Magazine article Public Finance

MPs Call for Action against Corruption in Africa

Magazine article Public Finance

MPs Call for Action against Corruption in Africa

Article excerpt

The government came under pressure this week to crack down on UK's companies' tacit support of corruption and money-laundering in poor African countries.

A report by the Africa All Party Parliamentary Group, The other side of the coin: the UK and corruption in Africa, estimates that E85bn is siphoned out of Africa each year in illicit proceeds.

'Much of the money is banked in Britain or our overseas territories and dependencies, and sometimes British citizens or companies are involved in corrupt deals/ said group chair Hugh Bayley MP.

'We want our government to get tough on corruption, bring a tough new anti-corruption Bill to Parliament and bring the culprits to court.'

The group's report follows news earlier this month that the Serious Fraud Office is working with the Kenyan anti-corruption authorities in their enquiries about £200m worth of defence-related contracts with British companies. …

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