Woes of Africa by Prince Hasevi

  The illicit financial flows that serve as by-product of capitalism or free market concept have distributive or ripple and networking effects on other conditions that threaten the welfare gains of the continent of Africa. Although, the concept has some advantages, as to encourage Multinational Enterprises or private sectors, national and international non-governmental organizations and International Intergovernmental Organizations that contribute largely to economic and financial growth, conflict prevention and many more which the traditional structures of States may not be able to achieve alone in the international arena. The cost of illicit financial flows or the loss from capital flights and the subsequent overwhelming debts to GDP ratios have immense challenges to economic stability that enable governments to invest adequately in agricultural research and rural infrastructural development that will facilitate food production and food security and poverty reduction as bei...

  Globalization is driving some waves across international fields of cooperation among States on trading and developmental issues despite emergence of international intergovernmental and non-governmental organizations that also operate within and through their borders. The traditional responsibilities of States as sovereignty are being stretched by these entities including food security governance structures which form one of the central parts of the cooperation. This has brought some opposite dimensions of opportunities to various developing countries, especially Africa. Even though, the continent enjoys some bilateral or multilateral dividends from entities in the international system. The malicious illicit financial flows activities have not been controlled by developed countries in the structures of their foreign policy to Africa.   Morgenthau (1948) emphasized that foreign policy is used as means to create balance of power among States, adopt imperialist approach and ...

   Week 1: Understanding Debt and IFFs and its impact specifically on Women and Girls  Debt is simply money borrowed from another person’s, entity or country without intention to pay it back with interests either through bond or loan. Bonds are debt instruments issued by government to raise funds for projects.  World Bank, 2022, stated the debt stock of least developed countries has rose to $8.7 trillion in 2020. However, for many countries the increase was in double digits. Which most of them their external debts exceed their Gross National Incomes (GNIs) and Gross Domestic Products (GDPs), Africa where investors are not interested in domestic bonds and being worsened by Covid19 pandemic. Multilateral financial institutions accounted 92 percent of debts flows to Sub-Saharan Africa with 10 percent from bilateral lenders. The external debts of Africa have risen from 23.4 percent to 43.5 percent in between 2012 and 2020 respectively, with high debts to GNI and exports ...

 We were told free market in capitalism breaks monopoly but forget monopoly revolves around corporate and political systems as well. Traders choose "corporate monopoly" to determine how to adjust their goods' prices for their personal interests than for humanity. State must invest in its production and supply chains to automatically adjust the market than solely dependent on private actors. Apart from inheritance, some billionaires are products of monopoly than creative entrepreneurship.