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Africa's massive Capital Flight: US$150 billion per annum
Date Posted: Sunday 12-Feb-2006[I heard a fascinating piece on our TV news. It was mentioned in merely passing by some people at a conference, whereas it should have been headline news.
Apparently Africa is experiencing a MASSIVE flight of capital. They say that US$150 billion is fleeing from Africa annually, but only US$35 billion is coming in!
Isn't that stunning? I think it is absolutely fantastic! Deep down in their hearts, businesspeople inside and outside Africa have seen the writing on the wall.
And most of the money that is coming in, is FOREIGN AID - and not investment. I think Africa annually gets about US$25 billion in foreign aid.
Mandela wanted that increased to US$50 billion - but given the bigger picture - it won't change the final outcome. Africa is becoming poorer - FAST!
I have also heard in the past, that foreign businesses are concerned by the changes which take place when Whites are no longer in charge. They won't say it in public, but they know that as the blacks take over, the corruption and inefficiency rises.
Post colonial Africa is heading into a downward spiral following Zimbabwe. Jan]
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