Lehana Nel, Regional Representative Namibia, Chartered Institute for Business Accountants (CIBA) Lehana Nel, Regional Representative Namibia, Chartered Institute for Business Accountants (CIBA)

Namibia Loses N$16.7 Billion to Illicit Financial Flows

N$16.7 billion left Namibia through illicit financial flows between 2022 and 2024. Accountants usually see the warning signs long before any regulator does: the payment with no commercial substance, the ownership structure that suddenly changes, the invoice that does not match the customs record. The question is what happens next.

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