ABSTRACT
This chapter aims to examine the nexus between illicit financial flows, governance, and development in the Republic of South Africa. Due to the limited availability of relevant data, this phenomenon was tackled based on available secondary data for analysis of illicit financial flows in relation to selected dimensions of governance and development in South Africa. The chapter establishes that illicit financial flows are a direct consequence of poor governance and corruption that all hampers the economic development of the country. The chapter equally examines this phenomenon based on the governance approaches of the four presidents that have ruled South Africa since 1994 including President Ramaphosa still in power. The chapter thus concludes that it is imperative for the government of South Africa to institute more effective mechanisms to curb illicit financial flows in order to retain and invest the country’s resources proportionate to the exigencies of its people and economic development.
