Sata says foreign countries like plundering Africa

Sata says foreign countries like plundering Africa

President Michael Sata has observed that unemployment was the biggest problem daunting the African continent at the moment.

Mr. Sata said there was therefore need for developing countries to create employment opportunities in the continent.

He was speaking at State House today when former South African President Thabo Mbeki paid a courtesy call on him.

President Sata noted that foreign countries have a tendency of plundering resources from developing countries such as Zambia and South Africa so that they get rich.

“Once our minds are clear that the gold that is in South Africa belongs South Africans, then that would be good,” Mr. Sata said.

And speaking earlier, former South African President Thabo Mbeki disclosed that the European Union (EU) was currently discussing legislation to control the movement of illicit money from poor countries especially those in Africa.

Mr. Mbeki explained that the illicit money transfers from Africa were from natural resources such as oil, gas and minerals.

He further explained that Africa currently losses about US$50 billion through illicit money transfer by multinational companies.

The US$50 billion illicit money is about half of the US$25 billion in direct foreign aid.

 

Mr. Mbeki has noted that most companies avoid paying tax because they argue that they were making losses.

 

He said the current G8 summit was discussing the issue of illicit money in Africa.

Mr. Mbeki further said resolutions of the meetings he would be having in Zambia would be sent to the G8 summit and EU.

 

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