Africa lost between US1.2 and US1.4 trillion over three decades through illicit financial flows, says GIABA DG

Director General (GIABA) Dr. Abdullahi Shehu

The Director General of Inter-Government Action Group against Money Laundering in West Africa (GIABA) Dr. Abdullahi Shehu disclosed a study by African Development Bank (AFDB) has revealed that Africa lead the rest of the developing world, having lost between US1.2 and US1.4 trillion over the 30 year period 1980- 2009 through illicit financial flows.

Dr. Abdullahi Shehu was recently speaking at the opening ceremony of two day regional workshop on AML/CFT requirements for accountants at the Kairaba beach Hotel on Wednesday.

Meanwhile, the GIABA boss further stated that worldwide estimates of the amount of money laundered annually range between US700 billion and US1.8 billion, about 5% of the world GDP. A study by Kar & Freitas, also revealed that developing countries lost between US585.9 billion and US918.6 billion annually over a 10 year period from 2001 to 2010.

Universal Properties are solution to Gambia’s housing problem, says GM Sarja Jawara.

The General Manager of Universal Properties Gambia Ltd Sarja Jawara, has underscores the company’s desire to provide a solution to housing problem to Gambians for both civil servant and private employees special the low salary income earner, adding that the company are the solution to Gambia’s housing problem

GM Sarja Jawara

The company since its inception under the wise leadership of CEO Mr. Alagie Sanyang many years ago has fought tooth and nail to make sure that every Gambia has a house or a compound to leave.

Mr. Jawara was speaking to Eras Business & Financial News in an interview at his office in Kairaba Avenue, saying Universal Properties has been successful leading the Gambia’s housing industry for over a period of time without realizing a treat from another real estate company.

Universal Properties Gambia Ltd. handles house sales, accommodation rentals and most importantly land for sale, with a unique, affordable flexible payment plan.

Houses for sale at Taf Estate in Brufut Gardens, Brufut Heights, Sanyang and Kerr Serigne. Plots are also for sale at Brusubi, Brufut near the beach, Gunjur, Sukuta and Tujering real estate localities.