The African Civil Society Circle, a group of nine civil society organizations and think tanks from Southern Africa, has disclosed that Africa lost a staggering total of US$528.9 billion in a decade, from 2002-2012, to financial leakages. A report by the group available to Public Agenda further reveals that the amount in issues far outstrips official development assistance which stood at US$348.2 billion, and US$284 billion in net inward foreign direct investment. Illicit financial flows refer to money that is illegally earned, illegally transferred or illegally utilized.
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