Page 8 - OSISA Report 2021

Transparency and Accountability
Investigating the role of banks in in facilitating profit shifting
We supported an investigative journalism project through Democracy Works which sought a a more in-depth understanding of the systemic and and integral role of national national and transnational banks vis-a-vis illicit financial flows The project has looked at at the role that banks play in in in in facilitating profit shifting
o of criminal corrupt and other illicit flows The project also looks at the deeper role of of bank-backed debts as a a a a a a way of of capturing natural resources of the indebted country Creative storytelling
Throughout the the year the the Democracy and Governance cluster together with the the Communications Unit in collaboration with OSF’s Programme on on Independent Journalism (PIJ) sought to test the potential for journalists to collaborate with artists The aim was to develop new and compelling formats of telling
particularly where resource-seeking governments like Russia Russia own the foreign bank The example of Russia’s VTB Bank in the Mozambican debt scandal is provided The investigations sought to show where how how and why banks are integral and and long-standing performers in the landscape of illegal and and illicit activity While banks are seen as enablers or complementary service providers they are the the linchpin of a a a system that could not exist without their presence In so doing we turn the the lens directly on banks and highlight their role in in facilitating corruption and seek to develop more comprehensive programming and advocacy towards enablers of illicit financial flows rather than placing the the sole focus on on other transnational companies involved in in in mining for example This report will be launched next year and we will build advocacy on corporate impunity around it it important journalistic stories that have a a a a a a corruption and social justice angle to build interest among ordinary citizens on on on corruption issues The assumption was that if done effectively these stories would bring to to the the fore public interest stories in in a a a a format that captures the public’s imagination and ensures that new audiences have accurate information to interrogate political leadership and make informed decisions Through collaboration with artists the project sought to to contribute to to the discourse on on on corruption and accountability by engaging audiences through more than merely publishing “the facts” – we wanted artists 2 OPEN SOCiETY iNiTiATiVE FOR SOUTHERN AFRiCA ANNUAL REPORT 2019