For roughly 300 years, Africa was badly submerged by western colonial powers. Europeans, who were supposedly civilized Christians, unjustifiably coveted natural resources from Africans. Read: When The Missionaries Came To Africa, They Had The Bible And We Had The Land. Then What? Majority of African Citizens were trampled upon and mistreated as slaves. African slaves earned the most menial wages ever known to mankind.
During the era of Colonization, when slaves protested, they were crushed even further. King Leopold II of Belgium led the killing of approximately 10 million Congolese protesters. Africa has struggled to come up since the colonial days with many foreigners naively referring to her citizens as lazy. Must Read: 10 Deepest Sayings On The Colonization Of Africa Era. Nonetheless, the unfairness of slavery has continued into modern times through multinational companies.
Today, Africa continues to be very dependent on the powers that wickedly looted Africa before, during and after the colonization Era. Read: Who Are The Top 6 Foreign Donors Contributing Over 50% To The Annual African Union Budget? Africa has relied heavily on The World Bank and The International Monetary Fund (IMF) to sustain minimal developments. The IMF is majorly controlled by former colonial powers. These powers continue to impose regulations and conditions on Africa that massively help maintain their financial control over the continent. These conditions include massive tax cuts to corporations exploiting Africa’s resources.
International Corporations have also exploited weak leadership in Africa by engaging in tax evasion through money laundering and other crimes. A report by Global Financial Integrity (GFI) noted that ‘$900 billion is secreted each year from underdeveloped economies, with an estimated $11.5 trillion currently stashed in havens. More than one quarter of these hubs belong to the UK, while Switzerland washes one-third of global capital flight.’ Of this $900 billion, $150 billion comes from Africa.
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