How Hosni Mubarak Got So Rich - Hata Gates hafui dafu

[Candid Scope]

The mounting pressure from 18 days of historic protests finally drove Egyptian President Hosni Mubarak from office, after three decades as his nation's iron-fisted ruler. But over that time, Mubarak amassed a fortune that should finance a pretty comfortable retirement. The British Guardian newspaper cites Middle Eastern sources placing the wealth of Mubarak and his family at somewhere between $40 billion and $70 billion. That's a pretty good pension for government work. The world's richest man--Mexican business magnate Carlos Slim--is worth about $54 billion, by comparison. Bill Gates is close behind, with a net worth of about $53 billion.

\Mubarak, of course, was a military man, not a businessman. But running a country with a suspended constitution for 30 years generates certain perks, and Mubarak was in a position to take a slice of virtually every significant business deal in the country, from development projects throughout the Nile basin to transit projects on the Suez Canal, which is a conduit for about 4 percent of the world's oil shipments. "There was no accountability, no need for transparency," says Prof. Amaney Jamal of Princeton University. "He was able to reach into the economic sphere and benefit from monopolies, bribery fees, red-tape fees, and nepotism. It was guaranteed profit."
Had the typical Egyptian enjoyed a morsel of that, Mubarak might still be in power. But Egypt, despite a cadre of well-educated young people, has struggled as an economic backwater. The nation's GDP per capita is just $6,200, according to the CIA--one-seventh what it is in the United States. That output ranks 136th in the world, even though Egypt ranks 16th in population. Mubarak had been working on a set of economic reforms, but they stalled during the global recession. The chronic lack of jobs and upward mobility was perhaps the biggest factor driving millions of enraged Egyptian youths into the streets, demanding change.

 

[Candid Scope]

Mubarak, of course, was a military man, not a businessman. But running a country with a suspended constitution for 30 years generates certain perks, and Mubarak was in a position to take a slice of virtually every significant business deal in the country, from development projects throughout the Nile basin to transit projects on the Suez Canal, which is a conduit for about 4 percent of the world's oil shipments. "There was no accountability, no need for transparency," says Prof. Amaney Jamal of Princeton University. "He was able to reach into the economic sphere and benefit from monopolies, bribery fees, red-tape fees, and nepotism. It was guaranteed profit."
Had the typical Egyptian enjoyed a morsel of that, Mubarak might still be in power. But Egypt, despite a cadre of well-educated young people, has struggled as an economic backwater. The nation's GDP per capita is just $6,200, according to the CIA--one-seventh what it is in the United States. That output ranks 136th in the world, even though Egypt ranks 16th in population. Mubarak had been working on a set of economic reforms, but they stalled during the global recession. The chronic lack of jobs and upward mobility was perhaps the biggest factor driving millions of enraged Egyptian youths into the streets, demanding change.

Ukiona viongozi wa serikali wanang'ang'ania madaraka kwa nguvu zote ujue ni ubinafsi wa uvujaji wa mali za umma kwa njia mbalimbali kama mikataba, rushwa na mianya mingine kwa manufaa yao binafsi na familia zao.

 

[Monstgala]

Hela nyingi alizoiba ziko Ulaya,Marekani na Uarabuni.Switzerland wamefreeze assets zake, Uingereza ana assets kibao lakini wako kimya wanaangalia upepo bado. At the end of the day nchi zinazo-endorse demokrasia kama nchi za Ulaya ndio kisima cha hela chafu za wizi wa madikteta na government officials wa corrupted countries. Its a shame how these thieves are supported on one side and on the other the same supporters potray the contrasting opinion...

 

[Candid Scope]

Hela nyingi alizoiba ziko Ulaya,Marekani na Uarabuni.Switzerland wamefreeze assets zake, Uingereza ana assets kibao lakini wako kimya wanaangalia upepo bado. At the end of the day nchi zinazo-endorse demokrasia kama nchi za Ulaya ndio kisima cha hela chafu za wizi wa madikteta na government officials wa corrupted countries. Its a shame how these thieves are supported on one side and on the other the same supporters potray the contrasting opinion...

Hizi nchi za magharibi ni ndumilakuwili. Kisiasa wanajivika kilemba cha ukoka wakati kwa mlango wa nyuma wapokea hela chafu kwa ajili ya kunufaika na riba yake

 

[Gad ONEYA]

Hypocrites of the highest degree, the western powers!

 

[Bajabiri]

Ukiona viongozi wa serikali wanang'ang'ania madaraka kwa nguvu zote ujue ni ubinafsi wa uvujaji wa mali za umma kwa njia mbalimbali kama mikataba, rushwa na mianya mingine kwa manufaa yao binafsi na familia zao.

si wananang'ang'ania madaraka tu,hata hawa wanaopita miaka mitano mitano,kwani hapa tanzania wanapokuwa madarakani huwa hawafanyi ubadhilifu?makampuni hewa na kujiuzia mali za umma,ANBEN,KIWIRA

 

[BRUCE LEE]

what about mkapa benjamini williams, Rostam abdulrasul Azizi, nazari karamagi, edward lowasa and kikwete? when their assets will be frozen? au hatujui kama nao wamelifisadi taifa letu?

 

[apolycaripto]

ABC News reports that experts believe the personal wealth of Mubarak and his family, estimated at from US$40 billion to $70 billion, was founded on military contracts made during his time as an air force officer.[10]