News and Ideas (16)
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Illicit financial flows (IFFs) are a large and growing problem for the African continent, with upwards of $70 billion in IFFs leaving the continent annually.1 African governments, intergovernmental organizations, industry, and civil society have come to understand the severity of the problem over the past few years.
The following list of actions are meant to address some of the first steps in addressing IFFs. These actions are foundational, involving measures that can either be undertaken more quickly and easily in some countries where some of the processes and commitments may already be underway or measures that lay the groundwork for later reforms. The result is an Accelerated IFF Agenda that governments can use as a place to begin their work to tackle IFFs in their own countries, leading to greater domestic resource mobilization and growth, resources which will be critical in making progress on the Sustainable Development Goals of the 2030 Agenda for Sustainable Development, and the African Union’s Agenda 2063, the Addis Tax Initiative, and the Africa Mining Vision.
Group Highlights 14 Steps African Leaders can take to Energize Fight against Illicit Flows following Addis Ababa Action Agenda, SDGs, and ECA High Level Panel
As national leaders meet at the African Union Summit in Addis Ababa this week, a group of civil society experts has issued a set of recommendations to address illicit financial flows (IFFs), an issue of critical importance to regional development. Titled Accelerating the IFF Agenda for African Countries (the Accelerated IFF Agenda), the purpose of the document is to highlight for African leaders fourteen steps that can be taken to jumpstart efforts to address IFFs. Among the recommendations are suggestions to establish a multi-agency approach to fight IFFs, to collect information to identify corporate ownership, and certain tax-related measures.
Thomson Reuters Foundation, in partnership with TrustAfrica, The African Centre for Media Excellence, The Institute for the Advancement of Journalism and The African Centre for Training Journalists and Communicators, is looking for investigative or financial/business journalists based anywhere in Africa to take part in a long-term scheme that will help them produce stories and investigations on the abuse of tax laws and illicit financial flows. The scheme involves intensive workshops, ongoing advice from experienced investigative journalists, and access to expertise and story leads.
The deadline is 11th January 2016.