Time for Africa to make stand against tax abuse

For African countries, the impact of changes in US administrations are not always self-evident.  However, as with other developing countries, there are prospects of Africa benefitting from renewed multilateralism, not only in climate and health issues such as responding to global pandemics, but also on the question of illicit financial flows through the reopened debate on fairer taxation of big business and the rich at the global level. This will require a shift from the instrumentalisation of foreign aid for securitisation purposes, a fundamental re-think of globalisation and development, and political leadership.

Domestic public resources are central to development as recognised by the Sustainable Development Goals (SDGs) and the Addis Ababa Action Agenda – resulting from an international conference held in the Ethiopian capital in 2015. However, like many resource-rich developing nations, Africa’s rich natural resource endowment, including minerals, does not equitably benefit the continent. Its wealth is exploited and externalised by multinationals assisted by local elites. Often, this is done under the worst conditions for domestic workers and local communities, with little regard for labour and social protection, women’s rights, environmental sustainability and communal land rights.