The African Union has warned that the continent loses billions of dollars each year due to illicit financial flows, which include tax evasion, corruption, and other illegal activities. Analysts say that addressing these issues is crucial for Africa to retain its wealth and achieve sustainable economic growth. The article explores the impact of these illegal financial flows on African countries and the challenges they face in stemming the tide. Tackling tax evasion and corruption is seen as a necessary first step, but it will require a concerted effort from both African governments and the international community to implement effective policies and enforcement mechanisms. Ultimately, keeping African wealth within the continent is essential for the region to realize its full economic potential.
