Saturday, November 17, 2012

UN audits of over $300 million in aid delivered to Somalia in the last 11 years revealed that at least two thirds of it was stolen by Somali officials

There is also the problem with corruption. UN audits of over $300 million in aid delivered to Somalia in the last 11 years revealed that at least two thirds of it was stolen by Somali officials and aid officials. The theft was often blatant and Somalis simply deny guilt when presented with evidence of their crimes. Attempts to impose fiscal controls resulted in all manner of deceptions and even death threats against the foreign auditors and administrators.










U.S. oil and gas companies are increasingly taking on acreage in East Africa. Houston-based Marathon Oil Corp. (MRO) (MRO) paid $35 million to Africa Oil Corp. (AOI) for stakes in two Kenyan prospects last month, while Anadarko Petroleum Corp. (APC) (APC), also based in Houston, has made the decade’s biggest gas discovery off Mozambique and has rights to explore off Kenya’s coast.















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