Home Business Africa loses $80b to illicit Financial Outflows Annually – Mbeki

Africa loses $80b to illicit Financial Outflows Annually – Mbeki

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The African continent loses about $80 billion to illicit financial outflows annually, former President of South Africa, Mr. Thabo Mbeki has said.

Former South Afric President, Thabo-Mbeki

Thabo Mbeki He spoke at the high-level African Union Panel on Illicit funds, in Abuja , this morning. He stressed the need for global collaboration against illicit capital outflows from Africa with the attendant negative effects on the development of the continent.

Minister of Finance, Hajiya Zainab Ahmed in a message said global partnership against illicit fi annual flows should lead to ease of repatriation of such funds.

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