Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp


African Countries Boost Tax Revenues by $2.4bn in 2023, Report Shows

Friday, 07 June 2024 16:26
African Countries Boost Tax Revenues by $2.4bn in 2023, Report Shows

(Ecofin Agency) - African nations grappling with substantial financial losses from tax evasion and other illicit financial flows have ramped up their efforts in tax information requests.

In 2023, African countries significantly bolstered their capacities to mobilize national revenues through information exchanges for tax purposes. According to the latest report from the Africa Initiative on Transparency in Taxation, these efforts resulted in over €2.2 billion ($2.4 billion) in additional revenues (taxes, interest, and penalties), primarily collected by seven countries leveraging received information.

54897ok ecofin 2

Unveiled alongside a joint summit on tax transparency in Lomé, Togo, the report highlights "exceptional developments in the use of information exchange" among the continent's nations.

The report notes that in 2023 alone, this additional mobilization surpassed the cumulative total of extra revenues collected between 2009 and 2022, which amounted to €1.6 billion.

A government official from West Africa said African countries understand the seriousness of the problem with more advanced tax evasion and more illegal money moving around.

The report further underscores that in 2023, a record number of 20 African countries submitted requests. In total, African countries made the highest number of information exchange requests ever recorded, marking the continent as a net sender (where total requests sent exceeded those received) for the second time since the Initiative's inception in 2014. In practice, states formulated a total of 888 requests, marking a 40% increase.



Public Management

ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11


Benjamin FLAUX
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72


Please publish modules in offcanvas position.