Why Africa Needs to Focus on Self-Reliance (Not Aid)

In this thought-provoking video, we delve into the importance of self-reliance for Africa's development, rather than relying on aid from external sources. We explore the detrimental effects of aid dependency and how it can hinder long-term growth and sustainability. Join us as we discuss the potential benefits of shifting towards a self-reliant model and empowering African nations to take control of their own futures.

[@kpg1973]

Aid? About 4% of african GDP is lost as capital flight, usually to Switzerland, from where it is invested across Eurasia and USA, according to research done by Gabriel Zuccman. Over 150 billion dollars of african capital are invested in Switzerland, and it is estimated that 6.5% of global offshore funds are of african origin.

[@HDindaniSparta]

That is so crazy!

[@kpg1973]

@@HDindaniSparta Capital flight can be caused by corruption and theft, but also by honest (relatively honest) people sending their money to foreign banks, or buying shares of foreign companies or houses in other countries. This isnt always illegal, but its still a loss of capital for the local economy. That capital doesnt disappear, it just goes to countries that are considered "safe" to stash stolen money, and the countries that are safer are the UK (a nation or literal state-sponsored pirates) where russian, african, arab and latin american tycoons buy billion dollar mansions, and Switzerland, which offers top secrecy with its international proxy network of banks and law firms in many countries (Panama, Seychelles, Singapore, Cayman Islands), all run out of Switzerland, doing their best since 1914 to keep hidden money stay hidden. They got their start in WW1, hiding french money from the french government and its 75% income tax meant to fund the war. Basically the EU does not like foreign immigrants, but they are happy to take foreign money, and the more corruption and theft in the third world, the more money goes to europe. The USA also takes a lot of foreign funds, hundreds of billions of real estate in the USA have been developed with russian and venezuelan oil money, in New York and Miami, and with argentinian wheat money.