Feb 22 Thursday 2018 11:49 PM
A report published by an African Union Panel has stated that High-level corruption and illegal outflow of people's hard earned money is the main reason behind Africa's poor governance. It further adds that African nations' government itself is involved in transferring money outside the country. It is based in Addis Ababa , Ethiopia.
African Union Panel was established under the United Nation's economic Panel on Africa. As per its report, since 2001, acts of illegal transfer of money from the government, has increased. As a result, 50 billion dollars have been lost. If this had not happened, this money could easily have been used for healthcare and job creation for the African people. Countries like Egypt and South Africa are the biggest losers in terms of money because of inappropriate use of money earned via export of products from Africa. As per a former South African President, companies join hands with governments to fill their own pockets because of which such situations happen. The report has suggested an immediate check on corruption and banks that facilitate such transactions.
Poverty and Unemployment are a direct outcome of any poor economy'>economy. If your government is not using the money properly, people automatically become poorer due to lack of work and employment. History is full of civil wars arising due to poverty in the country. We hope African leaders would learn well from the history and try to change their future history.
Long Live Kosovo!!
Barking Rooster sparks criticism in Malaysia
Iran Questions US's Veto Rights
Remarks of Polish PM attracts Swastikas
Now, Indian investors can use Indian Currency in Iran
Will Mr Oli Deliver This Time?
Is Instagram Russia's Puppet?
Bad News for Taliban
EU Minister Supports India
Pakistan Steps Up Against Terrorism
Can CPEC Survive Nature's Fury?
Major Australian Banks To Be Investigated
Bangladesh's Former Prime Minister sentenced to 5 years
Canada makes its National Anthem Gender-Neutral