Africa: Multinationals Account for 60 Percent of Illicit Financial Outflows in Africa - Mbeki

Commercial companies operating in Africa account for about 60 per cent of the illicit financial outflows which drain the continent's domestic reserves and depriving it of crucial investment funds.

This was disclosed by the immediate past President of South Africa, Thambo Mbeki, yesterday at a high-level event, 'Tackling Illicit Financial Flows and Inequality in Africa,' on the sidelines of the World Economic Forum (WEF) on Africa going on in Abuja.

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