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12 October 2017 | Special Report

The plunder route to Panama: How African oligarchs steal from their countries

ZAM
The plunder route to Panama: How African oligarchs steal from their countries

The Panama Papers revealed that numerous African politicians have stored wealth in off-shore accounts. But how did the money get there? A transnational team of reporters in seven African countries, investigating looting-by-elite, unearthed how

  • Togo’s nationalised phosphate resources are sold under the market price to shady shippers.
  • Villagers are violently removed from ruby fields licensed to generals and ministers in Mozambique.
  • State budgets are used to build skyscrapers for the ruling party in Rwanda
  • Foreign currency controlled by the presidency is earmarked for ‘favourite’ companies in Burundi
  • Botswana ‘s president helps take tourism profits to off-shore tax havens.
  • South Africa’s phosphates are exported undeclared in conjunction with the Togo phosphate network.

The team report also documents victories being won against ‘Zupta’ looting in South Africa and asks if these developments could provide lessons to apply elsewhere.

The full report by the African Investigative Publishing Collective in partnership with Africa Uncensored and ZAM can be downloaded from HERE .

quot-img-1mistakes are always forgivable,if one has the courage to admit them.

By: eric young quot-img-1
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