Africa’s illicit financial flows up to USD 148bln per annum - DireTube News

The latest progress report of the High- level Panel on Illicit Financial Flows from Africa has revealed that the annual average loss to the continent is between USD 50bln to USD148bln per annum. The report, also called the Mbeki report, announced its results Sunday morning in Addis Ababa, Ethiopia.Capital flows derived from proceeds of theft, bribery and other forms of corruption by government officials; proceeds of criminal activities including drug trading and proceeds of tax evasion are said to be the main forms of illicit financial flows in Africa.DireTube is the Largest online Media in Ethiopia Since 2008