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SA to push for reduction of illicit financial flows at G20 Summit

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South Africa will push for sustainable and inclusive growth, the creation of decent jobs and the reduction of illicit financial flows at the G20 Summit which begins in Hangzhou, China this weekend.

President Jacob Zuma is leading the country’s high level delegation of ministers and business people to the two day meeting.

As the only permanent African member of the G20, South Africa has over the years used its participation to raise issues of concern to Africa with other G20 members.

And this year, it will focus on among others things the illicit financial flows from the continent, estimated at almost 90 billion US dollars per annum.

Pretoria believes development in Africa could hit a brick-wall if this loss of capital is not halted.

Over the next two days, President Zuma will have a bilateral meeting with Chinese President Xi Jingping as well as other leaders of the BRICS nations.

He is also expected to meet the Presidents of Chad and Senegal who are invited as the Chairs of the AU and Nepad respectively.

[Source: SABC]
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