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14 African Countries Forced By France To Pay Colonial Tax by deflover(m): 2:34pm On Nov 04, 2014
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14 African Countries Forced by France to Pay Colonial Tax For the Benefits of Slavery and Colonization
By: Mawuna Remarque KOUTONIN
Tuesday, January 28th, 2014 at 3:41 pm.
Africa-France-relationshipDid you know many African countries continue to pay colonial tax to France since their independence till today!

When Sékou Touré of Guinea decided in 1958 to get out of french colonial empire, and opted for the country independence, the french colonial elite in Paris got so furious, and in a historic act of fury the french administration in Guinea destroyed everything in the country which represented what they called the benefits from french colonization.

Three thousand French left the country, taking all their property and destroying anything that which could not be moved: schools, nurseries, public administration buildings were crumbled; cars, books, medicine, research institute instruments, tractors were crushed and sabotaged; horses, cows in the farms were killed, and food in warehouses were burned or poisoned.

The purpose of this outrageous act was to send a clear message to all other colonies that the consequences for rejecting France would be very high.

Slowly fear spread trough the african elite, and none after the Guinea events ever found the courage to follow the example of Sékou Touré, whose slogan was “We prefer freedom in poverty to opulence in slavery.”
Sylvanus Olympio, the first president of the Republic of Togo, a tiny country in west Africa, found a middle ground solution with the French.

He didn’t want his country to continue to be a french dominion, therefore he refused to sign the colonisation continuation pact De Gaule proposed, but agree to pay an annual debt to France for the so called benefits Togo got from french colonization.

It was the only conditions for the French not to destroy the country before leaving. However, the amount estimated by France was so big that the reimbursement of the so called “colonial debt” was close to 40% of the country budget in 1963.

The financial situation of the newly independent Togo was very unstable, so in order to get out the situation, Olympio decided to get out the french colonial money FCFA (the franc for french african colonies), and issue the country own currency.

On January 13, 1963, three days after he started printing his country own currency, a squad of illiterate soldiers backed by France killed the first elected president of newly independent Africa. Olympio was killed by an ex French Foreign Legionnaire army sergeant called Etienne Gnassingbe who supposedly received a bounty of $612 from the local French embassy for the hit man job.

Olympio’s dream was to build an independent and self-sufficient and self-reliant country. But the French didn’t like the idea.

On June 30, 1962, Modiba Keita , the first president of the Republic of Mali, decided to withdraw from the french colonial currency FCFA which was imposed on 12 newly independent African countries. For the Malian president, who was leaning more to a socialist economy, it was clear that colonisation continuation pact with France was a trap, a burden for the country development.

On November 19, 1968, like, Olympio, Keita will be the victim of a coup carried out by another ex French Foreign legionnaire, the Lieutenant Moussa Traoré.

In fact during that turbulent period of African fighting to liberate themselves from European colonization, France would repeatedly use many ex Foreign legionnaires to carry out coups against elected presidents:

- On January 1st, 1966, Jean-Bédel Bokassa, an ex french foreign legionnaire, carried a coup against David Dacko, the first President of the Central African Republic.
- On January 3, 1966, Maurice Yaméogo, the first President of the Republic of Upper Volta, now called Burkina Faso, was victim of a coup carried by Aboubacar Sangoulé Lamizana, an ex French legionnaire who fought with french troops in Indonesia and Algeria against these countries independence.
- on 26 October 1972, Mathieu Kérékou who was a security guard to President Hubert Maga, the first President of the Republic of Benin, carried a coup against the president, after he attended French military schools from 1968 to 1970.

In fact, during the last 50 years, a total of 67 coups happened in 26 countries in Africa, 16 of those countries are french ex-colonies, which means 61% of the coups happened in Francophone Africa.

Number of Coups in Africa by country
Ex French colonies Other African countries
Country Number of coup Country number of coup
Togo 1 Egypte 1
Tunisia 1 Libye 1
Cote d’Ivoire 1 Equatorial Guinea 1
Madagascar 1 Guinea Bissau 2
Rwanda 1 Liberia 2
Algeria 2 Nigeria 3
Congo – RDC 2 Ethiopia 3
Mali 2 Ouganda 4
Guinea Conakry 2 Soudan 5
SUB-TOTAL 1 13
Congo 3
Tchad 3
Burundi 4
Central Africa 4
Niger 4
Mauritania 4
Burkina Faso 5
Comores 5
SUB-TOTAL 2 32
TOTAL (1 + 2) 45 TOTAL 22

As these numbers demonstrate, France is quite desperate but active to keep a strong hold on his colonies what ever the cost, no matter what.

