The Africa Initiative has developed and expanded its capacitybuilding activities to ensure transparency and exchange of information (EOI) benefit African countries. In 2022, five African countries reported identifying EUR 76.6 million of additional revenues (tax, interests and penalties) through EOI, the highest amount since the launch of the Africa Initiative in 2014.
The Africa Initiative has developed and expanded its capacitybuilding activities to ensure transparency and exchange of information (EOI) benefit African countries. In 2022, five African countries reported identifying EUR 76.6 million of additional revenues (tax, interests and penalties) through EOI, the highest amount since the launch of the Africa Initiative in 2014. These latest figures bring the total revenues identified by African countries as a result of EOIR*, other offshore tax investigations, AEOI*-related voluntary disclosure programmes and the use of data automatically exchanged to at least EUR 1.69 billion since 2009. Given the size of illicit financial flows from African countries, and recognising the potential of tax transparency and exchange of information to fight them and to raise resources for development, African countries members of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) decided to create an African-focused programme in 2014: the Africa Initiative.
