While Africa’s overall performance on taking full responsibility for financing her development was very weak – recorded at 18% of the 2019 target, the continent registered varied progress in increasing the proportion of public sector budget funded by national capital markets and reducing the proportion of total ODA as a percentage of the national budget, achieving the 2019 targets by 15% and 73% respectively. Slow progress was made towards increasing total tax revenue as a percentage of GDP, registering only 2% of the 2019 target.

Effective domestic resource mobilisation is essential for obtaining the financing required to effectively drive the continent’s economic growth and development in an inclusive and sustainable manner. One area of importance for the continent is to reduce illicit financial flows and the ensuing loss of tax revenues and domestic investment.