"Let's put an end to IFFs and make sure that the money is used for development ..."

"Let's put an end to IFFs and make sure that the money is used for development ..."

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CRADEC (Centre Régionale Africain Pour le Développement Endogène et Communautaire a lancé cette pétition adressée à Politicians, the National Assembly, the Senate, ministries and local authorities

The various institutions specialized in international finance deplore enormous losses for Africa due to Illicit Financial Flows (IFFs). The staggering figures presented by these institutions speak volumes about the extent of the problem. $ 50 billion lost on average by the African continent per year between 2003 and 2012 (more than 29,000 billion FCFA) according to the World Bank.
According to Global Financial Integrity, multinationals also play a leading role in Illicit Financial Flows. The research organization also indicates that some of these companies use illicit practices. By way of illustration, falsified commercial invoices accounted for 68.8% of illegal capital outflows from Sub-Saharan Africa.
Illicit financial flows from Cameroon have become a matter of great concern because of their scale and negative effects on development and governance in Cameroon. Let us specify the country records a loss of 7 billion Dollars, about 4,200 billion FCFA, approximately the public budget.
IFFs prioritize profitability and minimization of inputs, affecting workers' wages, working conditions and, in extreme cases, facilitating the exploitation of workers. However, the revenues we lost could have been spent on activities that benefited the multinationals: health, worker training and infrastructure investments. Instead, lost income means that the rich become richer while the poor become poorer. Moreover, it is the poor who suffer because they depend the most on public services.
The fight against Illicit Financial Flows should be at the center of concerted discussions between governments, the private sector, civil society and international institutions for a united front, an appeal for a more committed public policy and the establishment of an exchange of information and experience between African countries.
The 2016 Mining Code refers to international commitments on financial transparency, the CEMAC Transparency Directive is internalized through the 2018 Transparency Code. Control institutions ANIF, CONAC, Supreme Audit Chamber address these questions.
Africa must change its discourse. It can do without development aid, it needs just to recover the lost income. Let’s put an end to Illicit Financial Flows and ensure that money is used for equitable development.


In view of the urgency and gravity of the situation, the citizen that I am cannot remain indifferent. By signing this call, I hereby reaffirm my commitment without hesitating alongside with TJNA and CRADEC in the fight against Illicit Financial Flows.

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