Business
$50bn Exported Illegally From Africa Annually – Mbeki
Former South African President, Thabo Mbeki, says an estimated 50 billion dollars is exported from Africa illegally every year.
Mbeki made the statement in Johannesburg at the inauguration of a United Nations Economic Commission for Africa (UNECA) investigative panel, saying such money could be used to develop the continent.
UNECA constituted the panel, chaired by Mbeki, to investigate illegal financial flow out of the continent.
Mbeki said the loss should be addressed before it undermined Africa’s development.
“Almost 25 billion dollars comes into the continent; that means it loses twice the capital it receives in financial assistance.
“The panel will study the flow of money and understand how it is done.
“The African continent will expect the panel to provide practical measures to stop the flow,” Mbeki said.
He said it would take a year for the panel to complete its work.
“This is a matter of importance to the continent. In the end the investigation should result in action taken by the continent and individual countries.
“As a panel, we have no punitive measures. The panel will make proposals to those with punitive power and explain how the flow of money is done,” Mbeki said.
He said the panel would provide sufficient information about the different methods of the outflow.
“These are over-invoicing and under-pricing of exports and money laundering strategies,’’ Mbeki said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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