umu amakuru- SKILLS DEVELOPMENT WORKSHOP FOR AFRICAN PARLIAMENTARIANS ON TRACKING, STOPPING AND RETRIEVING ILLICIT FINANCIAL FLOWS IN AFRICA | Umusingi

SKILLS DEVELOPMENT WORKSHOP FOR AFRICAN PARLIAMENTARIANS ON TRACKING, STOPPING AND RETRIEVING ILLICIT FINANCIAL FLOWS IN AFRICA

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Some 52 parliamentarians from 23 African countries invited to strengthen their knowledge of the issues related to the IFFs, illicit financial flows in Africa on 5-6 September in Tunis. This important event is co-organized by Tax Justice Network Africa, the Forum on the African Tax Administration and the Tunisian Observatory of the Economy.

Ten years after the adoption of the African Mining Vision (AMV), the mining regimes in many African countries continue to be characterized by the same challenges for which the AMV has been put in place to address them, including: tax collection weaknesses, low government revenue share, ever increasing tax incentives, inadequate transparency and the aggression with which multinational companies (MNCs) create loopholes in the system to reduce their tax burdens.

The environment conducive to tax evasion has had an impact on national tax systems in sub-Saharan Africa. African governments had limited capacity to finance key development areas such as agriculture, health and education, which are respectively the United Nations Sustainable Development Goals (SDGs) 2, 3 and 4.

According to a report made in 2014 by a High-Level Panel chaired by former South African President Thabo Mbeki, « African gross domestic product (GDP) would be at least 16 per cent higher were it not for illicit financial outflow. These constitute funds that would otherwise be used for development ».

Importantly, the Panel revealed that, Africa is a net creditor to the world rather than a net debtor as is often assumed. The amount of ODA received by African countries is disturbingly lower than the amount of illicit financial outflows, hence the need to stem IFF.

Sidi El Moctar Cheiguer

President of ANEJ

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