ABSTRACT
Over 50 years after their political independence, most African countries remain at the bottom of the development ladder. Yet the continent is endowed with a plethora of natural resources. Notwithstanding its recent improvement and competitiveness which led to headlines such as “Africa is rising”, the continent remains poor and characterised by the lack of basic needs such as healthcare, education, sanitation, clean water, and infrastructure needed to improve people’s standard of living. This chapter explores the effects of IFFs on South Africa’s political economy. It offers insights into IFFs as a typology of threat that remains relatively unknown to many people. The chapter reflects on potential losses in revenues as a result of trade misinvoicing in the mining sector. Then the chapter concludes by highlighting mechanisms and programmes required to curb illicit capital flight in the country broadly.
