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Leverage Own Resources, Africa Urged

by The Herald
Published by : Herald (Harare) Physical details: 2p. Year: 2015
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The article urges African countries to mobilise domestic resources and plug illicit financial outflows which are haemorrhaging more than $50 billion annually if the continent is to develop. Instead, the continent should aspire to be in a position where it depends on its own resource base, mobilising domestic resources and taking charge of its development agenda. Relying on aid only will not take Africa anywhere. But instead leveraging own resources. Africa can only develop when its programme for development is based on its own resources to augment partners’ help. In the last three decades alone, the continent is estimated to have lost more $1,4 trillion through illicit financial outflows. This translates to between $50 billion and $80 billion annually. However, y the pattern of aid to Africa has generally declined over the last decade also at a time when the continent is pushing for trade more than aid.

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