DRC: The True Cost of Mineral Smuggling in the DRC

Jan 11, 2016 | Institute for Security Studies
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Africa loses far more money through illicit financial flows every year than it receives in aid and foreign direct investment. Global Financial Integrity (GFI) estimated that Africa loses a total of US$38.4 billion annually through trade mispricing, and US$25 billion through other illicit flows. According to a joint report by the African Development Bank and GFI, the illicit haemorrhaging of resources from Africa is about four times that of Africa’s current external debt. Unethical commercial transactions by multinational companies make up a massive 60% to 65% of the illicit outflow of the continent’s wealth.