Following a request to work closely with AFRODAD made by African Legislative Assembly (EALA) during the AFRODAD’s regional dialogue that was held
in Botswana last March, AFRODAD was invited to hold a session on Illicit Financial Flows (IFFs) and the Sovereign debt crisis in the context of Africa in general zeroing on East Africa on Wednesday the 8th May 2019 during the 5th East African Legislative Assembly sitting. Dr. Fanwell Bokosi, Executive Director, and Mr. Tirivangani Mutazu, Senior Policy Analyst under the Debt Management portfolio, represented AFRODAD.
Key points of AFRODAD’s presentation mainly tackled causes of Africa’s debt crisis and trends, thereafter offering recommendations with a critical look at how reducing IFFs would play a significant role in closing Africa’s financing gap. While debt is a global issue; Africa’s past debt crises have been devastating, creating the need to cautiously monitor this recent debt build-up. This meeting in Tanzania was good platform for AFRODAD to offer sustainable solutions to serve Africa from the bondage of the looming debt crisis.
The East African Legislative Assembly is the Legislative Organ of the East African Community. Its Membership consists of a total of 62, of whom 54 are elected Members (9 from each Partner State) and eight ex-officio members (the Ministers responsible for EAC Affairs from the Partner States, the Secretary General of the Community and the Counsel to the Community). The Assembly which holds six Plenary Sessions in every financial year has a principle of rotation. The last sitting (4th Meeting) was held in the isles of Zanzibar on February 16th, 2019 to March 9th, 2019. More information on EALA is available here.