Project Africa ideas is nothing new. It is only different technical solution from different parts of the world that all is put in one place: Africa..
Project Africa want to build up an productive and independent safe Africa. In the safety first and main part is economy. With todays economy in Africa African countries cannot manage them self. Up to 90% of the businesses do not pay taxes and in the other end 10 000 people die of no food every hour. With a cashless economy the government get access to all money in the economical system. This make it possible for them to take the taxes before it gets to the business accounts. With Project Africa system the tax revenue will increase in the countries. But this is only the start of something bigger.Now when the country have an safe cashless and transparent economy it is creating a safe haven for international investors. Investors can now follow who and why someone have their invested money. With a changes in justice system the funds can be sent back to investors if the justice system looks that this is needed. Part of the justice system can be automatic and block the funds to justice is made. Here we look to follow Spanish model that justice is done in 24-48 hours. The economical system program will self investigate what funds have been used for. Each part give and written answer and goes through a questionnaire. It is important that laws and as well fiscal laws is updated to todays level of international economy and protect investors and their funds..
With a new secure economy we will have investors to build up the production, real estate and energy/water production. This will make that the countries tax revenue will increase. Before up to 90%of the businesses did not pay taxes, so we now get a 80% boost in the tax revenue counted on that 10%still using cash and do not pay taxes and never use a bank. The central bank will need to changes the law and put a fees on cash handling. This will affect that the banks need also put a fee on cash handling. Print, register, secure, count, transport money cost Millions to Billions depend of the country to handle. The banks need to take a fee to handle cash. This will affect that most businesses and people will go over to cashless. Cashless will not have any fee to handle cash. Banks make the money on the credit markets, giving credit cards, credits, mortgages. Business banks make also money on trading values.
One tax idea is that individuals wont pay any taxes but there will be a VAT on products and services. Thanks to very much automatic cashless system, the system will work pretty much by it self. When money comes into the money system each money transaction, bill, salary have their own code and taxes and fees is taken before it goes to the account. Some of the money like VAT (Value Added Tax) will be in the bank to end of the account period when time to discount VAT and what need to be paid . Other fees and taxes is taken direct from the system. In case of incorrect tax or issues the money that is over taxed will be paid back in the end of the year and if there is taxes that could not be taken these will be billed end of the year. Pretty much similar to systems in Northern European countries. The idea is to increase businesses that people start up businesses in agriculture, tourism, transport, manufacturing and much more. New businesses could be tax and free from all fees during first year. This would also make it more secure for international business and manufactures to start up just because first year is that year when you have most cost of local, machinery and tools to run the businesses. Business setup should be free but for more advance concept like LLC or similar need to have a guarantee to run the business.
By increase and boost businesses and international manufactures to start up in Africa we get many times higher tax revenue. Businesses will come when its safe and cheaper to come that anywhere else. Today many businesses depend completely on Africa and raw materials from Africa. These businesses could produce all in Africa and save on manufacturing and import of raw materials. What to do with the tax revenues? The idea with higher tax revenue is to pay people in the country a national salary. Each person could get a monthly: 50-100 USD in national salary. This would help to eliminate the poverty and death of no food and water. All could have money for food and water. Many countries people live under 20 USD/Month, if they could get 50 USD a month they could changes from eating every second day to every day. If 100 USD a month they would have money to drink clean watter every day. In a +50c temperature the body need lots of watter.
Energy and watter production. Africa is perfect country for solar and wind energy production. There is some technical issues with that and that is to conserve the electricity in a safe way. The battery park thats normally is used for to conserve electricity do not support heat. So Project Africa idea is to use dead mined areas for this. Dead mines areas usually have a deep kilometers hole in the ground. That hole could be used for to build a huge watter tank and inside the tank battery park to conserve electricity for distribution with the watter in same pipelines.
There will be more coming up soon!