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Background and Context

This webinar, part of the third module in our series, centers on sustainable financing as it relates to maintaining control over economic and financial flows—a critical element in Africa’s economic development. Unlike previous modules that laid the groundwork for broader development and policy challenges, this session takes a closer look at the challenges in controlling financial flows, including illicit financial flows (IFFs) and trade mispricing, inefficient public spending, and inefficient tax systems, and their wide-reaching consequences. Participants will explore the policies and practices needed to curb these uncontrolled outflows, which continue to drain valuable resources from African economies.

The core argument in Module 3 is that sustainable financing is unattainable without comprehensive control over financial and economic flows. These represent a significant obstacle, as they erode Africa’s financial resources, weaken macroeconomic stability, and hinder trade. This is largely due to multiple factors, including illegal commercial practices, base erosion and profit shifting (BEPS), and inefficient controls within both public and private sectors. Unproductive public spending exacerbates these challenges, undermining Africa’s ability to self-finance its development goals.

Curbing these illicit flows requires a multi-faceted approach that includes tightening public finance management, investing in data infrastructure, and fostering international tax cooperation. Module 3 delves into these complex solutions, emphasizing that only by addressing these systemic inefficiencies can Africa mobilize the resources necessary for sustainable financing. Without this control, reliance on foreign aid and unsustainable debt remains a risk, preventing African nations from achieving long-term growth and resilience.

Through this webinar, participants will critically examine the economic, social, and institutional gaps that enable IFFs, as well as the policy tools available to counter these issues. The session encourages a proactive approach, where African countries can leverage international partnerships, anti-corruption measures, and regulatory reforms to regain control over their resources and chart a path toward self-sustaining economic growth.

Objectives

• Evaluate the impact of IFFs and other inefficiencies on Africa’s sustainable financing capacity.
• Identify strategies for improving public finance management, enhancing fiscal efficiency, and addressing ineffective tax exemptions.
• Examine the potential for alternative financing mechanisms, such as pension funds and carbon markets, to support sustainable development.

Guiding Questions

• What are some of the most effective measures for aligning fiscal policy with sustainable economic goals to prevent uncontrolled economic outflows such as IFFs?
• How does trade mispricing contribute to illicit financial flows, and what policies can African nations adopt to tackle this issue?
• What role does efficient public finance management play in mitigating the effects of inefficient tax exemptions and inefficient public spending?

• What potential do pension funds and carbon markets hold as untapped financing sources for African countries seeking sustainable funding avenues, and what policy considerations should be applied?

Panel Composition

• Jean-Paul Adam, Director for Monitoring, Policy and Advocacy, Office of the Special Adviser on Africa.
• Elizabeth Agathine is the Principal Secretary of the National Planning Department within the Ministry of Finance, National Planning, and Trade in Seychelles. With a background in economics and public policy, she oversees strategic planning initiatives and works on shaping economic and financial strategies to support Seychelles’ sustainable growth goals. Her role includes guiding national projects, ensuring alignment with fiscal policies, and working with local and international partners to implement reforms that support the resilience of Seychelles’ economy. (Pre-recorded contribution)
• Deka Moussa Ragueh is a seasoned environmental and development expert who currently serves as a Senior Programme Management Officer at the United Nations Economic Commission for Africa (UNECA). Her work has focused on program oversight, the blue economy, and regional initiatives. Previously, she has held roles at UNDP and has acted as an advisor and technical expert to ministries in Djibouti on natural resources and environmental policy focused on integrating sustainable development into national strategies.
•  Bartholomew Armah served as the Chief of the Development Planning, Macroeconomics and Governance Division at the United Nations Economic Commission for Africa (UNECA), where he focused on integrated planning for sustainable development across Africa. He played a key role in promoting structural transformation through policy frameworks aimed at inclusive growth and economic sustainability. With a strong background in economics, Armah contributed to several high-level initiatives, including the UN Secretary General’s Transition Team for development reform, where he coordinated planning and policy efforts to address social and environmental issues. His work has been instrumental in advising African governments on optimizing policy sequences for sustainable outcomes
•  Thierry Watrin is the current Lead of UNECA’s Sustainable Debt Coalition, spearheading international efforts on debt sustainability while championing global concessional climate finance initiatives. As former Chief Advisor to the Minister of State for Public Investment and Resource Mobilization in the Government of Rwanda, he has been instrumental in shaping a consolidated public investment portfolio, a national income strategy, and public policies to ensure sovereign debt sustainability, while driving high-level climate diplomatic negotiations for a green, resilient, and inclusive economy. With over 13 years of international experience spanning four continents, he brings expertise in development finance, climate diplomacy, and sovereign debt management. His career has encompassed leadership strategic roles in both the public and private sectors.

Panel Structure and Times

• 8 a.m. - 8:15 a.m.: Introduction to Module 3 by Jean-Paul Adam. 

• 8:15 a.m. - 9 a.m.: Panel discussion guided by the key questions. 

• 9 a.m. - 9:45 a.m.: Q&A session with participants. 

• 9:45 a.m. - 10 a.m.: Technical issues and UNSSC support 

Expected Outcomes

• Increased understanding of the impact of uncontrolled financial outflows on sustainable development.
• Identification of strategies to improve public finance management.
• Enhanced dialogue on improving financial governance, reducing inefficiencies, and controlling economic flows.