The Maracha County MP who is also Chairperson of Uganda Parliamentary Network on Ilicit Financial Flows and Tax Justice Hon. OGUZU LEE has appealed to Africans to stop Africa's resource leakage. He made the appeal in Lusaka Zambia while addressing legilators drawn from African continent and constituted into African Parliamentary Network of Ilicit Financial Flows and Taxation. Each year each year Africa loses $ 50bn to IFFs according report by High Level Panel commission led by former Mr. Thabo Mbeki, former South African president. IFFs are behind millions of Africa's population living in abject poverty by deny nations the critical resources needed for service delivery. Oguzu asked the legislators to be alive to the fact that Africa loses more resources through IFFs than what it receives in aid and Direct Foreign Investments. "Legislators have a role to play in protecting resources of their nations even for future generations," observed Oguzu Lee. It's time to renegotiate all contracts that disadvantage our people. It's time to ensure Africa's mineral resources are managed transparently. It's critical that exemptions and tax holidays are offered on the basis of cost benefit analysis.
The objective of the meeting was to build an informed and equipped team of parliamentarians, with the ability to develop or review relevant legislations and oversight the executive on the issue of IFFs, and, with increased political will to curb IFFs at the national, regional, and continental level.
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