JOIN US AT THE 12TH CONFERENCE OF THE PARTIES OF THE UNITED NATIONS CONVENTION AGAINST TRANSNATIONAL ORGANIZED CRIME (UNTOC) SIDE EVENT


Date: 15-October 2024
Time: 01:00 pm -01:50pm (CET)
Venue: https://lnkd.in/dVhvi62m
 More information about the Conference may be found at https://lnkd.in/g7A6RxBU

The African Center for Governance, Asset Recovery and Sustainable Development is set to host a crucial side event at the 12th session of the Conference of the Parties to the United Nations Convention against Transnational Organized Crime. This event, themed “Countering Illicit Financial Flows in the Extractive Industry in Africa,” will take place virtually on October 15, 2024, from 1:00 pm-1:50 p.m.

Illicit financial flows (IFFs) pose a significant challenge to Africa’s development, with the continent losing approximately $88.6 billion annually. The extractive industry is particularly vulnerable, with corruption, tax evasion, and money laundering undermining national security and public trust. Weak governance, lack of effective regulations, and institutions facilitate IFFs, resulting in substantial revenue losses for African countries.

The side event aims to address these critical issues by exploring strategies to combat IFFs and promote sustainable development in Africa. Key strategies to be discussed include enhancing legal and regulatory frameworks governing the extractive industry, promoting responsible business conduct within the sector, strengthening governance and institutional capacity, and facilitating international cooperation for the return of IFF proceeds to support sustainable development.

The event is organized in collaboration with the Nigerian Extractive Industries Transparency Initiative (NEITI) and IBLF Global. It brings together experts and stakeholders to share knowledge and best practices in combating IFFs. By leveraging international cooperation and strengthening institutional capacity, African countries can effectively counter IFFs and promote sustainable development.

To participate, click the link: https://lnkd.in/dVhvi62m