n Africa Conflict Monthly Monitor - Counterfeit economy : the impacts of counterfeit goods on African society - : Africa-wide - featured analysis

Volume 2013, Issue 04
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The distribution and sale of counterfeit goods in Africa is one of the most concerning issues for African leaders. Counterfeiting is a lucrative international industry which, according to the Organisation for Economic Cooperation and Development (OECD), accounts for 5-7% of total world trade. It has become most prevalent in developing regions like Africa that contain high levels of poverty and poor regulatory systems. The economic implications of counterfeiting in Africa include domestic revenue loss, rising unemployment and the movement of business opportunities offshore. Some have argued that the problem is hindering Africa's long-term development by encouraging criminal activity and reducing the innovation of local businesses and industries. There have also been major health issues caused by the exposure of African people to faulty electronic devices and counterfeit medicines.

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