Seychelles hosts 17th meeting of the Africa Initiative

The two day meeting is being held under the theme; Tax Transparency: Strengthening Africa’s Economic Future

 

VP Afif described the meeting as a 'gathering with purpose—a call for shared progress and collective ambition, grounded in the belief that tax transparency is a cornerstone of Africa’s development.'

 

He urged all members of the Africa Initiative to act as a collective.

 

"The Africa Initiative gives us the tools and the space to act collectively. But implementation happens at home. It happens when each of us; ministers, commissioners, technical staff, champions reform within our administrations. When we ensure that tax transparency is not just an international obligation, but a domestic priority."

 

Going forward, VP Afif has appealed for all members of the Africa Initiative to recommit to action.

 

"Let us ensure that Africa’s progress, and collective efforts, are not hindered by inertia or isolated ambition. Let us build systems that are not only compliant, but effective. Let us demonstrate, with evidence and results, that transparency leads to transformation."

 

The Africa Initiative was initiated in 2014 and consist of all African member states of the Global Forum with objective to unlock the potential of tax transparency and exchange of information for Africa by ensuring that African countries are equipped to exploit the improvements in global transparency to better tackle tax evasion.'

 

According to the 'Tax Transparency in Africa 2024 Report', African countries have identified EUR 4 billion in additional revenue from the use of Exchange of Information (EOI), with EUR 2.5 billion directly linked to Exchange of Information on Request (EOIR).