Monday, July 22, 2024

Botswana lost P123 billion between 2003 and 2013 due to illicit financial flows

“Despite the success story of Botswana’s economy, trade mis-invoicing outflows are prevalent, with over US$ 12.3 billion cumulatively recorded in 2003 and 2013. The driving factors for illicit financial flows in Botswana include weak enforcement institutions, corruption and existence of tax havens.”

This bad news comes from an economic outlook report for Southern Africa that was prepared by the African Development Bank.

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