Africa, despite being hailed as the new frontier of global economic growth, is losing more wealth than it is gaining.

A new report analysing the movement of financial resources in and out of the continent shows that African countries received $161.6 billion in 2015 mainly in loans, personal remittances and grants.

However, $203 billion was taken away directly as corporations repatriated profits and by other illegal means, leading to an annual deficit of $41.3 billion.