News and Ideas (27)
Group Highlights 14 Steps African Leaders can take to Energize Fight against Illicit Flows following Addis Ababa Action Agenda, SDGs, and ECA High Level Panel
As national leaders meet at the African Union Summit in Addis Ababa this week, a group of civil society experts has issued a set of recommendations to address illicit financial flows (IFFs), an issue of critical importance to regional development. Titled Accelerating the IFF Agenda for African Countries (the Accelerated IFF Agenda), the purpose of the document is to highlight for African leaders fourteen steps that can be taken to jumpstart efforts to address IFFs. Among the recommendations are suggestions to establish a multi-agency approach to fight IFFs, to collect information to identify corporate ownership, and certain tax-related measures.
Thomson Reuters Foundation, in partnership with TrustAfrica, The African Centre for Media Excellence, The Institute for the Advancement of Journalism and The African Centre for Training Journalists and Communicators, is looking for investigative or financial/business journalists based anywhere in Africa to take part in a long-term scheme that will help them produce stories and investigations on the abuse of tax laws and illicit financial flows. The scheme involves intensive workshops, ongoing advice from experienced investigative journalists, and access to expertise and story leads.
The deadline is 11th January 2016.
This December 2015 report from Global Financial Integrity, “Illicit Financial Flows from Developing Countries: 2004-2013,” finds that developing and emerging economies lost US$7.8 trillion in illicit financial flows from 2004 through 2013, with illicit outflows increasing at an average rate of 6.5 percent per year—nearly twice as fast as global GDP.