Although Africans must continue to support the Black Lives Matter movement, there is also the need for them to raise their voices against injustices in other African countries
Poverty and inequality in Africa also increased as a result of the structural adjustment programmes imposed by the Bretton Woods institutions after the debt crises of the 1980s and 1990s.
Free-market reforms had to be coupled with austerity measures that decreased public spending, thereby deepening inequality. Critics also accuse developed countries of using structural adjustment programmes as a tool ofby conditioning their loans on reforms that open up developing markets to exploitative investments by their multinational corporations.
To profit from these foreign investments and retain capital for tackling poverty and inequality, Africans governments must reduce or eliminate the tax incentives and exemptions they award to multinational corporations in the name of attracting investments. Aby the Tax Justice Network-Africa and Action Aid found that the majority of these corporations would invest in Africa even without tax breaks. According to the report, Ghana, Nigeria, and Senegal lose as much as $5.
African countries must also stanch the flight of capital from these multinational corporations to tax havens by reviewing, renegotiating, or cancelling tax treaties that expose them to profit-shifting or treaty-shopping. Africa loses at leastthrough illicit financial flows — more than the official development assistance it receives.
Africa’s capital is not lost to foreign entities alone, but also to corrupt African elites and politicians, many of whom enter politics with the main objective of plundering their states. African journalists and ordinary citizens must expose corruption and agitate for justice to be meted out to offenders. A case in point is the daughter of Angola’s former president,
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