Africa: Blocking the Extractive Sector Leakages

press release

One of the major obstacles to the development of the African continent is the massive loss of revenues from the extractive industries through corruption, tax evasion and other forms of Illicit Financial Flows (IIFs).

And according to the World Bank's Stolen Asset Recovery Initiative, cross border flow of proceeds from corruption, tax evasion and criminal activities ranges between US$1 trillion and US$1.6 trillion annually.

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