African countries lose billions of dollars a year due to illicit financial flows. Léonce Ndikumana looks at what can be done to combat capital flight through tax avoidance.
The recent inclusion of the African Union in the G20 acknowledges a fact that traditional geopolitics has been reluctant to accept: Africa has emerged as a potent force propelling global transformation.
African countries are dealing with multiple crises at once, from terrorism to coups. Six members are currently suspended from the African Union due to institutional failures. The shadow of genocide is back in Darfur. The continent shoulders a disproportionate share of the effects of multiple recurrent and cumulative shocks – climate change related shocks, health pandemics such as Covid-19, wars in Ukraine and in the Middle East – with limited financial and technical coping capacity.
According to pollster Afrobarometer, the winds of growing discontent with democracy are blowing…