvements in some aspects of governance, especially women’s rights, as the Mo Ibrahim Foundation’s Index has shown, gives room for some cautious optimism. Mo Ibrahim’s admonishment could not have come at a better time.

Read @ it original source:http://thinkafricapress.com/development/mo-ibrahim-issues-timely-caution-afro-optimists?utm_content=buffer46624&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

*Zainab Usman is a Nigerian freelance writer. She is currently a DPhil candidate at the University of Oxford in Governance and Political Economy of Economic Diversification in Sub-Saharan Africa. She has a BSc in International Studies from Ahmadu Bello University Zaria and a Masters in International Political Economy and Development from the University of Birmingham. Zainab is an advocate of good governance, poverty reduction and women and youth empowerment. She regularly blogs atzainabusman.wordpress.com.

Africa:Why are we so poor? Yet we are so rich?

 

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Africa’s poverty persists in the midst of a wealth of natural resources, estimated by the United Nations Economic Commission on Africa as including 12 percent of the world’s oil reserves, 42 percent of its gold, 80 to 90 percent of chromium and platinum group metals, and 60 percent of arable land in addition to vast timber resources.

 If these were idle, unexploited resources, it would be one thing.
 

However, the reality is that they are increasingly being exploited: investment and trade in Africa’s resources sector is on the rise, largely accounting for the sustained GDP growth rates witnessed over the last decade. The Economist magazine has reported increased foreign direct investment into Africa, rising from U.S. $15 billion in 2002, to $37 billion in 2006 to $46 billion in 2012.

 

While trade with China alone went up from $11 billion in 2003, to $166 billion in 2012, very little can be pointed to in commensurate changes in human development and fundamental economic transformation. It is multi-national corporations and a few local elites which are benefiting disproportionately from the reported growth – exacerbating inequality and further reinforcing the characteristic “enclave economy” structural defect of most African economies.

 
 

The disparity between sustained GDP growth rates and Africa’s seemingly obstinate and perverse state of underdevelopment, extreme poverty and deepening inequality brings to the fore issues of inclusivity and responsible governance of domestic resources. The question that is being asked by many – especially Africa’s young people who have assumed the agenda for economic transformation as a generational mandate – is this: Why are we so poor? Yet we are so rich?

Read more @http://allafrica.com/stories/201408120664.html

 

 

Africa: Illicit Financial Flows Drain US$55.6bn Annually from the Continent

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Illicit Financial Flows Drain US$55.6bn Annually from African Continent

Only Ethiopia has lost $11.7 billion to illicit fund outflows in the last decade.  

A climate of corruption, Ethiopian edition

corruption-in-africaWorking Group Must Address Trade Misinvoicing and Role of U.S. Business and Government in Facilitating Illicit Finance to Be Truly Effective, Warns GFI

Illicit Financial Flows Drain US$55.6bn Annually from African Continent, Sapping GDP, Undermining Development, and Fueling Crime, Corruption, and Tax Evasion

August 7, 2014, WASHINGTON, DC (GFI) – Global Financial Integrity (GFI) welcomed the announcement from the White House and African leaders today regarding the establishment of a bilateral U.S.-Africa Partnership to Combat Illicit Finance, but the Washington-DC based research and advocacy organization cautioned that any effective partnership must be sure to address deficiencies in both the U.S. and in Africa that facilitate the hemorrhage of illicit capital from Africa.

“We welcome the move by President Obama and certain African leaders to form this partnership on curbing illicit financial flows from African economies,” said GFI President Raymond Baker, who also serves on the UN High Level Panel on Illicit Financial Flows from Africa. “Illicit financial flows are by far the most damaging economic problem facing Africa. By announcing the creation of the U.S.-Africa Partnership to Combat Illicit Finance, President Obama and African leaders have taken the first step towards tackling the most pernicious global development challenge of our time.”

GFI research estimates that illicit financial outflows cost African (both North and Sub-Saharan African) economies US$55.6 billion per year from 2002-2011 (the most recent decade for which comprehensive data is available), fueling crime, corruption, and tax evasion. Indeed, GFI’s latest global analysis found that these illicit outflows sapped 5.7 percent of GDP from Sub-Saharan Africa over the last decade, more than any other region in the developing world. Perhaps most alarmingly, outflows from Sub-Saharan Africa were found to be growing at an average inflation-adjusted rate of more than 20 percent per year, underscoring the urgency with which policymakers should address illicit financial flows.

The problem with illicit outflows from Africa is so severe that a May 2013 joint report from GFI and the African Development Bank found that, after adjusting all recorded flows of money to and from the continent (e.g. debt, investment, exports, imports, foreign aid, remittances, etc.) for illicit financial outflows, between 1980 and 2009, Africa was a net creditor to the rest of the world by up to US$1.4 trillion.

