csomesense,
I hear what you're saying but having myself worked in cargo for 5+ years not only have I witnessed the cutting of corners but I mixed & drank with MK crews in the Ter Streep bar, Ostend.
I would say that MK has been like an accident waiting to happen but in their case would need to omit the waiting part.
Any airline may be only as good or bad as it's regulating authority permit it to be.
In the instance of an African registration, an airline pays a poorer nation to be registered there and that country does not want to deter such business thus they do not enforce regulations nor inspect the airline to ensure regulations are being adhered to.
Does it not concern you that such unregulated airlines and aircraft have European & N. American traffic rights and it could be your house they're flying over at some time in the future?
Regulated airlines spend a bucket load of money ensuring regulations are adhered to and often cannot compete with non-regulated airlines who may put profit before safety.
If African countries want to allow potentially dangerous aircraft into the air then perhaps those aircraft should be restricted to flying over Africa!