[DEBATE] : (Fwd) Asset-stripping Africa: SA's role
pbond at mail.ngo.za
Wed Apr 29 08:00:03 BST 2009
(Ahem, "could become"? It's Pretoria's subimperial POLICY to become a
hot money centre! "South Africa could become a preferred destination for
illicit capital from African countries...")
Call to stem flow of cash to offshore tax havens
April 29, 2009 Edition 1
LACK of political will from some African governments had proved to be
one of the stumbling blocks in uncovering the illegal flow of public
funds into foreign safe havens.
Leonce Ndikumana, a senior researcher with the African Development Bank,
said: "Given the political will, nothing is impossible in uncovering
these illicit funds."
Ndikumana was speaking at the close of the first International
Colloquium on Asset Stripping yesterday at the Cape Town International
Convention Centre .
He said that for some African countries it was a simple matter of
capacity building in using forensic technology to combat asset
stripping, the extent of which was still not known due to a lack of
reporting data from African countries.
The University of Cape Town's Dean of Commerce, Melvin Ayogu, said South
Africa could become a preferred destination for illicit capital from
African countries if existing loopholes were not closed. He said the
private sector could help in combating asset stripping.
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