Tag: flows

Africa: Tackling Illicit Financial Flows, a Matter of Survival for Africa’s Development

Addressing IFFs requires tackling imbalance in the international financial and trade systems, and confronting weak institutions According to the Economic Development in Africa Report 2020 by the UN Conference on Trade and Development (UNCTAD), Africa loses about US$88.6 billion, 3.7 per cent of its gross domestic product (GDP), annually in illicit financial flows. The High-Level

Zimbabwe: Illicit Financial Flows Cost Zimbabwe Over U.S.$12 Billion

Transparency International Zimbabwe (TIZ) said IFFs have cost Zimbabwe over US$12 billion in last three decades ending in 2015, with corruption acting not only as a direct source, but a conduit facilitating other commercial forms of illicit flows. Addressing the Mines and Mineral Development- Parliamentary Portfolio Committee, TIZ programs director Tafadzwa Chikumbu said across the

Africa Pilots Anti-Illicit Financial Flows Project

Africa has been selected to pilot a United Nations-funded project to reduce illicit financial flows. The pilot by the United Nation Conference on Trade and Development (UNCTAD) and the United Nations Office on Drugs and Crime (UNODC) support the project, which is aimed at helping the region achieve the Sustainable Development Goals (SDGs) in the