African Union

The essay also emphasizes the importance of leveraging regional initiatives. These initiatives provide a complementary layer to global frameworks by fostering context-specific solutions, enhancing coordination among member states, and facilitating the exchange of best practices. For instance, regional bodies could play an essential role in mediating disputes between creditors and debtors and advocating for equitable treatment of African nations in multilateral debt restructuring forums. The Convention would cure this by institutionalizing capacity-building programs through regional debt advisory centers equips nations with the tools to circumnavigate complex debt negotiations.

The African Society of International Law (AfSIL) is pleased to invite paper proposals for its fourteenth annual conference on the theme “Africa, Culture, and International Law.”

We are particularly interested in innovative academic approaches that address these themes within the African context. We welcome proposals from all approaches, including critical, doctrinal, analytical, conceptual, reflexive, interdisciplinary, post-critical and speculative traditions of law, that enable a serious scholarly reflection on private international law and sustainable development. Contributions will start filling a significant gap in the literature and promote a deeper understanding the relationships, the impact and the potential of private international law in sustainable development in Africa.

Therefore, it is important to analyse the impact of these International Financial Institutions in the development of African countries which they operate in. It is also necessary to assess their accountability mechanisms and legal personalities in line with International Law, the United Nations Principles for Responsible Investment and the United Nations Guiding Principles on Human Rights Impact Assessments of Economic Reforms. This is because their regulation and compliance with International Standards and International Law is an important and contemporary area which would inform their effectiveness and their contribution to sustainable development while considering the UN 2030 Agenda and 2063 Agenda for Africa.

Interested scholars and practitooners are invited to submit an abstract of about 400 words, in English, French, Portuguese or Arabic, by 25th June 2024 at the latest, at the following email address AfCFTA.HAQAA@obreal.org.

Focusing on limiting IFF is a much better option for providing African countries with the necessary funds towards achieving Agenda 2063 and the United Nations Sustainable Development Goals. Realizing tax revenue from reducing IFFs may also reduce dependence on foreign aid. As African countries take the required steps to curb IFF, it is relevant to note that no single country can independently curb Illicit financial flows, especially from aggressive tax planning. Increasing financial transparency through consistent domestic policy implementation and international cooperation remains one of the most efficient channels to halt IFFs out of Africa.

Africa is unquestionably confronted with substantial development financing needs, which are further exacerbated by two independent, yet interrelated problems that are depleting the already scarce resources: illicit financial flows (IFFs) and a growing burden of unsustainable debt. To effectively tackle the complex challenges of Africa’s development; including achieving the SDGs, combating the effects of climate change, and resolving human rights issues; it is imperative to address IFF by promoting tax justice and to confront unsustainable debt through debt justice. Given the importance of establishing this link, this blog post delves into the challenges and nexus between IFF and unsustainable debt and provides high level policy recommendations.

In the last decade, there have been seven major leaks of financial documents in tax havens which have exposed the international web of financial flows, mechanisms to facilitate these flows and the major role players in these activities. In each leak, questions often arise on how both legal loopholes and illicit means are used to facilitate the outflow of funds from low- and middle-income countries to tax havens by corporations, wealthy individuals, and politically exposed persons (PEPs). These leaks are often the result of whistleblower-led investigations and the release of these financial documents has become a primary resource in understanding how financial corruption works globally. The effects of these leaks have seen heads of government sacked or resigned in some cases while little to no action takes place in other countries. However, what is undeniable is the role of whistleblowers is increasingly becoming central to curbing illicit financial flows (IFFs) especially as the global digital economy and stronger privacy-enhancing technologies make the detection of IFFs harder. Within Africa, very few countries have comprehensive national laws for whistleblowers despite the majority ratifying international agreements for the protection of whistleblowers. Using Nigeria, Kenya, and South Africa as case studies, this note reviews the regulatory landscape in the countries and the extent to which current laws and practices aid or hinder whistleblowing on IFFs.