Ouagadougou: Often called illicit financial flows in the extractive sector, deceitful operations in the purchase and sale of minerals caused Burkina Faso to lose more than 2,700 billion FCFA over the period from 2012 to 2021, according to a report co-signed by Burkinabè civil society.
The report from the Extractive Industries Transparency Initiative (ITIE-Burkina), submitted this Wednesday to the Minister in charge of the Economy, Aboubakar Nacanabo, indicates that ‘over the period 2012-2021, the value of illicit financial flows was estimated at approximately 2,774.59 billion FCFA and concerned the export of four (4) mining products: gold, zinc, silver, manganese,’ according to the minister’s communications services.
The report specifies that these illicit financial flows exploded over the post-insurrection period, from 2012 to 2021, with a cumulative value of 3,686.75 million USD, or some 2,212.05 billion FCFA, exceeding the mining revenues garnered by the Burkina Faso during the same period.
The Minister
of Economy, Aboubakar Nacanabo, congratulated the EITI-Burkina steering committee for the quality of the study, the results of which will make it possible to measure the problem and take the necessary measures in the direction of drying up. sources of terrorist financing.
Source: Burkina Information Agency