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flag Africa loses $90B yearly to tax evasion, but global tax deals and regional cooperation offer hope.

flag Illicit financial flows cost Africa $90 billion annually, about 4% of its GDP, primarily due to corporate tax evasion and profit shifting by multinationals, according to UNCTAD and other agencies. flag At the 2025 West Africa’s Media Excellence Conference, experts stressed the need for stronger regional cooperation, improved regulation, and use of fintech to trace illicit transactions, while warning that digital tools also pose risks if unregulated. flag Global consensus on a 15% minimum tax and corporate transparency was reached at the G20, but lasting progress depends on African nations strengthening institutions, boosting domestic revenue, and advancing the African Continental Free Trade Area.

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