Infographic: Africa’s natural resource wealth
Newly released Africa Progress Report says some foreign companies are avoiding taxes when they exploit resources.
Published On 12 May 2013
Foreign companies are involved with “unconscionable” practices in Africa’s mining sector, according former UN Secretary General Kofi Annan.
His conclusions are based on the annual Africa Progress Report released on Friday. “Some companies, often supported by dishonest officials, are using unethical tax avoidance, transfer pricing and anonymous company ownership to maximise their profits, while millions of Africans go without adequate nutrition, health and education,” Annan wrote in the report’s forward.
Visit the Africa Progress Panel for more on the report.
Correction: The natural resource map of Africa has been updated.
Source: Portland Communications