In March 2008, former French President Jacques Chirac said:

“Without Africa, France will slide down into the rank of a third [world] power”

Chirac’s predecessor François Mitterand already prophesied in 1957 that:

“Without Africa, France will have no history in the 21st century”

At this very moment I’m writing this article, 14 african countries are obliged by France, trough a colonial pact, to put 85% of their foreign reserve into France central bank under French minister of Finance control. Until now, 2014, Togo and about 13 other african countries still have to pay colonial debt to France. African leaders who refuse are killed or victim of coup. Those who obey are supported and rewarded by France with lavish lifestyle while their people endure extreme poverty, and desperation.

It’s such an evil system even denounced by the European Union, but France is not ready to move from that colonial system which puts about 500 billions dollars from Africa to its treasury year in year out.

We often accuse African leaders of corruption and serving western nations interests instead, but there is a clear explanation for that behavior. They behave so because they are afraid the be killed or victim of a coup. They want a powerful nation to back them in case of aggression or trouble. But, contrary to a friendly nation protection, the western protection is often offered in exchange of these leaders renouncing to serve their own people or nations’ interests.

African leaders would work in the interest of their people if they were not constantly stalked and bullied by colonial countries.

In 1958, scared about the consequence of choosing independence from France, Leopold Sédar Senghor declared: “The choice of the Senegalese people is independence; they want it to take place only in friendship with France, not in dispute.”

From then on France accepted only an “independence on paper” for his colonies, but signed binding “Cooperation Accords”, detailing the nature of their relations with France, in particular ties to France colonial currency (the Franc), France educational system, military and commercial preferences.

Below are the 11 main components of the Colonisation continuation pact since 1950s:


#1. Colonial Debt for the benefits of France colonization

The newly “independent” countries should pay for the infrastructure built by France in the country during colonization.

I still have to find out the complete details about the amounts, the evaluation of the colonial benefits and the terms of payment imposed on the african countries, but we are working on that (help us with info).


#2. Automatic confiscation of national reserves

The African countries should deposit their national monetary reserves into France Central bank.

France has been holding the national reserves of fourteen african countries since 1961: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon.

“The monetary policy governing such a diverse aggregation of countries is uncomplicated because it is, in fact, operated by the French Treasury, without reference to the central fiscal authorities of any of the WAEMU or the CEMAC. Under the terms of the agreement which set up these banks and the CFA the Central Bank of each African country is obliged to keep at least 65% of its foreign exchange reserves in an “operations account” held at the French Treasury, as well as another 20% to cover financial liabilities.

The CFA central banks also impose a cap on credit extended to each member country equivalent to 20% of that country’s public revenue in the preceding year. Even though the BEAC and the BCEAO have an overdraft facility with the French Treasury, the drawdowns on those overdraft facilities are subject to the consent of the French Treasury. The final say is that of the French Treasury which has invested the foreign reserves of the African countries in its own name on the Paris Bourse.

In short, more than 80% of the foreign reserves of these African countries are deposited in the “operations accounts” controlled by the French Treasury. The two CFA banks are African in name, but have no monetary policies of their own. The countries themselves do not know, nor are they told, how much of the pool of foreign reserves held by the French Treasury belongs to them as a group or individually.

The earnings of the investment of these funds in the French Treasury pool are supposed to be added to the pool but no accounting is given to either the banks or the countries of the details of any such changes. The limited group of high officials in the French Treasury who have knowledge of the amounts in the “operations accounts”, where these funds are invested; whether there is a profit on these investments; are prohibited from disclosing any of this information to the CFA banks or the central banks of the African states .” Wrote Dr. Gary K. Busch

It’s now estimated that France is holding close to 500 billions African countries money in its treasury, and would do anything to fight anyone who want to shed a light on this dark side of the old empire.

The African countries don’t have access to that money.

France allows them to access only 15% of the money in any given year. If they need more than that, they have to borrow the extra money from their own 65% from the French Treasury at commercial rates.

To make things more tragic, France impose a cap on the amount of money the countries could borrow from the reserve. The cap is fixed at 20% of their public revenue in the preceding year. If the countries need to borrow more than 20% of their own money, France has a veto.

