More News

MPs from Across Africa Strategize on Stopping Illicit Financial Flows
May 5th, 2015
African leaders made a strong declaration on the importance of curbing illicit financial flows when they endorsed a new report on the problem at the African Union Summit in January. The report, produced by the Mbeki High Level Panel on Illicit Financial Flows from Africa, estimated that Africa was losing between $50 billion and $150
Continue Reading
From the Atlantic to the Pacific, Civil Society Organizations across Africa Welcome AU Focus on Illicit Financial Flows
January 29th, 2015
ADDIS ABABA— As African leaders are meeting in  Addis Ababa to discuss growing threats from extremist groups, instability, and poverty, Heads of State are urged to give priority to  a growing threat to their economies: illicit financial flows. On Saturday, African Union Heads of State will review a report produced by the AU High Level Panel on Illicit Financial Flows, which has been chaired by Thabo Mbeki. The new report looks at the dire consequences of illicit financial outflows from Africa, estimated at US$50 billion per year, according to Global Financial Integrity (GFI) and the African Development Bank. “The fact that...
Continue Reading
Should Banks Profit From Dictators’ Money?
August 26th, 2011
As Libya prepares for the future, what are financial centres doing to stop the flow of stolen assets from dictators? The following is adapted from a speechmade by Transparency International’s vice-chair, Akere Muna, at the UN public service forum in Dar es Salaam, United Republic of Tanzania. If corruption, especially money laundering and bribery are to be tackled, we need to see action not only from developing countries, but also countries that are home to major financial centres. Here in Africa there is wide recognition that poor governance is one of the biggest barriers to sustainable development, what is missing is recognition...
Continue Reading
Follow @FinTrCo