Foreign direct investment turns to foreign direct exploitation

Africa is being exploited by foreign multinational companies in the name of attracting foreign direct investment, which in reality if foreign direct exploitation, says Esther Muchiri, Legal Consultant and Lecturer at Norman Otieno & Co. Advocates in Kenya.

She made the statement on Wednesday speaking at the 7th Pa Africa Conference on tax and illicit financial flows held in Nairobi, Kenya from October 1-3, 2019. She criticizes the tax incentives African countries are offering to multinationals.

She argues these incentives are not benefiting the people of Kenya or other Africa countries. The different treaties Africa countries sign such as, double taxation agreement are not benefiting the people of Africa. Such treaties should be negotiated from the point of advantage to the people of Africa.

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