Illicit financial flows from Africa, in pictures
Now, from The Africa Report, a new article which revisits this theme, a picture of the haemorrage:
Click to enlarge. As The Africa Report notes:
"In the three decades from 1980 to 2009, African countries lost up to $1.4trn in illicit financial flows, known as capital flight.The Africa Report also carries a top story entitled Thirty Ideas Shaking Up Africa, with a heavy focus on technology. But it's not all about African tech. The first of the 30 ideas is . . . Tax Justice.
"It's a staggering figure," says AfDB chief economist Mthuli Ncube. "Around $30-40bn is leaving the continent each year."