"Africa loses $50 billion a year through tax avoidance and fraud, report states"

Africa’s money that could be used to improve lives and reduce poverty is leaving the continent through illicit financial flows defined as money illegally earned, transferred and used...Considering the rapid population growth of the past two decades resulting in the largest youth population in the world, and that in 2010 about 414 million people compared to 290 million in 1990, lived on less than $1.25 a day, these IFFs are a huge drain and a hindrance in addressing the developmental needs of the African people. 

This money, usually made from laundering proceeds of crime, abuse of power, market or regulatory abuse with a considerable portion emanating from tax abuse, comes from commercial and criminal activities, and abuse of entrusted power through corruption. Companies may hide wealth, avoid taxes and dodge custom duties through transfer pricing and trade mispricing. Underreporting of profit and misinvoicing of services are also common practices. Criminals make their money by keeping transactions from view of law enforcers through trafficking of people, drugs and arms, smuggling of oil and minerals.