Africa: Tackling Illicit Financial Flows to Secure Africa's Future, Curb Conflict

Annual US$88.6 billion illicit capital flight loss needs to be seen as missed development opportunities.

Illicit Financial Flows (IFFs) exact a toll on development for the rich and poor alike, but in Africa the poorest populations are paying the highest price. According to the UN Conference on Trade and Development (UNCTAD) in a report published in September 2020, Africa loses about US$88.6 billion in illicit capital flight every year - equivalent to 3.7 per cent of the continent's gross domestic product.

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