about the book

On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d’Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. The authors examine the modus operandi of capital flight: the ‘who,’ ‘how,’ and ‘where’ dimensions of the phenomenon. ‘Who’ refers to major domestic and foreign players; ‘how’ refers to mechanisms of capital acquisition, transfer, and concealment; and ‘where’ refers to the destinations of capital flight and the transactions involved.The evidence reveals a complex transnational network of actors and enablers involved in orchestrating and facilitating capital flight and the accumulation of private wealth in offshore secrecy jurisdictions. This underscores the reality that capital flight is a global phenomenon, and that measures to curtail it are a shared responsibility for Africa and the global community.

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PRAISE FOR ON THE TRAIL OF CAPITAL FLIGHT

“A must read.”
- Rob Davies, former Minister of Trade and Industry, South Africa

“Cutting-edge analysis.”
- Ricardo Soares de Oliveira, Oxford University

“Clearly demonstrates that capital flight from Africa is not just an African issue.”
- Janvier Nkurunziza, UNCTAD

“A political time bomb based on a surgical economic analysis. Read it.”
- Prime Nyamoya, former senior consultant to the African Development Bank

“A foundation for further research and action.”
- Martin Ravallion, Georgetown University

“The world has much to learn from their forensic analysis.”
- Jomo Kwame Sundaram, former assistant secretary-general, United Nations Department of Economic and Social Affairs

“Léonce Ndikumana and James Boyce have been at the forefront of research on illicit financial flows since before that term was even coined.”
- Alex Cobham, Tax Justice Network