'Currently, there are no consequences for the U.S.-based companies involved in the illicit looting of African nations' wealth.'
of African resources are lost to the Global North in Illicit Financial Flows, or IFFs. It isn’t just the Russians—U.S.-based corporations and others throughout the Global North are also complicit in this theft.But at this point, as far as we can tell, curbing these flows is not on the Biden administration’s agenda for the U.S.-African Leaders Summit, which will take place this December. This seems to be at odds with President Biden’s commitment to “reinforce the U.S.
First on the agenda should be our stance regarding the new demand for lithium, cobalt, and other strategic minerals needed to fuel electric cars. We have an opportunity to get ahead of IFF activity in this relatively new industry, including amplifying community voices that call for transparent contracting, substantive investment in communities, decent wages and working conditions for miners, and annual tax revenue reporting.
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