Wednesday, 27 July 2016

GLOBAL WITNESS COMMENT ON NEW PANAMA PAPERS LEAK ON SECRET DEALS IN AFRICA

GLOBAL WITNESS COMMENT ON NEW PANAMA PAPERS LEAK ON SECRET DEALS IN AFRICA

28/07/2016

On 12 May 2016, the Anti-Corruption Summit London 2016 
came just weeks after the Panama Papers thrust offshore
 secrecy and corruption into the international spotlight,
 and represents an historic opportunity to tackle crime
, poverty and instability at the source. 

“The ICIJ’s latest Panama Papers leak shows that in 44 out of 54 African countries, anonymously owned companies were used to assist oil, gas and mining deals and exports. This gives a window on to the murky underworld of secret deals and sham companies that is robbing people in the world’s poorest continent of their futures. Rather than being used to build hospitals and schools, these huge sums are siphoned off through offshore companies, helped by lawyers and other professionals, and then spent on luxury goods and property in the US and UK. If we are serious about ending corruption and the damage it does, we must end anonymously owned companies,’ said Rachel Owens, Senior Campaigner at Global Witness

Global Witness