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Accra Hosts Conference on Combating Illicit Financial Flows in Africa

Accra, Key figures in Africa's tax sector have convened in Ghana's capital, Accra, for the 11th Pan-African Conference on Illicit Financial Flows and Taxation (PAC), focusing on enhancing domestic resource mobilization and addressing the challenge of i...

Accra, Key figures in Africa’s tax sector have convened in Ghana’s capital, Accra, for the 11th Pan-African Conference on Illicit Financial Flows and Taxation (PAC), focusing on enhancing domestic resource mobilization and addressing the challenge of illicit financial flows across the continent.

According to Ghana News Agency, During a news conference in Accra, representatives including Mr. Thulani Shongwe from the Africa Tax Administration Forum, Ms. Chenai Mukumba from Tax Justice Network Africa, Dr. Patrick Olomo Ndazana from the African Union Commission, and Madam Irene Ovonji-Odida, a member of the High-Level Panel on Illicit Financial Flows, emphasized the need for robust institutions to combat illicit financial flows. They highlighted the political commitment secured from various African leaders as a foundation for attracting global support for their initiatives. The conference, organized by Tax Justice Network Africa (TJNA) and The African Tax Administration Forum (ATAF), has gathered officials from Pan-African organizations, tax administrations, finance ministries, civil society, parliamentarians, and academia to develop a unified African stance on key global tax issues. The event aims to foster discussions that will shape policies to enhance Africa’s capacity to raise domestic resources effectively. It also serves as a forum for identifying actions and solutions for various stakeholders, including governments, civil society, and the private sector, and policymakers, crucial for mobilizing domestic resources within the continent.

The conference aligns with Africa’s broader development aspirations and the need for additional resources to align with the Sustainable Development Goals (SDGs) and Agenda 2063. Africa’s additional financial requirements for 2020-2022 were estimated at USD 432 billion, with an annual SDGs financing gap of around USD 190 billion. Addressing this gap involves developing regional value chains, facilitating equitable market access, and enhancing revenue mobilization through effective tax collection and combating illicit financial flows.

PAC 2023’s focus on building partnerships and collaborations is pivotal for African countries to lead international discussions on domestic resource mobilization and combating illicit financial flows. TJNA, a pan-African organization and member of the Global Alliance for Tax Justice, alongside ATAF, the premier African body on tax matters, are at the forefront of advocating for fair and accountable taxation systems to improve economic growth and mobilize domestic resources effectively.

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