Africa News Leader Announces Release of First Blockbuster Investigative Project

WASHINGTON and LONDON, May 28, 2015 /PRNewswire-iReach/ -- Africa Confidential, the longest-established English-language publication on Africa, and The Angaza Foundation for Africa Reporting (TAFAR), a U.S.-based journalism nonprofit, today announced the publication of its first blockbuster investigative project: anexposéof massive corruption in Egypt at the hands of the country's military rulers and loyalists of the failed Mubarak regime.

Photo - http://photos.prnewswire.com/prnh/20150527/218837

Entitled, "Opening the black box of Egypt's slush funds", (africa-confidential.com/angaza-file)", the story details how Egyptian generals and senior government officials have used a complex network of slush funds as their private piggy banks, siphoning off billions of dollars from the country. It also describes how recent attempts to investigate these so-called special funds have led to cover-ups, including Egyptian police allegedly stealing records implicating them in the misuse of their own funds.

The story results from a nearly 13-month long investigation and is based on dozens of previously undisclosed memos from Egypt's Central Bank, the Finance Ministry and the Central Auditing Organization. Authors Nizar Manek and Jeremy Hodge corroborated their findings on missing billions with dozens of interviews with insiders in the financial system.

The Investigation is published at a time when foreign aid to the government of Abdel Fattah al-Sissi, who took power in a coup in 2013, is beginning to flow again. Foreign donors pledged billions in aid at an investment summit in March. Shortly afterwards, the Obama administration lifted a ban - imposed after the coup - on shipping American weapons to Egypt. The decision drew fierce criticism from human rights groups.

The story is the first Angaza File report, a joint effort by Africa Confidential and TAFAR. Angaza File stories are available free to readers through the Africa Confidential website and can be republished or broadcast in whole or in part for free as long as credit is given to the Angaza File and TAFAR. 

For more information visit www.africa-confidential.com  or contact, Bryan Pearson at+44 7909 997256 or Marissa McNee , 1-917-733-2351.

About Africa Confidential: Africa Confidential is one of the longest-established publications on Africa, with a sterling reputation for being first with in-depth news and analysis on significant political, economic and security developments. Our track record owes much to our comprehensive network of local correspondents, and the connections we've built up throughout Africa since 1960. For more information visit www.africa-confidential.com .

About The Angaza Foundation for Africa Reporting (TAFAR): The Angaza Foundation for Africa Reporting is a U.S.-based nonprofit dedicated to promoting journalism to hold governments, institutions and individuals across Africa accountable. For more information about TAFAR, including how you can help support its mission visit www.TAFAR.org .

Media Contact: Marisa McNee, Middle Coast, LLC, (917) 733 - 2351, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Africa Confidential