Southern Africa’s favourable illicit natural resource trade environment highlighted in new AfDB report
Natural resource management in Southern Africa is faced with weak governance structure and poor institutional and legislation frameworks according to a new report published by the African Development Bank (AfDB). The Southern Africa Economic Outlook 2023 says that as a result of this, the region…
AfDB and CoDA launch US$5.9 million project to address financial crime, money laundering and tax avoidance
The African Development Bank (AfDB) and the Coalition for Dialogue on Africa (CoDA) have launched a three-year support project to improve regional coherent and coordinated responses to illicit financial flows (IFFs). The project aims to ensure that policies and practices are mobilised to address financial…
AfDB’s €1.2 million grant to help Africa’s revenue capture
The African Development Bank (AfDB) has allocated a €1.2 million (US$1.3 million) grant to provide training to help resource-rich countries improve their mining revenues. The support comes at a time when concerns are growing about revenue losses in resource-rich countries through trade-based money laundering (TBML)…
Momentum needed for the Partnership on Illicit Finance
Two years after it was formed, only seven African countries and the US have joined the Partnership on Illicit Finance (PIF). Established at the US-Africa Leaders’ Summit in July 2014, the partnership aims to bring together countries committed to tackling corruption and develop strategies to…