Former French President Jacques Chirac recently spoke about the African nations money in France banks. Here is a video of him speaking about the french exploitation scheme. He is speaking in French, but here is a short excerpt transcript: “We have to be honest, and acknowledge that a big part of the money in our banks come precisely from the exploitation of the African continent.”

#3. Right of first refusal on any raw or natural resource discovered in the country

France has the first right to buy any natural resources found in the land of its ex-colonies. It’s only after France would say, “I’m not interested”, that the African countries are allowed to seek other partners.


#4. Priority to French interests and companies in public procurement and public biding

In the award of government contracts, French companies must be considered first, and only after that these countries could look elsewhere. It doesn’t matter if the african countries can obtain better value for money elsewhere.

As consequence, in many of the french ex-colonies, all the majors economical assets of the countries are in the hand of french expatriates. In Côte d’Ivoire, for example, french companies own and control all the major utilities – water, electricity, telephone, transport, ports and major banks. The same in commerce, construction, and agriculture.

In the end, as I’ve written in a previous article, Africans now Live On A Continent Owned by Europeans!


#5. Exclusive right to supply military equipment and Train the country military officers

Through a sophisticated scheme of scholarships, grants, and “Defense Agreements” attached to the Colonial Pact, the africans should send their senior military officers for training in France or French ran-training facilities.

The situation on the continent now is that France has trained hundreds, even thousands of traitors and nourish them. They are dormant when they are not needed, and activated when needed for a coup or any other purpose!


#6. Right for France to pre-deploy troops and intervene military in the country to defend its interests

Under something called “Defence Agreements” attached to the Colonial Pact, France had the legal right to intervene militarily in the African countries, and also to station troops permanently in bases and military facilities in those
countries, run entirely by the French.

French military bases in Africa

French-military-bases-in-africa

When President Laurent Gbagbo of Côte d’Ivoire tried to end the French exploitation of the country, France organized a coup. During the long process to oust Gbagbo, France tanks, helicopter gunships and Special Forces intervened directly in the conflit, fired on civilians and killed many.

To add insult to injury, France estimated that the French business community had lost several millions of dollars when in the rush to leave Abidjan in 2006 the French Army massacred 65 unarmed civilians and wounded 1,200 others.

After France succeeded the coup, and transferred power to Alassane Outtara, France requested Ouattara government to pay compensation to French business community for the losses during the civil war.

Indeed the Ouattara government paid them twice what they said they had lost in leaving.


#7. Obligation to make French the official language of the country and the language for education

Oui, Monsieur. Vous devez parlez français, la langue de Molière!

A French language and culture dissemination organization has been created called “Francophonie” with several satellites and affiliates organizations supervised by the French Minister of Foreign Affairs.

As demonstrated in this article, if French is the only language you speak, you’d have access to less than 4% of humanity knowledge and ideas. That’s very limiting.


#8. Obligation to use France colonial money FCFA

That’s the real milk cow for France, but it’s such an evil system even denounced by the European Union, but France is not ready to move from that colonial system which puts about 500 billions dollars from Africa to its treasury.

During the introduction of Euro currency in Europe, other european countries discovered the french exploitation scheme. Many, specially the nordic countries, were appalled and suggested France get rid of the system, but unsuccessfully.


#9. Obligation to send France annual balance and reserve report.

Without the report, no money.

Anyway the secretary of the Central banks of the ex-colonies, and the secretary of the bi-annual meeting of the Ministers of Finance of the ex-colonies is carried out by France Central bank / Treasury.


#10. Renonciation to enter into military alliance with any other country unless authorized by France

African countries in general are the ones with will less regional military alliances. Most of the countries have only military alliances with their ex-colonisers! (funny, but you can’t do better!).

In the case France ex-colonies, France forbid them to seek other military alliance except the one it offered them.


#11. Obligation to ally with France in situation of war or global crisis

Over one million africans soldiers fought for the defeat of nazism and fascism during the second world war.

Their contribution is often ignored or minimized, but when you think that it took only 6 weeks for Germany to defeat France in 1940, France knows that Africans could be useful for fighting for la “Grandeur de la France” in the future.

There is something almost psychopathic in the relation of France with Africa.

First, France is severely addicted to looting and exploitation of Africa since the time of slavery. Then there is this complete lack of creativity and imagination of french elite to think beyond the past and tradition.

