The article is based on a report where it is recommended that Malawi needs to reform or it will continue to lose more revenue due to IFFs.Malawi has lost USD 4,691 million between 2001 and 2010 due to illicit financial flows where Companies and individuals are able to avoid paying taxes by shifting large sums of money from one jurisdiction to another. Malawi faces a challenge in taming illicit financial flows due to the increasing number of mining companies granted rights to explore and extract resources within the nation’s borders. Currently, Malawi ranks 75th out of 143 countries for largest average illicit financial flow estimates for 2001 to 2010. Currently, the Malawi Government is increasingly under pressure from various stakeholders to renegotiate the contract for uranium mining investment at Kayelekera.
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