Illicit financial flows: The hidden crisis in Tanzania’s development
MCL Editor, Ephrahim Bahemu, discuses the effects of illicit financial flows on Tanzania’s development in a panel discussion last weekend in Dar es Salaam. With him are MCL journalists Elias Msuya (centre), Josephine Christopher (second right) and discussants from other organisations. PHOTO | THE CITIZEN CORRESPONDENT
Dar es Salaam. In a world where Africa’s development is often overshadowed by dependency on foreign aid and loans, a troubling trend is emerging: illicit financial flows (IFFs).
Defined as the illegal movement of funds or resources out of Africa, IFFs are not just a financial concern; they are a significant barrier to achieving the continent’s Sustainable Development Goals (SDGs).