Finally, France has 2 institutions which are completely frozen into the past, inhabited by paranoid and psychopath “haut fonctionnaires” who spread fear of apocalypse if France would change, and whose ideological reference still comes from the 19th century romanticism: they are the Minister of Finance and Budget of France and the Minister of Foreign affairs of France.

These 2 institutions are not only a threat to Africa, but to the French themselves.

It’s up to us as African to free ourselves, without asking for permission, because I still can’t understand for example how 450 french soldiers in Côte d’Ivoire could control a population of 20 millions people!?

People first reaction when they learn about the french colonial tax is often a question: “Until when?”

For historical comparison, France made Haiti to pay the modern equivalent of $21 billion from 1804 till 1947 (almost one century and half) for the losses caused to french slave traders by the abolition of slavery and the liberation of the Haitian slaves.

African countries are paying the colonial tax only for the last 50 years, so I think one century of payment might be left!


http://www.siliconafrica.com/france-colonial-tax/

5 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by Leopantro: 2:46pm On Nov 04, 2014
and i was complaining about Babangida and OBJ.

2 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by anonymous6(f): 3:02pm On Nov 04, 2014
I guess this is another reason their is a difference between anglophone african and francophone african countries in the way they deal with their former colonizers and how they moved forward as a country. In francophone african countries they weren't allowed to even make their own movies as well when they were still under France: https://www.nairaland.com/1981411/rise-african-films

1 Like

Re: 14 African Countries Forced By France To Pay Colonial Tax by deflover(m): 3:08pm On Nov 04, 2014
i feel there is alot we dont know about.....same thing applies to Abacha and how he was killed......i dont think Nigeria is left out of this too...imagine all the money this country makes.....yet we cant fill the impact cry cry cry cry
Re: 14 African Countries Forced By France To Pay Colonial Tax by Idrismusty97(m): 3:22pm On Nov 04, 2014
As these numbers demonstrate, France is quite desperate but active to keep a strong hold on his colonies what ever the cost, no matter what.

In March 2008, former French President Jacques Chirac said:

“Without Africa, France will slide down into the rank of a third [world] power”

Chirac’s predecessor François Mitterand already prophesied in 1957 that:

“Without Africa, France will have no history in the 21st century”
Bloody demons! You can't keep a stronghold in Africa forever, you can't! Just watch, All your colonies will gradually be freed, just like Algeria you shall watch them progress, you won't just lose your history in the 21st century, you would become a nobody. Oh no! To think we are even completely surrounded by France colonies is disheartening sad...We can't do anything for Niger republic, Cameroon, Chad, and Benin republic. They are our next door neighbours for god sake! Niger republic is especially a sad case, France have a uranium mining company named Areva operating there that is richer than the entire country! The head of that company is now the president of the country. A freaking France puppet! Why? Why? Why!? We Africans are our worst enemies. How can we betray our only heritage? As the article said, France have trained and lavish thousands of traitors throughout Africa specially for the purpose of carrying out coups, Murdering of nationalists who are patriotic to their country and opposed the France government. Why are we so crude to ourselves? And France are using that as an advantage. 61% of the Coups in Africa for the pass 50years are carried out by France Ex Foreign legionnaires. They walk in like a boss splashing millions of dollars to boko haram as ransom whenever their citizens is kidnapped(in secret without even discussing with the Nigeria authorities). They even go to the length of exchanging weapons for hostage. France, Cameroon and the rest of their African puppets have greatly contributed to the growth of boko haram!

Who knows if France(or Europe in general) have a role to play in the current economic crisis in Ghana. Like Nigeria they too are surrounded by France puppets! We should stop castigating Ghana and learn to work with them, they are our only friends! Not until the francophone countries in Sub-Sahara Africa stop being puppets and fight back we don't have any friends. Remember the leaked wiki reports of Cameroon and France planning an invasion of Nigeria and capturing obudu in calabar. While we should be ready for any onslaughts from this France puppets we should understand they are remotely being controlled by their demon masters. Imagine Africa contributing $500bn to France wealths, If we are still taking loans and Grants from these people we should stop! They should shove their bloody notes up their pink áss!

Good news North Africa fought back! Especially Algeria, they taught France a lesson they will never forget. Not less than 400,000 dead from both sides but at least they gain freedom and dominance. During Gaddafi regime Libya was a staunch critic of the France government, little wonder the France lead the air assault on Libya shooting down their jets during the uprising. In their mind the French probably thought "it's payback time". Now the Tuaregs are fighting back in Mali, Rebels are sprunging up throughout Mali, Chad and Niger republic...You can send in all your so call "peace keepers", with the satellite technology and all other technology you have in your disposal you can never break the will of the people!

