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$50 Billion Stolen From Africa By Foreign Firms Annually

AFRICANGLOBE - Global economy commentators say that Africa is currently raising but the billions of dollars that the continent is losing could, halt that rise, if not stopped. Experts say there's a good reason to be worried because the amount of outflows of revenue from Africa are higher than the amounts received by the continent, annually in development aid and much greater than amounts raised annually by most African governments in taxes.

EALA Calls for Independent African Parliament

Speaker of the East African Legislative Assembly (EALA) Abdirahin Abdi has called for the establishment of a fully fledged independent African parliament. "The entire East African Community (EAC) fraternity fully supports the efforts towards the development of a fully - fledged continental parliament that has greater autonomy and legislative leverage," he said at the opening of the sixth ordinary session of the second Pan African Parliament (PAP) in Addis Ababa, Ethiopia last week.

Africa – 'Ideal for the Development of a Real Economy'

Foreign direct investment in Africa over the last decade has contributed to marked economic growth for the continent but it has not translated into development for its people, says pan-African leaders.