ABSTRACT
Ironically, as the uprisings gathered steam, this was an era advertised in the mainstream press as 'Africa rising'. The category of 'illicit financial flows' (IFFs) reflects many of the corrupt ways that wealth is withdrawn from Africa, mostly in the extractives sector. Transnational corporate (TNC) tactics include mis-invoicing inputs, transfer pricing and other trading scams, tax avoidance and evasion of royalties, bribery, 'round-tripping' investment through tax havens and simple theft of profits via myriad gimmicks aimed at removing resources from Africa. The most profound analysis of IFFs on a continental scale has been conducted by Burundian political economist Leonce Ndikumana, a professor at the University of Massachusetts-Amherst, who argues that: Globalisation and unregulated finance have also facilitated the expansion of capital flight and illicit financial flows from African countries. The chapter finally discusses major challenge for Africans who rise up against injustice, especially in forms which can generate solidarity with the rest of the world's progressive people.