Watch this enlightening Al jazeera video of how France, Europe and even China scramble for Africa. If only we are more united sad...

The New Scramble for Africa
http://m.aljazeera.com/story/2014723203324932466

The state of French influence in Africa
http://m.aljazeera.com/story/201486184053917661

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Re: 14 African Countries Forced By France To Pay Colonial Tax by GHKWAME1: 6:49pm On Nov 04, 2014
I smell Bakassi Peninsular part two.
Idrismusty97:
Bloody demons! You can't keep a stronghold in Africa forever, you can't! Oh no! To think we are even completely surrounded by France colonies is disheartening sad...We can't do anything for Niger republic, Cameroon, Chad, and Benin republic. They are our next door neighbours for god sake! Niger republic is especially a sad case, France have a uranium mining company named Areva operating there that is richer than the entire country! The head of that company is now the president of the country. A freaking France puppet! Why? Why? Why!? We Africans are our worst enemies. How can we betray our only heritage? As the article said, France have trained and lavish thousands of traitors throughout Africa specially for the purpose of carrying out coups, Murdering of nationalists who are patriotic to their country and opposed the France government. Why are we so crude to ourselves? And France are using that as an advantage. 61% of the Coups in Africa for the pass 50years are carried out by France Ex Foreign legionnaires.

Who knows if France(or Europe in general) have a role to play in the current economic crisis in Ghana. Like Nigeria they too are surrounded by France puppets! We should stop castigating Ghana and learn to work with them, they are our only friends! Not until the francophone countries in Sub-Sahara Africa stop being puppets and fight back we don't have any friends. Remember the leaked wiki reports of Cameroon and France planning an invasion of Nigeria and capturing obudu in calabar. While we should be ready for any onslaughts from this France puppets we should understand they are remotely being controlled by their demon masters.

Good news North Africa fought back! Especially Algeria, they taught France a lesson they will never forget. Not less than 400,000 dead from both sides but at least they gain freedom and dominance.




After years of failed negotiations, Ghana has
finally filed a suit against Cote d’Ivoire over its
maritime boundary with the neighbouring West
African country.
Ghana, in the suit, would seek a declaration that
it has not encroached the territorial waters of
Cote d’Ivoire in the exploration of oil. Ghana’s
arbitration proceeding is under the UN
Convention on the Law of the Sea (UNCLOS).
In 2010, Ivory Coast petitioned the United
Nations to complete the demarcation of the
Ivorian maritime boundary with Ghana days after
the American exploration firm Vanco discovered
oil in the Dzata-1 deepwater-well. The issue
attracted considerable media attention, and some
local media claimed that the petition was an
attempt by Ivory Coast to lay claim to Ghana’s
oil.
A former Minister for Lands and Natural
Resources Alhaji Inusah Fuseini in November
2013 had warned in an interview with Joy FM’s
Super Morning Show that the dispute between
Ghana and Cote d'Ivoire may end up at the
United Nations Convention on the Law of the
Sea .
That notwithstanding, a joint committee was set
up by both countries to address the matter early
this year. Ghana had reposed confidence in the
joint committee to resolve the dispute peacefully
by the middle of the year. But it appears the
roadmap to address the dispute has hit a snag
again.
Sources close to Joy News say Ghana has
served Cote d’Ivoire with a notification of
arbitration in order to avoid a diplomatic row.
The statement of claim by Ghana reads in part:
“Having failed to reach a settlement after
successive negotiations and exchange of views
over an extended period of time, Ghana has
elected to submit the dispute concerning the
determination of each maritime boundary with
Cote d’Ivoire to the arbitral procedure provided
for under Annex VII of UNCLOS.”
The Attorney General and Minister of Justice,
Marietta Brew Appiah-Oppong will lead Ghana’s
legal delegation to the International Tribunal on
the Law of the Sea after the necessary legal
documents have been filed and served on parties
in the dispute.
Joy News has also learnt the Attorney General
will address a news conference later today on
the matter. http:// http://www.myjoyonline.com/news/2014/September-23rd/ghana-sues-cote-divoire-over-maritime-dispute.php

