Comments on: Is Africa still a victim of capital flight?

By: somethingbrite

somethingbrite — Wed, 28 Sep 2011 09:27:31 +0000

I guess that a strong African Union would be a bad thing for “Capital Flight”

By: Sewava

Sewava — Fri, 12 Aug 2011 19:31:38 +0000

I guess capital flight can only be stopped if western countries plays their part. Most African countries are ruled by Dictators groomed , financed and kept in power by the West. All illicit transactions be it capital , arms etc the West turns a blind eye . This must stop for the African child to have a chance .

By: Olez

Olez — Thu, 04 Aug 2011 22:34:12 +0000

The answer is both yes and no. With the current weak foreign direct investment laws and poor regulation of multi-national corporations in most African states, it is a challenge to stop capital flight. Corporate impunity thrives in Africa. Corporations in cahoots with political and administrative leaders stifle initiative to ensure greater benefits from investments for African States. Regulations that will limit capital flight have been flagrantly ignored or under hand deals execution to circumvent the law. Capital flight can be limited if African states became transparent and accountable for investments undertaken within their territories. Owing to the weak institutional structures in individual states, regional bodies and the African Union can step in to protect member states from corporate dictatorship. Unfortunately it is a challenge striking the balance between the need for foreign direct investment and protection against the negative effects of corporate operations.

By: Heriki

Heriki — Mon, 13 Jun 2011 22:26:21 +0000

No, I actually think the biggest issue for Africa is lack of talent. For example, South Africa has as many as 829,800 unfilled positions for highly skilled workers across a wide range of occupations. East Africa, which is growing very fast and especially Tanzania that is planning to spend in addition of US$ 27 billion, in the next 5 years, has serious deficiency in educated local and foreign talent. I highly doubt these countries can pull-off all these projects without the requisit talent. Hiring of foreign workers will increase cost tremendously, hence not viable. Which begs the question, what are plans for these countries on beefing up their talent pool? I have yet to hear efforts to bring back and or persuade African diaspora overseas to return, especially now with western countries in austerity measures. I am sold on all these new projects, because they actually needed, but we need answers on the talent issue.