Africa losing US$88 billion in illicit financial flows – Speaker Among
Speaker Anita calls for a fight against illegal financial flows, the estimated $88 billion in losses in Africa every year.
The speaker called on Monday, March 17, 2025 when presiding over the African Public Accounts Commission (AFROPAC) meeting and the fifth annual general meeting.
“Our citizens have been feeling the impact of this loss through the retained medical institutions and services, schools, roads, rural electrification and the development of natural resources,” said the report.
The meeting will be held on Friday, March 21, 2025 to “strengthen legislative action to combat illegal financial flows and promote public financial resilience”.
She praised the Public Accounts Commission (PAC) for its contribution to addressing economic and financial mismanagement, but called for transparency, good governance and strong institutions, saying these would promote a sense of responsibility in Africa.
The spokesman added that the Association of Speakers of the African Parliament would advocate for increased funding to Afropac.
“We will accept it and we will support Afropac’s growth so that we can save our money as Africa,” she said.
The president of Afropac is also the president of the PAC (Central Government) of the Uganda Parliament. Medard Sseggona stressed the importance of building cooperation in the fight against illegal financial flows.
He praised the support of the African Union, the South African Development Community PAC Organization (Sa 10COPAC), the West African Public Accounts Commission and the East African Public Accounts Commission Association.
“By collaborating, we can build a unified front with those who aim to illegally consume the common wealth and resources of Africa. We would like to thank our upcoming partners, namely, the Global Fund that will be accepted with Afropac,” he said.
He said Afropac is committed to promoting regional and continental cooperation to develop unified policies and take joint action.
He also urged the African Parliament to take bold action on illegal financial flows and called on the government to increase funds to Afropac.
“By the time we conclude this meeting, we should take actionable resolutions to strengthen and enhance public financial oversight and provide our country with the tools needed to effectively combat illegal financial flows,” Sseggona said.
Secretary General Afropac, Hon. Mark Botomani said ensuring government implementation of PAC recommendations remains a challenge in promoting accountability in Africa.
Botomani added: “The fight against illegal financial flows includes ensuring public resources are available for sustainable development, economic growth and citizen well-being.”
Founded in 2013, Afropac is a network of pan-African parliamentary oversight committees aimed at promoting good governance, accountability and transparency in public resource management and government operations on the continent.
Issued by Apo Group on behalf of the Parliament of the Republic of Uganda.