3 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by GHKWAME1: 6:59pm On Nov 04, 2014
Ivory Coast sent hit squads to Ghana to
kill followers of former strongman
Laurent Gbagbo and paid Liberian
mercenaries not to stage cross-border
attacks for Gbagbo, a UN report said.
The Ghana government told United
Nations experts they had "foiled" at
least two missions this year by Ivory
Coast agents to kill or abduct Gbagbo
associates, said the report obtained by
AFP on Sunday .
"The Ghanaian authorities claimed to
have foiled at least two such missions in
early 2013," said the report.
At least one former Gbagbo supporter,
who had returned to Ivory Coast, "had
been abducted and had disappeared," it
added.
According to the report, Payments were made to
Liberian mercenaries and Ivory Coast militia
commanders in a bid to head off attacks aimed
at destabilising President Alassane Ouattara's
government.
The report to the Security Council, by
experts who monitor UN sanctions
against Liberia, cast new light on efforts by
Ouattara's government to blunt the threat from
Gbagbo, whose refusal to concede defeat in a
2010 presidential election sparked unrest in
which thousands died.
Gbagbo is now at the International
Criminal Court in The Hague facing
charges of crimes against humanity. But several
cross-border attacks were
staged from Liberia in 2012 and the UNmission in
Ivory Coast has said. several times that new
incidents are possible.
The Ghanaian government told the UN experts in
July that its neighbour had been sending Ivorian
agents intending to assassinate or kidnap
militant pro-Gbagbo refugees .
The experts said they had been unable
to "independently verify" the claims.
But they met several former Gbagbo
ministers in the Ghanaian capital, Accra, who
said they wanted to return "but were afraid that
they would be killed if they succeeded."
Gbagbo refused to accept the result of
the presidential election in late 2010. At least
3,000 people died in five months of unrest before
he was captured in an operation backed by UN
and French forces.
Ivory Coast was gripped by civil war for
much of the previous two decades.
Ouattara has embarked on
reconciliation efforts but has been urged to move
faster and to clamp down on corruption.
Government payments
The UN experts said they had "gathered
substantive information" concerning payments
made from May this year by the Ivory Coast
government to "key Liberian mercenaries." Two
of the mercenary leaders were identified as
Isaac Chegbo, who is also known as "Bob
Marley" and Augustine "Bush Dog" Vleyee.
Money was paid for "collecting
information from these individuals and
discouraging them from conducting
cross-border attacks," said the report.
It said the payments were made by the
Ivory Coast interior ministry's bureau of
operational intelligence.
The mercenaries told the UN sanctions
experts they were taken to Abidjan to
receive money. One said he was given $
8,000 but others said they got as little as $2,000.
"Several of the mercenaries who had
received such payments complained that they
had been promised substantially more money,"
the report said.
The mercenaries "alleged that additional
financing had been misappropriated by Ivorian
officials" and the Liberian intermediary.
The UN report said that while attacks
had diminished this year, the payments
were not a "sustainable" way of keeping
the lid on tensions in the country.
http://m.aljazeera.com/se/201312252716257571

3 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by Seun(m): 11:06am On Nov 05, 2014
Re: 14 African Countries Forced By France To Pay Colonial Tax by Idrismusty97(m): 1:16pm On Nov 05, 2014
Seun:
Apparently this article is not that accurate:
http://www.quora.com/Is-it-true-that-14-African-countries-are-still-forced-to-pay-colonial-taxes-to-France
But it is true France is holding the reserve of 14 African countries in its central bank. Many sources including international medias have confirmed it. And isn't that quora site a forum? Different people are giving their opinions, How does it makes the article less accurate? Here is what someone said;
The fact is that France holds, owns and profits
from interest on the foreign currency reserves of
15 African states who must deposit 65% (down
from 100% where it started) of their foreign
exchange reserves and all revenue earned outside
of the Union, into a Central Bank in France. This
means that after paying just 0.75% in interest to
the African states, the French government keeps
the rest.
Re: 14 African Countries Forced By France To Pay Colonial Tax by Nobody: 10:30am On Nov 24, 2014
How I wish the other African countries could fight like Algeria

2 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by lonelydora: 10:35am On Nov 24, 2014
True talk.
Re: 14 African Countries Forced By France To Pay Colonial Tax by Garvey1: 10:44pm On Nov 26, 2014
Drive the white dogs out!!!!!!!

2 Likes

Re: 14 African Countries Forced By France To Pay Colonial Tax by igbo2011(m): 9:44pm On Nov 29, 2014

1 Like 1 Share

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