Only a small percentage of the population has bank accounts, and the percentage of those owning insurance policies and securities is even lower. This is relevant given that it serves to hamper efforts to trace illicit financial flows from the continent. Weak banking regulatory and supervisory frameworks has largely hindered the effective implementation of initiatives aimed at reducing illicit financial flows from Africa.
In order to promote industrial restructuring, it is necessary to create new investment opportunities and to encourage unrestricted and creative business activity through deregulation. It is also important to increase labor mobility and facilitate land transactions.