How much has Africa been held back by illicit financial outflows?
Africa lost $836bn between 2000 and 2015 in what’s being termed ‘illicit capital flight’.
A financial haemorrhage – that is what the United Nations says is happening to Africa.
A new report from the UN Conference on Trade and Development says the continent would be debt free if money had not left illegally.
Much of the loss is through corruption, tax evasion and mis-invoicing of exports such as gold.
The UN says the problem is robbing the continent and its people of their future.
But what can be done to stop these practices?
Presenter: Hashem Ahelbarra
Guests:
Junior Davis – lead author of the UN report, from the United Nations Conference on Trade and Development
Sanusha Naidu – senior research fellow at the Institute for Global Dialogue, a South Africa-based think-tank
Edwin Ikhuoria – Africa executive director at ONE, a global movement campaigning to end extreme poverty