Tuesday, May 07, 2013

Inequality and corruption

Sub-Saharan Africa is also home to six of the top 10 most unequal countries in terms of economic disparity. In 2010, Africa’s oil, gas and mineral exports amounted to $333 billion in 2010. But illicit financial outflows from Africa are estimated at up to $200 billion annually, dwarfing the development aid it receives.

Oxfam International Executive Director Winnie Byanyima said: “Too often extractive industries in collusion with corrupt government officials cheat Africa of its wealth and potential for social spending. African citizens must get their true share of extractive industry revenues and royalties paid to their governments.”

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