Africa: Resource Rich, People Impoverished
By exploiting weaknesses in investment contracts and loopholes in valuation, pricing and taxation regimes, corporations are able to use all sorts of devices to minimize their tax exposure and illicitly move capital out of the region to preferred "tax haven" jurisdictions, writes Briggs Bomba of TrustAfrica.
allAfrica, 12 August 2014
Briggs Bomba calls for domestic resources to be mobilized to bring about inclusive development in Africa, in particular by stopping the illicit flow of money out of the continent. Read more »
Daily Trust, 5 August 2014
Illicit financial flows from Africa cost the continent roughly $555.6bn (N88.73trillion) annually over the past decade, Global Financial Integrity (GFI) has said. Read more »
Observer, 7 August 2014
As a number of African leaders flew out of Washington this week with a $37bn investment pledge from American companies, a group of civil society organizations held closed-door… Read more »
A man holds a piece of gold mined and processed in Zamfara State.