Charity criticises Jersey Finance

Jersey's finance industry is being criticised by a leading charity, as it announces plans to invest in Africa.

A new report says that doing business in the continent could be worth fifty-billion pounds for Jersey.

But Christian Aid are telling Jersey to stay out of Africa, claiming it could be harmful to developing countries.

From long term investors in Africa and to really change things on the ground in Africa, what needs to happen is changes on the ground in Africa.

– Joe Stead, Christian Aid

Its young, working age population is going to double over the next 25 years, from about 300 million to about 600 million people and that means it will need lots of new jobs creating, new plant equipment, machinery and that all needs investment and Africa can't generate that investment internally.

– Geoff Cook, Jersey Finance

The Channel Islands as robust sensible international finance centres are a very good opportunity for Africa to access the inward investment they desperately need.

– Mark Pragnell, Capital Economics

We are not the problem for Africa; we've put tax evasion beyond doubt. We've solved all these issues of transparency in terms of tax, in terms of the pursuit of crime - these issues are frankly issues in the past.

– Senator Philip Ozouf, Assistant Chief Minister