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Illicit Financial Flows Draining Africa’s Future, Warns Minister Ramakgopa

Africa is bleeding billions each year due to illicit financial flows, and it’s costing the continent its future. That was the urgent message from Minister in the Presidency for Planning, Monitoring and Evaluation, Maropene Ramakgopa, as she addressed delegates at the G20 Development Working Group meeting in Durban this week.
Speaking ahead of the July ministerial session in Kruger National Park, Ramakgopa didn’t mince words. She stressed that the continent is losing close to R88.6 billion annually—money that could otherwise fund hospitals, schools, roads, and clean water.
“These illegal outflows are crippling Africa’s ability to develop and take care of its people. We can’t keep losing vital resources that should be building our future,” she said.
Africa Needs Its Money to Stay Home
Illicit financial flows—unrecorded, illegal money leaving the continent—often involve tax evasion, corrupt dealings, and criminal networks. According to Ramakgopa, cracking down on these leaks is Africa’s first and most urgent development priority.
She called on both local governments and international partners to close the loopholes that allow billions to vanish across borders, pointing out that resource mobilisation is essential if Africa hopes to grow independently.
“Developing nations must be supported to build systems that keep resources circulating within their borders,” she emphasized.
Social Safety Nets Must Be Strengthened
But money isn’t Africa’s only challenge. Ramakgopa said another priority is the strengthening of social protection systems, especially for the poor, women, and vulnerable communities.
“Social protection isn’t just about handouts—it’s about dignity, resilience, and building opportunity,” she said, noting South Africa’s own high inequality levels. “We need to uplift people to close the wealth gap.”
Global Cooperation Needed on Climate and Health
The minister also used the platform to push for global cooperation on climate change, pandemic preparedness, and digital inclusion. She reminded delegates of the lessons learned during COVID-19 and stressed the need for fairer access to clean technology and healthcare infrastructure.
“The global public goods—from climate stability to digital access—must be managed inclusively. It’s time to create a more just system,” Ramakgopa added.
As the G20 Development Working Group prepares final texts ahead of July’s high-level meeting, South Africa has made its priorities clear: cut the financial bleeding, protect the vulnerable, and build an inclusive digital and climate-resilient future.
{Source: SABC News}
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