Trade Misinvoicing at the Heart of Illicit Outflows

According to GFI’s research, most of the illicit outflows from Africa—US$35.4 billion of the US$55.6 billion leaving the continent each year—occur through the fraudulent over- and under-invoicing of trade transactions, a trade-based money laundering technique known as “trade misinvoicing.” As GFI noted in a May 2014 study, trade misinvoicing is undermining billions of dollars of investment and domestic resource mobilization in at least a number of African countries. The organization emphasized the importance of ensuring that the new U.S.-Africa partnership prioritizes the curtailment of trade misinvoicing.

“The misinvoicing of ordinary trade transactions is the most widely used method for transferring dirty money across international borders, and it accounts for the vast majority of illicit financial flows from Africa,” said Heather Lowe, GFI’s legal counsel and director of government affairs. “While it is easy to place the blame for this on corrupt officials or transnational crime networks, the truth of the matter is that the bulk of these fraudulent trade transactions are conducted by normal companies, many of them major U.S. and European companies.”

Ms. Lowe continued: “Just yesterday, President Obama announced the Doing Business in Africa Campaign, a U.S. government initiative focused on boosting trade between U.S. and African companies, without a signal mention of the elephant in the room: trade misinvoicing. Increasing trade is important to boosting economic growth across Africa, but only if the trade is done honestly and at fair market values. The single most important step that wealthy nations like the U.S. can take to help African economies curtail illicit flows is to trade legitimately and honestly with Africa. While this topic was not addressed at the U.S.-Africa Business Forum yesterday, it must be on the table as the U.S.-Africa Partnership to Combat Illicit Finance commences its work.”

U.S. Must Clean Up Its Own Backyard

GFI further emphasized the need to address the role of the U.S. financial system as a major facilitator of such outflows.
“For every country losing money illicitly, there is another country absorbing it. Illicit financial outflows are facilitated by financial opacity in tax havens and in major economies like the United States,” said GFI Policy Counsel Joshua Simmons. “Indeed, the United States is the second easiest country in the world—after Kenya—for a criminal, kleptocrat, or terrorist to incorporate an anonymous company to launder their ill-gotten-gains with impunity.

“While governance remains an issue for many African countries, structural deficiencies in the U.S. financial system are just as responsible for driving the outflow of illicit capital. This initiative cannot place the onus entirely on the shoulders of African governments. The burden for curtailing these illicit flows must be shared equally by policymakers in the U.S. and in Africa for this partnership to be effective,” added Mr. Simmons.

http://ayyaantuu.com/africa/illicit-financial-flows-drain-us55-6bn-annually-from-african-continent/

http://globalvoicesonline.org/2012/01/25/ethiopia-reflecting-on-corruption-in-ethiopia/

Africa’s Slide Toward Disaster 

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Africa’s Slide Toward Disaster

AUG. 1, 2014

A specter is haunting Africa — the specter of impunity. Many countries the United States considers allies are in the grip of corrupt, repressive tyrants; others are mired in endless conflict. As Washington prepares to host the first-ever U.S.-Africa Leaders Summit next week, American policy makers must acknowledge their contributions to this dismal situation. By lavishing billions of dollars in military and development aid on African states while failing to promote justice, democracy and the rule of law, American policies have fostered a culture of abuse and rebellion. This must change before the continent is so steeped in blood that there’s no way back.

The summit seeks to highlight Africa’s development successes and promote trade and investment on a continent rich in oil and natural resources. Justice and the rule of law aren’t on the agenda. But they should be, unless American C.E.O.s want to see their investments evaporate.

Read interesting comments @ http://ayyaantuu.com/africa/africas-slide-toward-disaster/#respond

Read more @http://www.nytimes.com/2014/08/02/opinion/africas-slide-toward-disaster.html?partner=rssnyt&emc=rss&_r=0

Africa: A resurgent “Dictators’ Club

 

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‘The international community’s failure to demonstrate strong opposition to the antidemocratic trajectory of many African countries is allowing authoritarian heads of state to gain more power and influence. The United States should single out and prioritize the needs of the few African leaders working to comply with international law and to promote democratic governance domestically and regionally. One way Washington can do this is by acknowledging and giving preference to the democratic states participating in the U.S.-Africa Leaders’ Summit next week. If current trends are not thwarted, the future of the continent could fall under the control of a resurgent “Dictators’ Club.”’

 

“Repressive leaders are also copying one another’s laws, which collectively undermine basic freedoms for the continent’s citizens. In 2009, Prime Minister Meles Zenawi of Ethiopia enacted the Anti-Terrorism Proclamation and the Charities and Societies Proclamation, which essentially aimed to eliminate independent civil society activity. Within a few years, Presidents Yoweri Museveni of Uganda and Uhuru Kenyatta of Kenya had introduced nearly identical laws, which are muzzling the work of human rights defenders, the independent media, local journalists, and members of the political opposition across East Africa.”

