Schlagwort: Capital

Fight Against Capital Flight: A Global Agenda for Achieving Sustainable Development in Africa

Image: Money Suitcase

Capital flight perpetuates Africa’s dependence

Traditionally strategies aimed at accelerating economic development in Africa have focused on strengthening domestic resource mobilization and attracting more external capital to fill the large financing gaps faced by the continent. Much less attention has been paid to the illicit export of Africa’s capital – capital flight. This approach has perpetuated Africa’s dependence on external financing while ‘normalizing’ the plunder of Africa’s wealth through unfair trade and illicit financial flows.