How France Allegedly Fleeces Francophone Countries $500bn Yearly
France has been accused of milking from Francophone African countries 500 billion dollars yearly.
In a widely circulated social media video, a Zimbabwean diplomat and African Union Permanent Ambassador to the United States, Dr. Arikana Chihombori-Quao revealed that France, the colonial masters of Francophone countries, at independence allegedly lured or forced post-colonial leaders to sign a pact for the continuation of colonialism.
According to her, “When the colonizers were leaving between 1958 and 1961, France did something that is downright terrible. France made Francophone Africa countries sign a pact for the continuation of colonization.”
She recounts that “First, the French said, we built schools and a few roads, hospitals. We are going to call that colonial debt; hence, you will deposit 85 percent of your bank reserves with French Finance minister. Collectively, the French Minister of Finance will take all of your deposits and invest that money in the French Stock Exchange, under the French name. You may or may not know the returns.
“Today, France is taking out of poor Francophone Africa, over 500 billion dollars, year in year out. And, none is talking about it. The latest figures are saying, for every 14 billion dollars that the French take out of Africa, by the time they finish investing it, they are realizing over 300 billion for every 14 billion invested. In actuality, France is taking out of Africa, trillions of dollars every year.
“Should any of these countries want to access their own money that they deposited with France, they have to submit their own financial reports to France. And, if approved, they can only access up to 20 percent of that money as a loan at a commercial interest rate. Figure that out. That is our reality,” she queried.
The envoy said one of the crucial features of statehood is a national army, which can defend the state against external aggression, thus preserve the territorial integrity of the nation.
According to the forthright envoy, ‘’France included in the pact for the continuation of colonialism, the right to maintain a military presence in all the Francophone countries and to intervene, when they sense, the interests of France is threatened.’’
She said by extension, they have no right to training their military and purchase military hardware from any other country of the world apart from France.
“They are also under instruction that, if they need any military equipment, they can only get it from France. Their military can only be trained by France, and French has military presence in your own country. They can invade you, without notice, should they feels French interests are been violated, she explained.
In order to continue the social and cultural dominance, “Language of instruction shall be French. For all your minerals discovered or yet to be discovered, French has the right of first refusal. All the big contracts: private or public, French companies has the right of first refusal.
“This is precisely what our colonizers wanted, to leave us in a position that, no matter how hard we try, been independent is mission impossible,” she alleged.