GFI’s Trade-Related Illicit Financial Flows report shows that trade misinvoicing in Africa drains billions, undermines development, and fuels corruption through bribery and illicit networks

Total trade value gaps reached an estimated $152.9 billion in 2022, with South Africa accounting for $478 billion cumulatively over the decade, followed by Nigeria, Ghana, Côte d’Ivoire, and Kenya, while smaller economies like Gambia face the highest relative exposure. The primary channel is trade misinvoicing in high-value commodities such as oil, gold, and diamonds, and these illicit outflows have in many years exceeded Africa’s external debt, posing a major barrier to inclusive growth and weakening public service financing…