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Africa: The billions that got away

Read the message from the Executive Director 

Africa loses approximately US$50 billion annually through Illicit Financial Flows (IFFs). The AU/ECA’s High Level Panel on Illicit Financial Flows report and other studies argue that Africa lost over US$1 trillion through IFFs in the last 50 years - an amount similar to Official Development Assistance in the same period. Many, including ourselves at TrustAfrica, have always been cautious about the over dramatised narrative of “Africa Rising” especially as it mostly uses Gross Domestic Product (GDP) as a measure of growth. Other Human Development indicators such as Gross National Income (GNI), access to affordable health care, education, and decent jobs are rarely considered in the ongoing optimism surrounding Africa.

Last modified on Tuesday, 19 April 2016 12:39

Summary

TrustAfrica, in partnership with Open Society Initiative of Southern Africa (OSISA), is currently accepting proposals under the auspices of the “Assessing the extent and impact of illicit financial flows in key economic sectors in Southern Africa” project. The project seeks to address the problem of substantial knowledge gaps on illicit financial flows in Southern Africa. It specifically covers the lack of in-depth sectorial research, data and analysis on the patterns, dynamics, actors, channels, magnitude, and development impacts of illicit financial flows in the sub-region. The ultimate goal of the project is to expand the data, knowledge and analysis available to advocates and policymakers, and thereby prepare the ground for synergy-based communities of practice that can provide effective responses to curb illicit financial flows from Southern Africa. The initiative also seeks to contribute to strengthening the capacity of researchers and policy advocates. The project will also contribute to sharpening the methodologies in the study of illicit financial flows in Southern Africa.

The purpose of this Call for Proposal (CFP) is to solicit proposals from various organizations, individuals and/or consortiums to undertake in-depth research studies on how resources are being illicitly transferred in the following sectors:

1)    Agriculture

2)    Mining

3)    Wildlife and Tourism

Article from Inside Philanthropy

There are a lot of problems that ail the African continent. Extreme poverty, conflict, water and sanitation issues, and food insecurity are all concerns that receive a good deal of attention from funders and NGOs. Corruption, too, has been a major focus of grantmaking that we've written about here. 

But one niche in the corruption field that we haven't talked about much is illicit financial flows. The Ford Foundation is among those funders that care about Africa’s dirty money problem, and it recently made a $3 million grant to back TrustAfrica’s advocacy efforts in this area. 

By Sue-Lynn Moses

Last modified on Tuesday, 28 October 2014 11:51
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