Financial Transparency Coalition

In spaces where a handful of elites from governments, civil society organizations (CSOs), and the private sector are exclusively invited, great and well- prepared speeches on Africa are heard. Yet experience has shown that often there is a great disconnect between avenues like the 26th African Union Summit and the people of the continent. The

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...