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Africa Loses US$90 Billion Through Proceed Of Crime, Tax Evasion And Corruption, A Figure (1.5) Times The Foreign Direct Investment Received Annually
WINDHOEK/KIGALI. — Mojanku Gumbi, advisor to former South African president Thabo Mbeki, said about $90 billion may be illegally taken out of Africa every year. Gumbi argued the value represented almost 1.5 times of what the continent received in foreign direct investment every year. The capital flight is in forms of the proceeds of crime, tax evasion and corruption, said Gumbi, who revealed this ahead of the African, Caribbean and Pacific countries and European Union…
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