Securing Sustainable Solutions to the African Debt Crises

Mobile menu

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.

CLICK FOR THE PRESS RELEASE

The Twitter Handle for the campaign is @Stop_AfricaIFFs

You may also want to read the following: Just click n the titles to DOWNLOAD

ACSC 2015 Illicit Financial Flows Paper, IFFs and Official Development Assistance, Taxation as a DRM Tool for Financing Development in Sub-Saharan-Africa,

Increasing  Illicit  Financial  Flows  In  The  Context  Of  Declining Official Development Assistance (ODA),

Africa Rising. Inequalities and the Essential Role of Fair Taxation 2014 Report, Illicit Financial Flows from Africa- Signs of a Poor Integration into the Global Economy-EXCERPT - ECDPM

High Level Panel report of Illicit Financial Flows from Africa

For media enquiries contact:

Information and Communications Officer
African Forum and Network on Debt and Development (AFRODAD)
31 Atkinson Drive, Hillside
PO Box CY1517, Causeway,
Harare, Zimbabwe
Telephone +263 4 778531/6 or 2912751-4
Telefax +263 4 747878
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.