The article highlights IFFs issues as a predecessor to the heads of state meeting in Malabo in July for the African Union (AU) summit. Trade mispricing, money laundering are the major issues at stake basing on the findings of the United Nations report coordinated by South Africa`s Thabo Mbeki. Laundering and tax evasion are stripping more than $50bn a year from African state revenue. Multibillion-dollar losses that state treasuries are suffering across Africa due to what are euphemistically called `illicit financial flows.` A detailed research dossier on how these losses are engineered and the damage they do to Africa`s development chances, along with some hard-hitting recommendations,was anticipated. The article attempts to answer dirty money questions such as, what are illicit financial flows?why is it important in Africa? ,what can be done to fix it? The article also looks into undervalued exports and narco-governments
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