Africa Loses Billions in Plundered Resources

Clamping down on illicit plundering of food and natural resources could curb Africa's food shortages, says the latest Africa Progress Panel report

Clamping down on illicit plundering of food and natural resources could curb Africa's food shortages, says the latest Africa Progress Panel report.

The reports states that Africa’s forests and fisheries, which could be an answer to the continent’s food shortages and dire poverty levels, are instead being stripped illicitly to the tune of almost US$20 billion each year.

When added to the losses the continent is experiencing as a result of other illicit outflows, US$50-billion is lost overall each year, or 5.7 percent of sub-Saharan Africa’s gross domestic product (GDP).

To read the article titled, “Africa loses US$50bn a year in plundered resources,” click here.

Source: 
Mail and Guardian

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