25% of Africas wealth embezzled?

Discussion in 'Current Affairs, News and Analysis' started by LankyPullThrough, Oct 29, 2006.

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  1. A report by John O'Shea in today's Irish Sunday Independent quotes African Union figures that have Africa losing the equivalent of 25% of its GDP a year (around US$ 148 billion) to corruption.

    A UK-based businessman, Mo Ibrahim, is cited as believing that, without corruption, Africa would not need any foreign aid. Ibrahim is apparently offering $5 million in prize money to African leaders in return for keeping their hands out of the till and running fair elections.

    Does seeking to financially reward honesty and probity show a realistic approach to a big problem or just perpetuating it? Would any dictator with acquisitive motives just settle for 'honesty is the best policy' (and $5 million) only if they thought they couldn't rip off any more?

    Would this idea tackle or merely subsidise kleptocracy???
     
  2. recent reports suggest that nigeria's leaders have stolen $380 billion dollers from the country since independance in the 60's
    Nigeria is the 8th largest oil producer in the world and the money they make each day should make a huge differance to the people but it doesnt.
    I've worked here for 2 years now and i would never give money to a charity that supports africa. If i met Bob Geldof it hit the tw*t.
    Recently a state officail died and $80 millon dollers was discovered in his house.
    Why should we support these countries when their own leaders are robbing them blind.
    Anyone that thinks i am harsh come and work here for a few months.
     
  3. in_the_cheapseats

    in_the_cheapseats LE Moderator

    Man's must be smoking something. Nice thought but I can't help but say that he must have a completely different notion on the honesty of any politicion than I - and he is talking about african politicions! :?

    Some crook will merrily take this cash from the naive fool, laugh about it and add it to the other x mil he has ripped off his country.

    Editted for awful spelling.....
     
  4. 25%? Bollocks. Much more than that.

    The British left African nations that were well on their way to becoming the next South Korea, and they totally and utterly screwed it up themselves. Corruption well beyond 25% of GDP in places like Nigeria.
     
  5. Only 25%

    I presume those are the African nations that came semi-clean with the World Bank in the hope of getting more.

    I'd say nearer 60%.
     
  6. $5 million per leader per month? Anything less would be a insult.
     
  7. 25%?? A damn sight more than that.

    Many can attest from first hand experience just how much the charity do-good industry (and it is an huge industry, make no mistake) adds to this problem thanks to the almost stunning general stupidity of many who "manage" them coupled with the wide range of very sharp people who quite cunningly exploit their good but dopey intentions to keep the money, aid and graft pipeline open.

    The whole official and business culture of many countries is built around theft, graft and general corruption. Indeed, it is expected that somebody in a position of power will grab all he or she can for the express purpose of keeping their extended family and cronies well greased.

    Fail to do so and you may just meet a rather unpleasant end. Anyway, some other fatherless will always be creeping up behind you so better grab all you can.

    The general population can all rot and die as far as they are concerned: sanctity of human life is not high up the list when you need to fund the private jet for those shopping trips to Paris along the brief stopover in Zurich or Geneva to visit your banker