AFRICA SHARPENS TAX TOOLS, NETS €400M IN 2024 THROUGH TRANSPARENCY DRIVE

Eleven African countries mobilised nearly €400 million in additional tax revenue in 2024 through improved tax transparency and information exchange.

Africa Tax transparency Finance data sharing Cooperation.
2025 Tax Transparency report
2025 Tax Transparency report


African countries are ramping up efforts to close tax loopholes and track hidden wealth, mobilizing nearly €400 million in 2024 alone through stronger transparency and information exchange mechanisms, according to the latest Tax Transparency in Africa 2025 report.

The surge in revenue is attributed to a growing culture of cooperation among 11 participating nations, who leveraged tools such as the Exchange of Information on Request (EOIR) and the Automatic Exchange of Information (AEOI) under the Common Reporting Standard (CRS). EOIR yielded €123 million while AEOI contributed over €275 million.

In a record-setting year, African countries issued 1,756 information requests, nearly double the number sent in 2023. These efforts have expanded the continent’s tax cooperation network to 3,358 relationships, mostly through the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), now joined by Madagascar and Algeria.

Financial data sharing is also gaining momentum. Six countries Seychelles, Mauritius, Ghana, Nigeria, and Kenya have already begun exchanging data, with Morocco, Uganda, Senegal, Rwanda, Cameroon, and Tunisia set to follow by 2026.

Meanwhile, South Africa, Uganda, Nigeria, and Seychelles have announced plans to implement the Crypto-Asset Reporting Framework between 2027 and 2028 a strategic move in an increasingly digital financial world.

Despite progress, challenges persist. While African countries received data on 2.28 million offshore accounts worth €211 billion and sent data on accounts worth €36 billion, automated matching is still lacking, forcing officials to rely on manual processes. Beneficial ownership supervision also remains weak in some jurisdictions.

Capacity-building efforts are underway. Over 1,220 officials were trained in 2024, with another 1,131 trained locally, supported by the Global Forum’s Women Leaders in Tax Transparency initiative and a newly adopted Model Strategy for Maximizing EOI.

The Africa Initiative, which now includes 39 African member countries, is backed by institutions such as the World Bank, the African Union Commission, and donors like France, Germany, Sweden, Switzerland, and the European Union.

The findings, presented at regional meetings across Lomé, Asunción, Freetown, Luanda, and Zanzibar, reinforce the message that while tax transparency is gaining traction in Africa, wider adoption and smarter implementation are crucial to unlock its full potential.

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