South Africa’s luxury properties used for laundering vast sums of money tied to corruption across Africa,”
Channel Africa | Africa in Business
South African non-profit organisation Open Secrets has revealed that luxury properties in the country are increasingly being used to launder large sums of money linked to corruption across Africa. According to its investigative report, For Sale: South Africa’s Property Laundromat, political elites from several African nations use South African real estate to hide the proceeds of corruption, often with the assistance of local professionals, including lawyers and real estate agents. Thami Ngubeni spoke with Michael Marchant, Head of Investigations at Open Secrets, to discuss these findings.
