Africa: Illegal money transfers hurting Africa’s growth

Experts say that the increasing trends of illicit financial flows are posing a great threat to Africa’s fragile growth as they pump back more dollars to developed countries than those sent to poor African states. Alezar Dessie, a consultant with the United Nations Economic Commission for Africa, notes that out of every dollar channelled to poor countries, as much as ten dollars may have left going back to rich countries, a back flow that leaves Africa begging.