Illicit Financial Flows from South Africa
This book examines the detrimental impact of illicit financial flows on South Africas development, political economy, and transformation in the 21st century.
Over the years, illicit financial flows have led to the systematic looting and channelling away of South African resources, yet they are rarely studied by researchers looking to explain the countrys underdevelopment and political economy. This book looks across sectors, showing that illicit financial flows cut across all the key pillars of development, frustrating the betterment of peoples lives in South Africa. Investigating the problem from a decolonial perspective, the book delves deep into the catastrophic impacts of illicit financial flows for people and the economy, discusses how the problem is being combatted, and ultimately suggests solutions for rebuilding social trust between people and the state.
Making an important contribution to the decolonial debate, as well as to discussions of South Africas political economy, this book will be of interest to researchers across African studies, global development, political science, law, and corruption studies.
Serges Djoyou Kamga is a Professor of Law at the Thabo Mbeki African School of Public and International Affairs, University of South Africa.
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Decolonial Perspectives on Political Economy and Corruption
Edited by Serges Djoyou Kamga
Illicit Financial Flows from South Africa
Decolonial Perspectives on Political Economy and Corruption
Edited by Serges Djoyou Kamga
First published 2022
by Routledge
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and by Routledge
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Routledge is an imprint of the Taylor & Francis Group, an informa business
2022 selection and editorial matter, Serges Djoyou Kamga; individual chapters, the contributors
The right of Serges Djoyou Kamga to be identified as the author of the editorial material, and of the authors for their individual chapters, has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.
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British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Kamga, Serges Djoyou (Serges Alain Djoyou), editor.
Title: Illicit financial flows from South Africa: decolonial perspectives on political economy and corruption / edited by Serges Djoyou Kamga.
Other titles: Global Africa.
Description: Abingdon, Oxon ; New York, NY : Routledge, 2022. | Series: Global Africa | Includes bibliographical references and index. | Identifiers: LCCN 2021011451 (print) | LCCN 2021011452 (ebook) | ISBN 9781032053592 (hardback) | ISBN 9781032053639 (paperback) | ISBN 9781003197232 (ebook)
Subjects: LCSH: Flow of funds--Corrupt practices--South Africa. | Finance--Corrupt practices--South Africa. | Capital movements--South Africa. | Corruption--South Africa.
Classification: LCC HC905.Z9 F554 2022 (print) | LCC HC905.Z9 (ebook) | DDC 332.04240968--dc23
LC record available at https://lccn.loc.gov/2021011451
LC ebook record available at https://lccn.loc.gov/2021011452
ISBN: 978-1-032-05359-2 (hbk)
ISBN: 978-1-032-05363-9 (pbk)
ISBN: 978-1-003-19723-2 (ebk)
DOI: 10.4324/9781003197232
Typeset in Goudy
by Deanta Global Publishing Services, Chennai, India
Contents
Serges Djoyou Kamga
PART 1
Illicit financial flows and the political economy of South Africa
Gerard Emmanuel Kamdem Kamga
Sakah Bernard Nsaidzedze and Pacific Thales Yapatake Kossele
Moorosi Leshoele and Vusi Gumede
Asanda Fotoyi
Asteria Nsamba and George P.N. Nsamba
Sindile A. Ngubane
Toendepi Shonhe
Marianne Sverin
T.K. Pooe
Samuel Ojo Oloruntoba
PART 2
Illicit financial flows in South Africa: A reading from an Afro-decolonial perspective
Serges Djoyou Kamga
Isaac Shai
Siphamandla Zondi
Gerard Emmanuel Kamdem Kamga and Serges Djoyou Kamga
Paul Zilungisele Tembe
Mofihli Teleki
Serges Djoyou Kamga
Annual real growth rate (constant 2010 prices), 19952018. Source: own graph using Statistics South Africa data |
Gross fixed capital formation (constant 2010 prices), 19952018. Source: own graph using South African Reserve Bank data |
Sectoral composition of employment in South Africa, 20082018. Source: own graph using Statistics South Africa data |
Structure of the mining sector (sales at current prices), 1990, 2000, 2010, and 2018. Source: own graph using Statistics South Africa data |
Illicit financial flows from South Africa, 20042013. Source: own graph using Global Financial Integrity data |
Total value gap in trade between South Africa, 36 advanced economies, and global trading partners, 20082017. Source: own graph using Global Financial Integrity data |
Total value gap as a percentage of trade between South Africa, 36 advanced economies, and global trading partners, 20082017. Source: own graph using Global Financial Integrity data |
Components of trade misinvoicing outflows from South Africa, 20042013. Source: own graph using Global Financial Integrity data |
Trends of illicit financial flows in South Africa from 2004 to 2013 |
Employment and unemployment dynamics in South Africa between 2017 and 2018 |