African Union, others meet to address Illicit Financial Flows in Extractive Industry

These include the AU Special Declaration Assembly/AU/Decl.5 of January 2015, the Nouakchott Declaration on the African Anti-Corruption Year and the Common African Position on Asset Recovery adopted by the AU Summit in February 2020.

During the two-day exchanges, participants will discuss CAPAR, the need for enhanced transparency and accountability, stricter regulations and increased international cooperation in the extractive industry. In addition, they will address the impact of illicit financial flows and the common occurrence of corruption in commodities trading.

It is worth noting that CAPAR is a policy advocacy instrument aimed at assisting AU Member States to trace, identify, repatriate and subsequently effectively manage their assets, including items of cultural heritage, in a manner that respects their sovereignty and for the benefit of African peoples who are ultimately victims of illicit financial flows.

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AU, stakeholders to address illicit financial flows, asset recovery in extractive industry | TheCableStakeholders in the extractive industry are set to address illicit financial flows and propose asset recovery solutions in a conference.
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