Africa: Emerging trend towards establishing offshore tax havens

As several African governments examine the possibility of setting up their own 'offshore' financial centres, the trade name for tax havens, campaigners are calling for transparency and fair tax regimes. 'We need pan-African action,' says Alvin Mosioma, coordinator of the Tax Justice Network Africa, an organisation that advocates fair tax regimes to promote economic and social development. 'The African Union has established a special panel on illicit financial flows, in which Thabo Mbeki participates, and the African Tax Administrators Forum meeting held in 2008 was also a promising start, but Africans have been too silent too long on the issue of financial transparency.'