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AFRICANGLOBE - Monies for infrastructure and social amenities for the poor African population are being transferred to other countries via illicit financial flows. A former South African President, Thabo Mbeki, on Sunday in Abuja said African countries lose between $50 billion and $60 billion annually through illicit financial flow, IFF.
AFRICANGLOBE - The emergence of poles of growth in Africa needs greater industrialization and diversification of the Continent's productive base according to Messaitfa Bashir, Algeria's Secretary of State to the Prime Minister of Forecasting and Statistics.
AFRICANGLOBE - Africa's impressive growth story has not translated into economic diversification, commensurate jobs or faster social development for Africans.
AFRICANGLOBE - Africa has the potential to become an industrial hub and benefit directly from its abundant raw materials as other global economies continue to experience hard times.