Africa losses around $50 billion every year in illicit finance flows.
The African Union Commission is holding discussions with the African Union Commission over the return of money illegally stashed abroad, Chairperson Ndosazana Dlamini-Zuma has said.
“We started discussions with the EU some years ago to have the money back. We find it morally and economically good for the banks to send us the money,” Dr Dlamini-Zuma said.
“We can use this money for the implementation of Agenda 2063 and advance women’s and children’s health,” she said at a press conference that followed the opening of the annual College-to College Meeting of AUC and EC.
Africa losses around $50 billion every year in illicit finance flows, an amount that is almost double the official development aid the continent gets, according to the 2015 UN report by a panel on illicit cash transfers, chaired by former Nigerian President Olusegun Obasanjo.
FIGHTING TERRORISM
“We also discussed areas of cooperation, ranging from tackling migration to fighting terrorism,” said Federica Mogherini, the Vice-President of the EC High Representative of the Union for Foreign Affairs and Security Policy.
“With the EU Trust Fund, we are financing projects in the Horn of Africa, the Sahel and Lake Chad regions,” she said.
The discussions were centred around priority areas of the 2014-2017 roadmap adopted at the Africa-EU Summit in Brussels, Belgium in 2014.
They include peace and security, human development, global and emerging issues and democracy.
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