How the multinationals are swindling Africa’s wealth
The article published by the Italian Writer Renzo Rosso titled “L’Africa non è povera, anzi. Ma le multinazionali le stanno rubando tutta la ricchezza,” (English Translation: Africa is not poor, indeed. But the multinationals are stealing all their wealth, and the original article was published in 11th December 2018) is worth reading. In that article he says, so many multinationals are showing no remorse and simply they are looting diamonds, gold, oil, phosphate from various African countries.
The corrupt African regimes are helping the multinationals ‘legally ride’ Africa. Nearly 30 billion dollars worth of trees are being wiped out that creates a huge ‘empty land’ in the midst of forests. Illegal fishing to various kinds of money-laundering –everything is happening with the blessings of African rulers. The sufferers are no one, but African people. To say in short with facts and figures, Africa attracts $162 billion at the same time, $203 billion goes out of Africa, leaving Africa $41 billion poorer every year. A recent World Bank report says, Africa is losing $ 100 billion every year. In the report also says, the translational corporations are extracting a huge amount of mineral wealth from Africa and the region is not receiving the comparable value to compensate this extraction.
by
Srini