Aid to Africa: donations from west mask ‘$60bn looting’ of continent | Global development | The Guardian

Western countries are using aid to Africa as a smokescreen to hide the “sustained looting” of the continent as it loses nearly $60bn a year through tax evasionclimate change mitigation, and the flight of profits earned by foreign multinational companies, a group of NGOs has claimed.

Although sub-Saharan Africa receives $134bn each year in loans, foreign investment and development aid, research released on Tuesday by a group of UK and Africa-based NGOs suggests that $192bn leaves the region, leaving a $58bn shortfall.

TheGuardian https://www.theguardian.com/global-development/2014/jul/15/aid-africa-west-looting-continent