Right to Development and Illicit Financial Flows from Africa
Dynamics, Perspectives, and Prospects
Serges Djoyou Kamga editor Arnold Kwesiga editor Gerard Emmanuel Kamdem Kamga editor
Format:Hardback
Publisher:Bloomsbury Publishing PLC
Published:15th Feb '24
Currently unavailable, and unfortunately no date known when it will be back
Gerard Emmanuel Kamdem Kamga, Serges Djoyou Kamga, and Arnold Kwesiga explore a relatively new phenomenon, namely referred to as illicit financial flows, that aim to impoverish the African continent and prevent its economic development. There is a direct relationship between illicit financial flows and failed initiatives to realize the right to development on the continent. For instance, in 2016, Africa received $41 billion towards public development while $50 billion left the continent through illicit financial flows. The gap between recent economic achievements on the continent and its state of generalized underdevelopment coupled with rampant poverty, corruption, prolonged economic crisis, and political instabilities signals an issue with resource allocations. The systematic theft of resources by multinational corporations and criminal networks is a hard blow to the idea of people-driven development in line with the Pan African vision of “an integrated, prosperous and peaceful Africa” proclaimed by Agenda 2063. Right to Development and Illicit Financial Flows from Africa: Dynamics, Perspectives, and Prospects provides insights into the dynamics and perspectives on illicit financial flows and its dire impacts on the right to development and development initiatives across the continent.
The central theme of this book is that illicit financial flows prevent African countries from fulfilling the right to development. The book's 14 articles are written mostly by people with a background in law and human rights. This emphasis on the right to development is one reason why many of the articles reference United Nations and African Union (or its predecessors) treaties and charters, and specific articles within them. The definition of illicit financial flows and their cost to Africa are given repeatedly, along with their relationship to the right to development. Multinational corporations, financial institutions, and other actors outside Africa are seen as aiding and abetting the illicit financial flows; their cooperation is necessary for these flows to end. The authors give specific attention to events in Ethiopia, Nigeria, South Africa, and Uganda with regard to illicit financial flows; they also supply more general articles on the topic. [Illicit] financial flows is an important topic with a wider impact than their hurt to progress in African countries. Recommended. Advanced undergraduates through faculty. * Choice Reviews *
Covering almost all regions across the African continent, this book meticulously unravels the deleterious effects of Illicit Financial Flows in 'manufacturing underdevelopment' in Africa leading to siphoning of close to $90 billion per year that could have been better used to turn the tide on the elusive development agenda of Africa. This is indeed a timely offering in light of the recent launch of the African Continental Free Trade Area (AfCFTA). -- Moorosi Leshoele, University of the Free State
ISBN: 9781666932300
Dimensions: 237mm x 161mm x 25mm
Weight: 644g
338 pages