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Podcast: The Daily Discourse
Episode: The Property Laundromat
Description: Luxury properties in South Africa are being used to launder vast sums of money tied to corruption across Africa. This is according to a new investigative report by local non-profit Open Secrets. The report, titled For Sale: South Africa's Property Laundromat, reveals how political elites from countries such as Mozambique, Equatorial Guinea, and the Democratic Republic of Congo (DRC) exploit SA’s real estate market to conceal illicit gains. The report identifies hotspots for these illicit transactions, including high-end neighbourhoods in Johannesburg, Cape Town, and luxury suburbs such as Bishopscourt and Clifton. This report outlines some of th...