The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the
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Illicit capital outflows impede development: Alweendo
Written by Charles Tjatindi on 22 November 2017.
WINDHOEK, 22 NOV (NAMPA) – Minister of Economic Planning, Tom Alweendo said the economic development of Africa has been impeded by illicit flow of funds from the continent.
Alweendo noted that Africa is estimated to be losing more than U.S.dollars 50 billion annually through illicit capital outflows, which he said equates to about 2% of the continent’s total GDP in nominal terms.
The minister, who is also the Director General of the National Planning Commission (NPC), made the remarks in Washington, D.C. on ...
