news analysis advocacy

African Migration, Global Inequalities,
and Human Rights

tips on searching

About
AfricaFocus


Support AfricaFocus
Priority Issues


Focus on African Countries


Talking Points on Illicit Financial Flows and Tax Justice

  • Inequality and tax evasion are growing both within and between countries, while the rich on all continents funnel their wealth into secret bank accounts scattered around the world. This erodes the public sector, starves countries of funds needed for development, and drives up deficits.

  • The trend is worldwide as multinational companies shuttle money and subsidiaries between countries to minimize taxes, while the ultra-rich and organized crime hide their assets in untraceable shell accounts. But the toll in Africa is enormous, with losses estimated at $50 billion to $80 billion a year due to illicit capital flight.

  • One recent study, for example, estimated at least US$60.8 billion in losses due to transfer pricing in or out of 5 African Countries (Ghana, Kenya, Mozambique, Tanzania, and Uganda), from 2002-2011.

  • The good news is that governments and multilateral agencies around the world are waking up to this issue, and the pressure for transparency in financial reporting is growing. The same technical mechanisms that have been used to track funds of drug traffickers and terrorist networks can now be used, if there is political will, to track monies lost to illicit financial flows and tax evasion.

Recent bulletins on illicit financial flows and tax justice


AfricaFocus Bulletin

May 25, 2015  Africa/Global: Africa, Race, and World Order
    "The failure to acknowledge race as a fundamental feature of today's unequal world order remains a striking weakness of radical as well as conventional analyses of that order. Current global and national socioeconomic hierarchies are not mere residues of a bygone era of primitive accumulation. Just as it should be inconceivable to address the past, present, and future of American society without giving central attention to the role of African American struggles, so analyzing and addressing 21st-century structures of global inequality requires giving central attention to Africa."

May 18, 2015  Africa/Global: Decarbonizing Development?
    Decarbonizing Development, a new report from the World Bank, lays out a target of "zero carbon future" by the end of the century. The target year goal is the most conservative of the options laid out for negotiations in the climate summit in Paris in December. Such a long transition can rightly be criticized by climate activists and scientists as falling far short, as can the Bank's own record of continued support for fossil fuels implicitly faulted in this report.

May 11, 2015  West Africa: Ebola Down But Not Out
    "The [Ebola] epidemic is at its lowest but not over yet. The recent weeks have seen an important decrease in new confirmed Ebola cases across West Africa. Liberia is now close to being declared Ebolafree on 9 May, while Sierra Leone and Guinea are finally getting close to zero. However, the outbreak is not over until it's over at the regional level." - Doctors without Borders, May 6 update

May 5, 2015  Africa/Global: Renewables Gaining Ground
    "A key feature of 2014 was the continuing spread of renewable energy to new markets. Investment in developing countries, at $131.3 billion, was up 36% on the previous year and came the closest ever to overhauling the total for developed economies, at $138.9 billion, up just 3% on the year. Indonesia, Chile, Mexico, Kenya, South Africa and Turkey were all in the billion-dollar-plus club in 2014 in terms of investment in renewables." - UNEP / Bloomberg New Energy Finance

More on: politics&human rights|peace&security|health|economy|ict

AfricaFocus Archive: by date | by place | by topic

April 27, 2015  
    Burundi: On the Brink?
April 22, 2015  
    South Africa: Saying No to Xenophobia
April 14, 2015  
    Europe/Africa: Deaths at Sea
April 8, 2015  
    Garissa: Not Just Numbers
March 30, 2015  
    South Africa: Energy Futures Contested
March 23, 2015  
    Africa/Global: Swiss Connections
March 17, 2015  
    Africa: Higher Education Must Be Higher Priority
March 10, 2015  
    Africa/Global: Falling Short on Climate Finance
March 3, 2015  
    East Africa: Water, Wind, and Lake Turkana
February 24, 2015  
    USA/Somalia: Rising Threat to Remittances
February 18, 2015  
    Africa: Privatizing Land and Seeds
February 11, 2015  
    Africa/Global: Archbishop Tutu on Fossil-Fuel Divestment
February 5, 2015  
    Africa/Global: Stopping Capital Losses
January 26, 2015  
    Burkina Faso: Hopes for New Beginnings
January 21, 2015  
    Africa/Global: Ebola Lessons & Questions
January 13, 2015  
    Nigeria: Elections/Security Disconnect

For more frequent updates, visit the AfricaFocus FaceBook page
Africa News
May 27, 2015
AllAfrica | Conflict, Peace and Security
South Africa: Banned in Ethiopia, Now Forced to Leave South Africa
South Sudan: A Man-Made Catastrophe?
Central African Republic: Interim President Drums Up Fund for Elections
Select a Country or Region What is this?

More Country News
Algeria | Angola | Benin | Botswana
Burkina Faso | Burundi | Cameroon
Cape Verde | Central Afr. Rep.
Chad | Comoros | Congo (Brazzaville)
Congo (Kinshasa) | Côte d'Ivoire
Djibouti | Egypt | Equatorial Guinea
Eritrea | Ethiopia | Gabon | Gambia
Ghana | Guinea | Guinea-Bissau
Kenya | Lesotho | Liberia | Libya
Madagascar | Malawi | Mali | Mauritania
Mauritius | Morocco | Mozambique
Namibia | Niger | Nigeria | Rwanda
São Tomé | Senegal | Seychelles
Sierra Leone | Somalia | South Africa
Sudan | Swaziland | Tanzania | Togo
Tunisia | Uganda | Western Sahara
Zambia | Zimbabwe


 

For more books visit
AfricaFocus Bookshop

Exchange link www.africaworldpressbooks.com
Books on Africa and the Diaspora

Exchange links

www.africafiles.org
News with an African perspective
allafrica.com
Premier Portal for Africa News
www.concernedafricascholars.org
Political activism and research
www.africaworldpressbooks.com
Books on Africa and the Diaspora
www.columbia.edu
Virtual library for Africa
www.kabissa.org
Space for change in Africa
www.opendemocracy.net
Debate on democracy
www.pambazuka.org
Weekly Forum for Social Justice
www-sul.stanford.edu
Internet resources on Africa
Africa.com:
News, Finance, Travel. Culture