A Decade Since the High-Level Panel Report on Illicit Financial Flows

By Isaac OGANGA

Tax Justice Network Africa (TJNA) will host members of the High-Level Panel on illicit financial flows in Africa for an exclusive Fireside Chat on Monday, February 24, 2025. This significant discussion will commemorate 10 years since the release of the High-Level Panel report.

The session, moderated by TJNA Executive Director Chenai Mukumba, will reflect on past achievements, assess the lasting impact of the panel’s recommendations, explore Africa’s ongoing battle against illicit financial flows (IFFs), and discuss how to shape a fairer global financial system for the future.

Ten years ago, the African Union’s High-Level Panel (HLP) on illicit financial flows, chaired by former South African President Thabo Mbeki, laid the foundation for a continental movement against the haemorrhaging of Africa’s wealth through illicit financial flows (IFFs).

A decade later, as the world grapples with deepening inequalities and economic shocks, it is time to reflect on the progress made, the lessons learned, and the road ahead.

The HLP report not only exposed the role of multinational corporations in perpetuating illicit financial outflows but also underscored the need for concerted efforts to curb these flows and their damaging effects on the continent, including recommending that the UN play a more central role in tackling this issue of IFFs.