Africa told to fight illicit flow of cash

Kenya has petitioned African countries to help in the fight illicit flow of finances. The country commended the African Development Bank (AfDB) for launching an action plan that will deal with the flow of illegal cash.

Treasury Cabinet Secretary Henry Rotich said the initiative is good since it will prevent revenue leakages in African countries. Illicit Finance Flows are illegal cash or capital transactions from one country to another. "This is a big issue that has been affecting revenue collection in our countries. If we sort it out, we will get more resources to develop our nations," he said.

He said illicit finance is draining Africa's resources, leading to high dependency on donor aid.
"Coordination, corporation, exchanging information and increasing capacity to detect the flows is the best way to go forward, so as to deal with the challenge once and for all," Rotich said.