Africa Trade the World: A Development Channel Perspective

Africa Trade the World: A Development Channel Perspective

For years now some African governments, think-tanks, scholars and the celebrity world has for a while been mooting on ways to repatriate stolen capital through the colonial era and during the post independence Africa through corrupt proceeds and clever tax evasion from multinationals.

The sad part is the implicit nature western governments are doing to protect the tax havens (UK government owning 7 of the 14 tax free jurisdictions) and the ‘I cannot reveal the account details of the illegal monies). 2020 if the year that the G7 has marked as the start of disclosure. But the question is Will the Wealthy West Countries play ball?
History has good cases such as The Treaty of Versailles (signed in 1919) and the 1921 London Schedule of Payments required Germany to pay 132 billion gold marks (US$33 billion) in reparations to cover civilian damage caused during the war.

Africa, as a major source of capital flight, needs to speak with a unified voice on this issue, and to spearhead the fight against capital flight, including the tracing and recovery of these ‘stolen’ assets. This requires that African policy makers and the broader populace fully appreciate the magnitude of the capital flight problem and its various manifestations, as well as its impacts on Africa’s development.
So what strategy should be applied? A trade boycott of Western products, or an improve trading environment (with the world trade organisation, Western countries still provide subsidies to their people while Africa is told to refrain from it)… Nonetheless Africa governments, think-tanks and institutions should still increase pressure on the existing funds still in western government to be returned either through concerted efforts and campaigns.

Now even more than ever Africa should press on and call the bluff as the game of polka goes. Africa holds the future of the world in her hands.

While governments wrestle with how to come up with a win-win situation; where western governments try to encourage their citizens and companies to increase the level of direct investment (which could be a result of the Chinese and Africa dalliance). According to Global Financial Integrity (GFI), a Washington think thank, illicit financial flows from developing regions grew at an average rate of 8.5% to 10.1% a year between 2005 and 2014

Globally, illegal capital flight nearly reached $1 trillion in 2014, at the high end of the GFI’s estimate, and just over $600 billion at the low end.In 2014, illicit outflows were largest in Asia, pegged at between $272 billion and $388 billion. In sub-Saharan Africa, illicit capital flight that year was estimated at $36 billion to $69 billion. However, measured against scale of trade, the impact of the illicit outflows from sub-Saharan Africa was much greater.

To keep such pressure on Governments a campaign to bring back the stolen funds is being waged by the Development Channel. They state as follows
Here is why you should support Development Channel’s Economic War
It is no secret that capitalist economies owe their development to the plunder of African resources siphoned since Colonialism. Not only was Africa used as a source of cheap raw material for the Industrial Revolution in the late 17th Century, it was also the home of forced labour through slave trade.
Ever since, even with the independence of African countries, the theft of African resources has continued through multi-national companies either directly through theft of natural resources or the trade imbalance that allows for their products to flood our markets at impossible prices yet made from African fabric, metal, and other resources.
As a result, the income disparities have increased the gap between the rich and the poor locking the continent into a cycle of debt, war, disease, famine that the capitalists use as a stepping stone to continue their cycle of theft unfettered through a cosmetic term — foreign aid.

This “aid” is what keeps African governments doing the bidding of these “donors” fueled by International media’s biased coverage of Africa often anecdoted with horrific pictures of starving African children, painting the picture of desperation.
Ever wonder why war has never ended in Africa? It is because of the invisible hand of foreign governments fuelling conflict to continue their theft of African resources. African luminaries such as Patrice Lumumba, Thomas Sankara who saw and condemned this theft decades ago were assassinated by capitalist regimes who in turn propelled the rise of puppet leaders that would allow their plunder to continue at a cut.
50 years later, even with the “aid” Africa has purportedly received, poverty, disease, hunger, poor infrastructure and other social ills are still a reality. The response is simple; Africa cannot be developed by other people other than Africans. This is why Development Channel has launched the continent’s first attempt to reverse the shame Africa has endured for centuries.
The program dubbed the Economic War is a deliberate effort to give Africans the power to dig themselves out of the entanglement they have been enslaved in through making informed economic choices that come with benefits that will change the continent’s living conditions and eventually, drive poverty out.
What is the Economic War?
It is essentially a patriotic approach that empowers Africans to build their continent by limiting how much money is taken out by foreign companies and using it to iron the income disparities, promote social welfare, support innovation through quality education and reduce Africa’s imports from the rest of world through industrialization.
The vision bearers argue that by stopping the capital flight out of the continent which stands at $203bn, the continent can solve her endemic production problems and be able to compete favourably with the rest of the world in terms of trade, innovation, and infrastructure.
The proponents are confident that Africa can be a powerhouse of industrialization owing to her natural resource endowment, create jobs for her people, export more and halt the capitalist exploitation that has kept the continent in a poor shape for years.
In turn, the functional welfare system, a progressive and healthy business environment in which local companies can outcompete foreign companies in bidding for local projects such as road, dam and railway construction, Africa will finally get her share of the cake that it has been denied.
How you can support the Economic War
Like any other war, the economic war needs the support of citizens to succeed. To begin with, one can start by boycotting foreign made products and substitute them with locally manufactured ones. Development Channel has launched the elegant No Drop-Out Smartphone – the first made on the continent to counter the Chinese, South Korean, American and European made good-for-nothing expensive products that fill our market shelves.
As a benefit, the company gives you a stake with the all-new financial and welfare economic system that guarantees you a monthly dividend. This Africa-first approach will catapult the continent from a poor, dependent and underdeveloped block to one of the world’s most competitive and attractive areas for business development.
To join the war, visit http://www.developmentchannel.tv and be part of a vision that will make Africa the coveted continent it ought to be.

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