The African Tax Administration Forum (ATAF) has called on African Countries to invest in technology as one way of curbing illicit Capital flows from the continent.

“Electronic systems play a huge role in curbing corruption and by extension illicit flows,” ATAF Executive Secretary Logan Wort told Journalists during a recent media briefing in Pretoria, South Africa.

However, Wort cautioned that the systems cannot entirely stop illicit flows arguing that when people intend to break the law they can do it.

“Illicit is by very nature illicit and it will always be there,” said.

Illicit financial flows refer to a form of illegal capital flight and occur when money is illegally earned, transferred, or spent. This money is intended to disappear from any record in the country of origin, and earnings on the stock of illicit financial flows outside of a country generally do not return to the country of origin.

A 2012 Global Finance Integrity study report indicates that Africa as a whole lost about 56 percent of its total 2008 GDP through illicit flows with Southern Africa losing roughly US$1,334 per person.

In April this year, African Countries adopted resolution 236 on Illicit Capital Flight during the 53rd Ordinary Session of African Commission on Human and People's Rights, held from 9 -23 April, in the Gambia.

The resolution calls on nations to put in place rules and regulations to curb capital flight from the continent.

Wort said apart from investments in technology, African government and agencies needed to collaborate and work on the criminality aspect of the malpractice.

“Africa is vulnerable to Illicit Capital flows because over the last decade it has enjoyed good economic growth hence it has become favourable for investors,” he said.

However, ATAF says for such systems to work there is need for the establishment of rules and regulations.