Panama Leaks: What Has Africa Lost?

One trending topic that has been discussed at length yet keeps re-occurring is the recent revelation by the Consortium of Investigative Journalists (Panama's Mossack Fonseca) that many African leaders , their friends or family members have
stacked billions of money in offshore accounts in tax havens like Panama.

It is sickening to realise that Africa losses more than $30 billion to $60 billion a year to illicit financial flows according to the United Nations Economic Commission for Africa (UNECA). While on the other hand Africa receives financial aids or grants from the Western World, it cannot be compared to what it has lost through these illicit financial flows .

To emphasis better Henry Kissinger once said, " Who controls the food supply controls the people ; who controls the energy can control whole continents; who controls money can control the world ". What these Western Countries practice can be called "Sustained Looting but Disguised as Generous Giving". As Western countries help their national corporations conspire with African corrupt leaders to loot billions of funds and in return turn back and accuse the continent of living in the dark. According to an NGO "Health Poverty  Action" foreign corporations loot more then $46 billion a year from Africa and at the same time around $35 billion moved directly to these tax havens  (Switzerland , Panama) .

An empirical evidence still remains  the following influential people  who have been revealed to have offshore accounts in the latest Panama Leaks at the detriment of their citizens, who they all claim to serve ; Jaynet Desiree Kabilla Kyungu (sister of DR. Congo's president , Joseph Kabilla), Kalpana Rawal ( Kenyan Deputy Chief of Justice) and Kojo Annan ( Son of former Secretary General of the United Nations, Kofi Annan), James Ibori (Former Delta State Governor -Nigeria) and Senator Bukola Saraki ( Nigerian Senate President and former Governor of Kwara State).

Also worthy of mention is the fact that more than $21 billion is paid by African government's for debt servicing while the aid system is still cloudy and shrouded in secrecy.

Finally according to Health and Poverty Action, nearly $192 left Africa as a result of looting to these Western World while $134 billion was returned as loans and aids leaving a shortfall of $58 billion in 2015 alone.

Finally , Whatever the case maybe, it is clear that they African leaders accused to be corrupt do not loot these funds alone as the Western World play a huge role in the whole process. Africa indeed has to resolve issues like these if it wants to make any economic and social progress.