_1_(17439484063).jpg){kind=link}
A recent Honest Accounts report clearly showed how real wealth extraction from Africa is. According to the report, outsiders are extracting wealth in the BILLIONS. An estimated $161.6 billion is flowing into the continent, while $202.9 billion is flowing out.
That means major debt, and an extraction of about $41 billion!
Millions of Africans live in poverty, but multinational companies are stealing money that could benefit them.
According to figures produced by the UN Economic Commission for Africa, this $40 billion is being stolen EACH YEAR through “trade mis-invoicing.”
A lot of this stolen money is shipped out of Africa, further lining the fat pockets of the wealthy.
Those are billions of dollars that could be used to develop Africa – instead going to foreign companies and being spent outside of the continent.
The thing is: Africa is actually RICH. Like, really rich.
In 2014, Africa’s largest 500 companies’ sales totaled $698 billion. And in 2015, African countries reportedly exported natural resources like minerals and oil valued at $232 billion! None of that wealth is going to African people.
These figures are just the tip of the iceberg, revealing how non-Africans are stealing and profiting from Africa’s wealth.
Instead of admitting this truth, governments in the Americas, Europe, Asia, and beyond tell us that they’re all up in Africa’s business to “aid” these “poor, poor” countries.
But the truth is: Africa ain’t poor. They’re just stealing its wealth.