Africa losing billions to illicit cash flows - UN report  | Africanews

Africa loses nearly $89bn a year in illicit financial flows such as tax evasion, a United Nations study has showed.

The figure is higher than what the continent receives in Official development assistance.

A report released by the United Nations Conference on Trade and Development on Monday calls Africa a ‘net creditor to the world’.

The export of commodities such as gold, diamond and platinum is responsible for almost half of the total figure lost every year. Companies under declare the value of exports, cheating on payments of taxes…

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