Monday, June 22, 2026

illicit financial flows

June 6, 2025

Africa loses $40 billion to illicit financial flows in extractive sector yearly: ECA

Antonio Pedro, ECA’s deputy executive secretary, said the trend undermines development and deepens economic inequality on the continent.

Economic Commission for Africa
May 12, 2024

Nigeria, other African countries’ tax incentives contribute to $22 billion loss: AU

Currently, Africa loses around $89 billion annually to illicit financial flows, equating to 3.7% of its gross domestic product, while tax incentives contribute to a further $220 billion loss.

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