Pandora Papers and Africa: revealing but not surprising
Loic Venance/AFP The first President of Ivory Coast, Felix Houphouet-Boigny, once asked "who wouldn't want to invest some of their wealth in Switzerland?". His counterpart from the Democratic Republic of Congo (Zaire), Mobutu Sese Seko, had transferred $10 billion abroad, well before his ouster in 1997. Pandora papers , published by the "International Consortium of Investigative Journalists", reveal that a significant portion of the African political and economic elite is following Houphouet-Boigny's advice and Mobutu's practice. In the Papers, there are almost 50 politicians and public officials from Africa, including heads of states, who funnel their wealth to tax havens. President of Kenya, Uhuru Kenyatta is one of them. When he announced his candidacy for the presidential elections of 2013, he was portrayed as being "too rich to be corrupted". He made ambitious commitments on fighting against corruption and improving transparenc...