Namibia: Money Leaks – N$17 Billion Lost Per Year

A Loophole in Namibia’s financial system is causing the country to lose about N$16.7 billion per year.

This is equivalent to about 9% of the country’s nominal gross domestic product (GDP).

The estimated annual leakage is about 16% of the government’s total budget and more than the allocation made to the Ministry of Health and Social Services, which is N$13 billion.

This money is lost through tax evasion, trade incorrect invoicing, corruption and the proceeds of crime.

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