 

 

Reemergence of the African Rat Pack

(Freedom House, 30 July 2014)The reemergence of unconditional solidarity among Africa’s incumbent leaders is threatening respect for human rights and good governance throughout the continent. The phenomenon is obviously bad for the people of Africa and for the overall progress of democracy. But the worst consequence of many African leaders’ support for even their most authoritarian colleagues is the growing regional acceptance—and in some cases promotion—of deeply repressive policies.

Strong bilateral relationships in Africa, for instance between Presidents Jacob Zuma of South Africa and Robert Mugabe of Zimbabwe, are undercutting domestic and regional democratic frameworks. In Zimbabwe’s 2013 election, Zuma—acting as the chief election facilitator for the Southern Africa Development Community (SADC)—disregarded his obligation under the organization’s Principles and Guidelines Governing Democratic Elections to maintain neutrality by publicly rebuking a technical team for questioning the election preparations. Zuma then endorsed Mugabe’s reelection on behalf of SADC, even when clear evidence of vote rigging emerged, which Botswana cited as another violation of SADC’s guidelines. Nevertheless, Zuma stood by his counterpart in Zimbabwe, bolstering the idea that the region’s entrenched leaders can rely on one another in their efforts to maintain power, even if this means violating their own democratic standards.

This type of solidarity in Southern Africa has extended beyond domestic affairs to include limiting citizens’ access to justice on a regional level, as clearly demonstrated by the disbandment of the SADC Tribunal, launched in 2005 to enforce the SADC Treaty. The tribunal’s fate was sealed when it ruled that Zimbabwe’s seizure of land from white farmers without compensation was illegal and discriminatory. Mugabe refused to obey the decision, challenging the court’s authority and paving the way for its suspension in 2010. Despite the best efforts of civil society groups in the region, Southern Africa’s heads of state sided with Mugabe and voted to remove the individual mandate of the court, meaning victims of state abuse could no longer file cases against their governments. Not only was this a blow to human rights protection, but it also discouraged private-sector investment, as property owners would have no legal recourse beyond national courts. Once the SADC court ruled against the big man’s interests, political imperatives suddenly took precedence, and legal order was sidelined.

Repressive leaders are also copying one another’s laws, which collectively undermine basic freedoms for the continent’s citizens. In 2009, Prime Minister Meles Zenawi of Ethiopia enacted the Anti-Terrorism Proclamation and the Charities and Societies Proclamation, which essentially aimed to eliminate independent civil society activity. Within a few years, Presidents Yoweri Museveni of Uganda and Uhuru Kenyatta of Kenya had introduced nearly identical laws, which are muzzling the work of human rights defenders, the independent media, local journalists, and members of the political opposition across East Africa.

A similar contagion effect occurred after the signing of what UN High Commissioner for Human Rights Navi Pillay referred to as “a piece of legislation that in so few paragraphs directly violates so many basic, universal human rights.” Nigeria’s Same-Sex Marriage Prohibition Act, signed early this year, went far beyond other anti-LGBTI laws by banning association with or operation of “gay” organizations. Instead of pushing back, many of the continent’s leaders supported Nigeria with their own repressive measures, including the signing of an “anti-homosexuality” bill in Uganda, the introduction of a draft law to criminalize gay and transgender people in the Democratic Republic of the Congo, the launching of a parliamentary caucus to ensure the implementation of anti-LGBTI laws in Kenya, and the refusal of justice for victims of homophobic attacks in Cameroon. Many argue that this is not surprising given the preceding rise in homophobic rhetoric from many African leaders, but since the Nigerian bill was enacted, attacks against LGBTI people across the continent have increased, even in more tolerant countries such as Côte d’Ivoire and Sénégal. Nigeria’s leadership catalyzed a steep regression for the protection of LGBTI individuals that could take decades to reverse.

Big-man interests are also driving a movement to withdraw en masse from the International Criminal Court (ICC), which would enable impunity for mass atrocities. Urged on by President Kenyatta, who is currently accused of crimes against humanity at The Hague, the African Union (AU) held a special meeting in October 2013 to discuss an ICC withdrawal. Due to the efforts of countries like Botswana, Côte d’Ivoire, Mali, and Sénégal, the AU rejected the proposition, but Kenyatta succeeded in obtaining a resolution calling on the ICC to postpone his trial and to exempt sitting heads of state from international prosecution. As if this were not enough, an amendment to the newly established Protocol on the Statute of the African Court of Justice and Human Rights was adopted at a June 2014 summit, giving immunity to African heads of state and senior government officials (yet to be defined) at what was supposed to be the continent’s new regional human rights court.

