Off the books – Egypt’s hidden $9.4bn

Daily News Egypt | 24 June 2015
Daily News Egypt speaks with the journalists behind an investigation that claims to have documented officials siphoning vast sums of public money to top-up salaries and maintain networks of political allegiances
In May, journalists Nizar Manek and Jeremy Hodge published in the Africa Confidential newsletter an Angaza File investigation entitled ‘Opening the black box of Egypt’s slush funds’. Through their report, which took a year to research, they allege that Egypt’s government operates a hidden $9.4bn of public money spread around 7,000 ‘special funds’ of ministries, local governments, and agencies.
The cash goes unchecked by central government and whilst some services are being paid from them, many public officials are putting the funds to huge personal profit.
Daily News Egypt spoke with Manek and Hodge to understand the implications of what they found.
(3,296 words)