to illicit financial flows

Staff Reporter

IN a telling revelation at the African Organisation of Public Accounts Committee (Afropac) Conference in Kampala, Speaker Anita Among exposed the devastating impact of illicit financial flows (IFFs) on the continent, with Africa losing an estimated $88 billion (about R1.6 trillion) annually. The figures, described as a “haemorrhage of resources”, underscore a crisis that continues to cripple development and impoverish millions across the continent. Speaking at the conference, held at the Golden Tulip Hotel this week, Among did not mince her words: “The impact of this loss has and continues to be felt by our citizenry through foregone health facilities and services, schools, roads, rural electrification, and development of natural resources,” she declared. Her remarks laid bare the human cost of IFFs, which divert funds desperately needed for public services…

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Sunday Independent (Digital) - 1 Issue, 2025-03-23

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