Between the 24th and the 26th of May the Good Financial Governance (GFC) conference on Illicit Financial Flows (IFF) was held in Yaoundé, Cameroon. The event saw the attendance of 250 delegates coming from 42 countries and representing several organizations, including the African Union, Global Financial Integrity, OECD, Tax Justice Network, NEPAD, Action Aid, and ARINSA.
The conference was organized by the partners of GFG in Africa network, namely AFROPAC, AFROSAI, ATAF, CABRI, and GIZ, with the support of the European Union and the German Government. It was held under the theme "Tackling Illicit financial flows: an African approach to a global phenomenon", and offered the delegates an opportunity to debate various topics such as:
- The social and economic impacts of illicit financial flows in African countries;
- The existing approaches and tools to combat IFFs;
- The importance of a communication strategy in the fight against IFFs.
Alongside those topics, the delegates specifically addressed the three drivers of IFFs, namely commercial, corruption and criminal activities to make an assessment of their current efforts in tackling the IFFs, by identifying the gaps and good practices and come up with specific measures that could improve the fight against IFFs.
The conference resulted in four African Good Financial Governance (GFG) networks, as organisers of the conference, and several delegates signing the GFG Declaration.
The below video explains the work of the EU-supported Financial Governance Programme: