Stop the Bleeding – Curbing Illicit Financial Flows | A Documentary Film from the ECA

Publisher:
ECA
Publication Date:
19 July 2016
Tags:
Capital Flows

Africa loses massive financial resources, about US$50 billion each year through illicit activities of multinational companies and rich individuals. These resources, if retained in the continent,could be invested in productive sectors of these economies to lift Africa's growing population from under-development and poverty.According to the African Union/Economic Commission for Africa High Level Panel on Illicit Financial Flows from Africa report,the continent lost about one trillion dollars (US$1 trillion) between 1980 and 2008. Other estimates are even higher. The 16-minute documentary features H.E Thabo Mbeki, Chairman High Level Panel on Illicit Financial Flows (IFF); Hon. Khanyisile Litchfield-Tshabala, Chairperson African Parliamentary Network on IFF and Tax (APNIFET); Emmanuel Nnadozie, Excecutive Secretary of the African Capacity Building Foundation (ACBF); Logna Wort, Excecutive Secretary - African Tax Administration Forum; Abdalla Hamdok, Deputy Excecutive Secretary and Chief Economist ECA; Raymond Baker, President Global Financial Integrity; Dr. Anthony Mothae Maruping, Commissioner for Economic Affairs AU; Prof. Edward Maloka, CEO Africa Peer Review Mechanism; Alvin Mosioma, Excecutive Director - Tax Justice Network Africa. 

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