This paper examines the effect of corruption control and political stability on illicit financial outflows in Sub-Saharan Africa. The regression estimates reveal that a unit increase in political stability and corruption control reduce illicit financial out flow due to misinvoicing in merchandise trade by an average of US$ 20.5 million and US$ 44.3 million respectively. The results also show that high trade rating, financial sector rating and exchange rates reduce illicit financial outflows while increase in foreign direct investment and inflation increase illicit financial outflow. The study therefore recommend that governments in Sub-Saharan Africa countries must ensure that institutions responsible for fighting corruption and enhancing stable governance are well empowered and given the needed resources to work effectively to reduce corruption to the barest minimum.
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