From the Editor’s Keyboard

Misinvoicing is Killing Africa

By  | 12 May 2014 at 22:23 | 1184 views

Fraudulent misinvoicing is another reason why Africa remains poor. A recent report from the Washington DC-based Global Financial Integrity has shown this clearly when it examined five countries-Ghana, Mozambique, Kenya, Tanzania and Uganda. Some of these countries are often touted as examples of healthy and progressive economies but the evidence does not seem to support that assertion in a meaningful way. One wonders what the situation is with regards to a country like Sierra Leone where strict fiscal control and discipline are still huge problems. I would therefore like to urge GFI do a study of smaller countries like Sierra Leone, Guinea and Liberia, to mention just three, with regards to misinvoicing. I am sure the evidence that will come out will be devastating and catastrophic.

The GFI report also says what needs to be done to save Africa’s economies and has offered very cogent policy recommendations which, if followed by African countries, not just the five mentioned, will turn African countries into Singapores and Hong Kongs overnight; but that demands a lot of work and a lot of good leadership.

Please click on the link below to read the report which in essence tells you that Africa is indeed one of the richest continents, if not the richest in the world but which is daily assaulted by highly intelligent and crafty thieves both local and foreign. Fraudulent misinvoicing is daylight robbery. Here is the link:

http://www.gfintegrity.org/content/view/686/70/

PS: Many thanks to Dr. Alie Kabba of Chicago, USA, for bringing this report to our attention.

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