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NGOs to launch "Stop the Bleeding" campaign aimed at stemming companies' illicit financial flows from Africa

'Launch of the "Stop the bleeding" Africa IFF campaign', 22 Jun 2015:…According to the African Union/Economic Commission for Africa High Level Panel on Illicit Financial Flows from Africa report the continent lost about one trillion dollars (US$1 trillion) between 1980 and 2008…The multiplier effects of these losses are…loss of jobs, income, decent education, health facilities and other basic infrastructure critical to structurally transform…economy[ies]…[in] Africa and the socio-economic conditions of Africans. According to the High Level Panel’s report the major perpetrators of IFFs from Africa are multinational companies, especially those operating in Africa’s extractive sector, mostly in oil, gas and mining...It is against this backdrop that the Interim Working Group (IWG) of the African IFF Campaign Platform comprising six Pan-African…will launch a unified African campaign platform on Illicit Financial Flows. Dubbed “STOP THE BLEEDING” the launch will take place on June 25, 2015 in Nairobi, Kenya. The main goal of the campaign is to stop IFFs from Africa… 


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