Africa spends billions every year paying Europe for using satellite communication systems, in entertainment, security, business or just communications. Gaddafi got rid of that by paying and setting up a satellite system in Africa for free, saving Africa billions annually going to Europe. Africa is divided into over 55 countries, with different currencies. This makes it hard for trade between African countries (and also makes African resources relatively accessible to foreign capital as most African currencies are pegged against the dollar and Franc). Gaddafi wanted to get rid of this and replace it with the DINAR (An African currency) for doing business in Africa, a currency whose value is not pegged against European currency, but instead pegged against Gold, of which Africa has plenty.
Gaddafi Nationalized oil in Libya, meaning, the government had control over the resources, sold it and used the money to provide services to the country. With nationalized resources, Libyans didn’t have to pay taxes, received free health care, free education from birth to PHD or as far as you wished, free housing for the poor and subsidies on things like food etc. The only people who worked in Libya were Chines, Tchadians, sudanese, and other African Immigrants. Gaddafi’s government made sure all Libyan investment like oiLibya were all within Africa. Libya was one of the free countries in the world that did not have any form of debts whatsoever. Libya had more money than it’s population could use and had billions stored a way around the world. All the money Libya stored in Europe including much of the Gold in Libya were all stolen by European governments.
Gaddafi created the African Union in 1999, during his lifetime AU functions were fully funded by Libya, accommodation for leaders, transportation, and day to day activities at the AU headquarters, now that is being done by European Union. As the saying goes “He who pays the piper calls the tune”. These are hard facts of what Colonel Gaddafi, the African King of Kings, did on the Continent only for us to watch him humiliated and killed like an animal without us raising a voice. Gaddafi spent millions and millions helping Mali, Niger, Chad, and Tunisia with high level irrigation in the deserts so people can be self sustained. Paid full and never expected anything back, in a grand project literally to ‘Green’ the entire Sahara dessert!
Way before the BRICS came up with idea of forming their own development bank to rival world bank and IMF, Gaddafi already initiated a high level talks into starting an African Development Bank where African governments would go and borrow money at low rates for developments of things like infrastructure, academic institutions, medical institutions, research institutions among other things. This would have saved Africa from the IMF with the predatory lending habits of their structural adjustment programs which are notorious for keeping African countries in poverty while they take ownership of their natural resources.
source: Pan-African Renaissance from Africalandpost
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