By Peter Wiezel and Otsile Malebaco Illicit Financial Flows (IFFs) pose a challenge for Africa and specifically for Malawi, undermining efforts to achieve sustainable development. These flows, which are estimated to exceed $90 billion annually from Africa, are primarily driven by tax evasion, trade mis-invoicing, money laundering, and corruption. They drain crucial resources from the […]
By Otsile Malebaco The global climate crisis has created a need for a just transition to a low-carbon economy. At the forefront of this shift are African countries, many of which contribute minimally to global emissions but are disproportionately affected by climate change. As Africa grapples with its challenges posed by climate change, the role […]
By Otsile Malebaco Exchange of Information (EoI) for tax purposes plays a critical role in global efforts to tackle tax avoidance and tax evasion that are part of the commercial Illicit Financial Flows (IFFs). It also considered to contribute to the fight against money laundering and other types of IFFs. Indeed, when national tax authorities […]
By Sonja Harnau and Otsile Malebaco Illicit Financial Flows (IFFs), Money Laundering and Corruption hinder the achievement of the Sustainable Development Goals(SDGs) and African development by draining foreign exchange, reducing domestic resources, stifling trade, destabilizing macroeconomic conditions and worsening poverty and inequality. Effective anti-money laundering (AML) systems are key to prevent IFFs from circulating through […]
By Juvenal Habiyambere African Supreme Audit Institutions (SAIs) are currently assessing the performance of their countries’ legislative, regulatory, and institutional frameworks for tax revenue mobilization for their robustness and capacity to deal with IFFs in a coordinated audit organized by the African Organization of the Supreme Audit Institutions (AFROSAI). The review reveals that countries are […]
By Otsile Malebaco Illicit Financial Flows (IFFs) constitute a significant barrier to sustainable development and the implementation of the SDGs. IFFs refer to the movement of money across borders that is illegal in its source (e.g. corruption, smuggling), its transfer (e.g. tax evasion), or its use (e.g. terrorist financing). They also include flows that are […]
By Lawrence Gqesha The International Monetary Fund (IMF) Africa Regional Technical Assistance Centers (AFRITACs) play a crucial role in building public sector capacity across Africa, with programmes covering macroeconomic stabilization, public financial management (PFM), taxation, financial markets, public statistics and banking supervision, AFRITACs help equip public officials with the skills necessary to manage and sustain […]
Every two years, The African Union Commission (AUC), Department for Economic Development, Trade, Tourism, Industry, and Minerals (ETTIM) organizes the Congress of African Economists (CAE). The CAE of the AUC is a platform for African economists to share research analysis on topics pertinent to Africa’s economic development. The 6th edition was hosted in Lusaka, Zambia […]
By Juvenal Habiyambere The issues of Environment and sustainability have become topical and constantly bringing discussions around the globe. Selecting “Auditing climate change impacts, mitigation, adaptation and resilience” as the theme for the 11th AFROSAI-WGEA annual meeting proves how important it is for the WGEA to provide SAIs with basic knowledge underpinning the phenomenon and […]
Illicit Financial Flows (IFFs) pose a huge challenge on economic and social development as well as political security on the continent, particularly in resource rich countries and in fragile and conflict affected states. Following the publication of the High-level Panel report on IFFs, 2015 that brought to light the outflow of illicit funds estimated to […]
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