Financial Transparency Coalition

Kenya is holding its presidential elections on August 9th, amid a surge in cost of living and a terrible drought.

Many experts have called Kenya, Uganda, and Tanzania the “next frontier” of gas and oil production. In fact, these reserves have the potential to turn these nations’ economies from “mixed” to “success” stories. One large impediment to this possibility, however, is trade misinvoicing, which occurs on a massive scale. It I so serious that this problem threatens their governments’ ability to capitalize on the potential gains associated with the discovery of oil and gas. The discovery of oil in Kenya and Uganda, and gas in Tanzania has thrust each of these nations into the world’s energy spotlight. In 2006 Uganda...

Alvin Mosiama, director of Tax Justice Network Africa, and a Task Force regional representative, has as much experience as anyone in campaigning on taxes and transparency for developing countries. In a great op-ed for Devex that everyone should read, he outlines how corporations aren't just shifting profits to tax havens, but simultaneously shifting the burden of funding the government to those that can least afford it.

In May, the Italian energy plant Eni discovered around ten trillion cubic feet of natural gas off the shore of Mozambique, increasing the estimated reserves of Mozambican gas above 50 trillion cubic feet. This discovery placed the East African nation in the spotlight of economic development and energy production. On the other hand, Mozambique’s new intra-regional competition with Kenya and Tanzania, investment by Europeans, and lack of solid economic foundations create the possibility of corruption. Therefore, as the country enjoys a boost to its GDP, only an effective, transparent control of finances will ensure a parallel benefit to its...