If the immunity amendment to the African court’s statute is ratified by AU member states, leaders will not be deterred from committing the same crimes of the past, and African citizens will have one less option for protection against human rights abuses. Furthermore, the amendment is entirely at odds with the normative frameworks already ratified by the AU member states to protect human rights, including the African Charter on Democracy, Elections, and Governance and the African Charter on Human and Peoples’ Rights. Compliance with and enforcement of these frameworks are the best hope for strengthening democratic governance in Africa. However, these treaties, laws, and protocols will be useless if authoritarian leaders succeed in working together to ignore and actively undermine them.

It is therefore extremely important for countries like the United States to work actively with their African partners to uphold democratic principles on the continent. The international community’s failure to demonstrate strong opposition to the antidemocratic trajectory of many African countries is allowing authoritarian heads of state to gain more power and influence. The United States should single out and prioritize the needs of the few African leaders working to comply with international law and to promote democratic governance domestically and regionally. One way Washington can do this is by acknowledging and giving preference to the democratic states participating in the U.S.-Africa Leaders’ Summit next week. If current trends are not thwarted, the future of the continent could fall under the control of a resurgent “Dictators’ Club.” Read @http://freedomhouse.org/blog/reemergence-african-rat-pack#.U9lHW9JDvys

Aid to Africa:A smokescreen to hide the “sustained looting” of the continent

OThe Guardian home

Although sub-Saharan Africa receives $134bn each year in loans, foreign investment and development aid, $192bn leaves the region, leaving a $58bn shortfall. See @ http://www.theguardian.com/global-development/2014/jul/15/aid-africa-west-looting-continent?CMP=fb_ot

 

 

Mark Anderson writes for the Guardian:

Western countries are using aid to Africa as a smokescreen to hide the “sustained looting” of the continent as it loses nearly $60bn a year through tax evasion, climate change mitigation, and the flight of profits earned by foreign multinational companies, a group of NGOs has claimed.

Although sub-Saharan Africa receives $134bn each year in loans, foreign investment and development aid, research released on Tuesday by a group of UK and Africa-based NGOs suggests that $192bn leaves the region, leaving a $58bn shortfall.

It says aid sent in the form of loans serves only to contribute to the continent’s debt crisis, and recommends that donors should use transparent contracts to ensure development assistance grants can be properly scrutinised by the recipient country’s parliament.

“The common understanding is that the UK ‘helps’ Africa through aid, but in reality this serves as a smokescreen for the billions taken out,” said Martin Drewry, director of Health Poverty Action, one of the NGOs behind the report. “Let’s use more accurate language. It’s sustained looting – the opposite of generous giving – and we should recognise that the City of London is at the heart of the global financial system that facilitates this.”

Research by Global Financial Integrity shows Africa’s illicit outflows were nearly 50% higher than the average for the global south from 2002-11.The UK-based NGO ActionAid issued a report last year (pdf) that claimed half of large corporate investment in the global south transited through a tax haven.

Supporting regulatory reforms would empower African governments “to control the operations of investing foreign companies”, the report says, adding: “Countries must support efforts under way in the United Nations to draw up a binding international agreement on transnational corporations to protect human rights.”

But NGOs must also change, according to Drewry: “We need to move beyond our focus on aid levels and communicate the bigger truth – exposing the real relationship between rich and poor, and holding leaders to account.”

The report was authored by 13 UK and Africa-based NGOs, including:Health Poverty ActionJubilee Debt CampaignWorld Development MovementAfrican Forum and Network on Debt and Development,Friends of the Earth AfricaTax Justice NetworkPeople’s Health Movement Kenya, Zimbabwe and UKWar on WantCommunity Working Group on Health ZimbabweMedactHealthworkers4AllFriends of the Earth South AfricaJA!Justiça Ambiental/Friends of the Earth Mozambique.

Sarah-Jayne Clifton, director of Jubilee Debt Campaign, said: “Tackling inequality between Africa and the rest of the world means tackling the root causes of its debt dependency, its loss of government revenue by tax dodging, and the other ways the continent is being plundered. Here in the UK we can start with our role as a major global financial centre and network of tax havens, complicit in siphoning money out of Africa.”

A UK government spokesman said: “The UK put tax and transparency at the heart of our G8 presidency last year and we are actively working with the Organisation for Economic Co-operation and Development to ensure companies are paying the tax they should and helping developing countries collect the tax they are owed.” Read  @http://www.theguardian.com/global-development/2014/jul/15/aid-africa-west-looting-continent?CMP=fb_ot

http://www.gfintegrity.org/report/2013-global-report-illicit-financial-flows-from-developing-countries-2002-2011/