The Africa Report’s Patrick Smith says ‘at least $80 billions goes out of Africa each year in this form of illicit financial flows.’ And, much of it ends up ‘in the treasuries of the dependencies of the West: British Virgin Islands, Jersey, Guernesey’, he adds as we discuss the charges of embezzlement and money laundering against Isabel Dos Santos.
In This Story: France
France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.