Date
Legislators from West and Central Africa will gather in Kinshasa, Democratic Republic of Congo, for the African Parliamentary Network on Illicit Financial Flows and Taxation (APNIFFT) Regional Meeting from 15 to 16 November 2024.
The meeting, organised by APNIFFT and TJNA, in collaboration with Addis Tax Initiative (ATI), Conference Episcopale Nationale du Congo (CENCO), and the Stop the Bleeding Campaign, will seek to examine the role of parliamentarians in effectively addressing IFFs, debt and advancing fair taxation policies in the region.
The meeting theme is "Strengthening Parliamentarians' Capacity to Combat Illicit Financial Flows and Promote Better Economic Governance in Africa. It will bring together Parliamentarians from APNIFFT caucuses across West and Central Africa and the APNIFFT Steering Council.
It will also explore the impact of public debt on economic development and the role of parliamentarians in ensuring responsible borrowing and lending practices.
Africa loses an estimated $88.6 billion annually to IFFs, posing a severe threat to economic development and the achievement of the Sustainable Development Goals (SDGs). These outflows, driven by tax avoidance, abusive transfer pricing, and inadequate oversight, worsen inequalities, erode public trust, and limit resources for domestic development. As stewards of public interest, parliamentarians are key to advocating and implementing policies to curb these outflows.
Further, given the increasing burden of public debt across African countries, the meeting will provide the parliamentarians with a platform to examine their role in debt management and public finance accountability in the region. While frameworks such as the African Borrowing Charter offer guidance for responsible debt management, greater legislative oversight and transparency are essential to ensure effective implementation.
For further information about APNIFFT, please contact Francis Kairu at fkairu[@]taxjusticeafrica.net