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Africa

Africa: Experts Rally Africa to Unite Against Illicit Financial Flows

eriinfo.com1 week ago03 mins

EXPERTS have called for stronger collaboration among African states, regulatory bodies, and financial technology (fintech) companies to curb the growing menace of Illicit Financial Flows (IFFs) draining the continent’s resources. Speaking at a panel discussion on “Guaranteeing Africa’s Financial Independence: The Role of Fintechs in Combating Illicit Financial Flows” during the 2025 West Africa Media…

Africa: How Illegal Financial Flows Stifle Africa’s Growth

eriinfo.com2 months ago08 mins

The African Union has warned the continent loses billions in illicit financial flows each year. Analysts say stopping tax evasion and corruption is just the first step to keeping African wealth in the continent. An estimated US$88 billion (€76 billion) leaves Africa annually through tax evasion, money laundering, and corruption, the African Union (AU) says. In 2015, that figure was…