The Global Economic Governance (GEG) Africa programme is a policy research and stakeholder engagement programme to strengthen the influence of pro-poor African coalitions at global economic governance fora.
Friday, 10 August 2018 15:59

Africa urged to act collectively to combat money laundering, tax evasion and bribery

Combatting bribery, money laundering and tax evasion should be a priority if Africa was to finance its transition to middle income status and increase prosperity, said Vera Songwe, the executive secretary of the UN Economic Commission for Africa.

The continent is believed to lose between $50-billion and $80-billion a year through illicit financial flows. Songwe called on governments to take action on several fronts. They should aggressively investigate and prosecute money launderers and companies that evade taxes.

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