Curbing illicit financial flows (IFFs) can help African countries mobilize capital to finance the achievement of the Sustainable Development Goals and other national priorities. IFFs contribute to US$88.6 billion of capital flight per year from Africa. Reducing these outflows can increase the stock of capital available for businesses to build productive capacity and create jobs.
Corruption is an insidious plague that has a wide range of corrosive effects on societies […] Corruption hurts the poor disproportionately by diverting funds intended for development, undermining a Government’s ability to provide basic services, feeding inequality and injustice and discouraging foreign aid and investment.
The United Nations Convention against Corruption (UNCAC) is the first legally binding international anti-corruption instrument. In its 8 Chapters and 71 Articles, the UNCAC obliges its States Parties to implement a wide and detailed range of anti-corruption measures affecting their laws, institutions and practices and declared the recovery of stolen assets enshrined in Chapter V as a fundamental principle of...