The Interim Working Group (IWG) of the African IFF Campaign Platform comprising six Pan-African organisations namely the African Forum and Network on Debt and Development (AFRODAD), Tax Justice Network-Africa (TJN-A), Third World Network-Africa (TWN-Af),the African Women’s Development and Communication Network (FEMNET), the African Regional Organisation of the International Trade Union Confederation (ITUC-Africa) and Trust Africa supported and joined by the Global Alliance for Tax Justice (GATJ) are launching a uniﬁed African campaign platform on Illicit Financial Flows.
Dubbed “STOP THE BLEEDING” the launch is taking place today (June 25, 2015) in Nairobi, Kenya. The main goal of the campaign is to stop IFFs from Africa as well as to implement one Africa Campaign on IFFs that is led and driven by African Civil Society Organisations (CSOs) with support from other partners including international non-governmental organisations (INGOs).
According to the African Union/Economic Commission for Africa High Level Panel (HLP) on Illicit Financial Flows from Africa report, the continent lost about one trillion dollars (US$1 trillion) between 1980 and 2008. Other estimates are even higher. The Panel was chaired by President Thabo Mbeki of South Africa. As stated by the report, the major perpetrators of IFFs from Africa are multinational companies, especially those operating in Africa’s extractive sector, mostly in oil, gas and mining. These activities pose a major threat to sustainable development and security across the continent. The HLP report recommends 15 solutions African countries must implement to curtail IFFs from the continent.
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