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Originally published by Capital Business
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business
March 26, 2026
3h ago

African states urged to tighten controls to curb Sh11.7trn illicit flows

African states urged to tighten controls to curb Sh11.7trn illicit flows

The call follows new reports by the Coalition for Dialogue on Africa, which serves as the Secretariat of the African Union High-Level Panel on Illicit Financial Flows, based on assessments across 16 African countries. Kenya breaking news | Kenya news today |..

✨ Key Highlights

African governments are urged to enhance financial oversight and transparency to combat a staggering Sh11.7 trillion ($90 billion) annually in illicit financial flows (IFFs) draining the continent.

  • Illicit flows have surged to $90 billion annually, up from approximately Sh6.5 trillion a decade ago.
  • Key calls come from the Coalition for Dialogue on Africa (CoDA), serving as the African Union High-Level Panel on Illicit Financial Flows.
  • Losses primarily stem from commercial activities like trade mispricing and tax avoidance, impacting development and undermining state institutions.

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