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‘Africa Losing $150bn Annually To Illegal Financial Flows’

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AFRICANGLOBE - Africa is s losing about $150 billion annually due to illegal financial flows through corruption, financial embezzlement and tax incentives to conglomerates. Illicit financial flows refer to the movement of money out of the formal government channels. These are mainly in the form of corruption, tax evasion and illegal exploitation.

Financial Flows To African Countries To Hit $203.9 Billion In December

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AFRICANGLOBE - Financial flows to Nigeria and other African countries through external sources are projected to increase by 9.5 percent to a new record of $203.9 billion by end of 2013, compared with $186.3 billion in 2012.
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