Kagame: Stop begging, finance Africa’s development

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Africa will stop depending on donors to finance its own development if it tames illicit financial flows, improves taxation and adds value to its raw materials, according to Rwandan President Paul Kagame.

He was speaking at the opening of the African Leadership Forum last week.

The leader, who is also the current chairperson of the African Union and is leading the continental body’s reform process, said the continent is losing billions in illicit financial flows while it continues to depend on the goodwill of others.

“The value of illicit financial flows, evaded taxes, and commodity extraction greatly exceeds that of foreign aid. But, we have to take responsibility for the misallocation of Africa’s resources and take steps to correct that,” he…

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