adminstrong African capital owners was fuelling the continued plunder of Africa’s natural resources.
The Zambian leader said Africa, in its current form, was a conveyor, in ensuring that resource-poor countries continue to ride to the top of economic prosperity on the back of Africa.
“The biggest problem we have in Africa is the problem of unemployment and that has made our people conduits. Once we eradicate that problem, these things we are talking about will not be there,” the Zambian leader was quoted as saying by the paper.
According to him, the high poverty levels on the continent was depriving Africans of the sense of belonging, adding that there was need to create African entrepreneurs with enough muscle to own key industries in natural resources. According to Mr Mbeki, it was unacceptable that most key multinationals have continued to declare losses in their operations annually but still continued to run their industries buoyantly. Mr Mbeki, who is chairperson of a High Level Panel on Illicit Financial Flows from Africa instituted by the United Nations Economic Commission for Africa, said the illicit financial flows from Africa were seriously hurting the continent.
He said the problem cannot be solved by Africans themselves but needed the co-operation of Western countries who are the recipient of these funds. — Xinhua.
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