Stop the Bleeding: a new African campaign on illicit flows

June 10th, 2015

On June 25, 2015, the Interim Working Group of the African IFF Campaign Platform will launch the “Stop the Bleeding” campaign in Nairobi, Kenya. The goal of the campaign is to curb the Illicit Financial Flows (IFFs) from Africa that perpetuate poverty and hinder development across the continent.

Each year, Africa loses upwards of US$50 billion to IFFs. The cost of this financial bleeding is enormous as it leaves Africa with little to invest and governments with little sustainable revenue for essential services. According to the African Union’s High Level Panel on Illicit Financial Flows, tax-evading multinational corporations are the largest facilitators of such IFFs.

With ‘Stop the Bleeding,’ the Interim Working Group (IWG) seeks to spearhead a unified effort to combat IFFs. The IWG consists of six Pan-African organizations: Tax Justice Network- Africa, Third World Network-Africa, AFRODAD, FEMNET, ITUC-Africa and Trust Africa. The campaign is also directly supported by the Global Alliance for Tax Justice.

For information on how to get involved follow Stop the Bleeding on Twitter @Stop_AfricaIFFs or on their Facebook page.

For more information on how to get involved please contact the following:

Written by David Duffeck

David is the Financial Transparency Coalition's summer intern. He has just graduated from the University of Missouri with a Bachelor of Arts in Political Science

Image used under Creative Commons licensing / Flickr User Xiaojun Deng

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