Africa – Call for international action to strengthen control mechanism against illicit money transfer.
The high demand for commodities and connected rise in prizes creates for African countries a unique window of opportunity to lay the foundations for sustainable development. Experience from the last decade of growth indicates that African countries may miss this chance because most of the profit is plundered by the new elites in cooperation with multinational companies and safe havens. Arnold Wehmhoerner, the FEPS Correspondent for Southern Africa, examines the situation and calls for international action to strengthen control mechanism against illicit money transfer.
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