Tanzania joins ESAAMLG drive to combat money laundering, terrorist financing

KIGALI: RWANDA is hosting the annual meetings of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), bringing together government leaders at ministerial, permanent secretary and senior official levels from various sectors.

The meetings aim to strengthen joint efforts among member states to combat money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.

Member states are being urged to strengthen their financial crime prevention systems by focusing on measurable, tangible outcomes rather than concentrating solely on meeting technical compliance requirements.

The meetings, being held in Kigali, include the 52nd Senior Officials Meeting, the 26th Council of Ministers Meeting, and the 9th Public-Private Sector Dialogue.

Tanzania is among the countries participating in the meetings and is represented by Finance Minister Ambassador Khamis Mussa Omar, Minister for Constitution and Legal Affairs Dr Juma Homera, permanent secretaries from the two ministries, and Deputy Permanent Secretary of the Ministry of Finance and Planning-Zanzibar, Aboud Hassan Mwinyi.

Other Tanzanian representatives include Financial Intelligence Unit (FIU) Commissioner Majaba Magana, Bank of Tanzania Deputy Governor Sauda Msemo, heads of institutions, financial-sector experts, financial-sector supervisors and development partners from across Eastern and Southern Africa.

ALSO READ: Tanzania proposes amendments to 21 laws including Atomic Energy Act, Anti-Money Laundering Act

The theme of this year’s meetings is focused on encouraging member states to move beyond technical compliance and demonstrate the actual effectiveness and results of their financial crime prevention systems.

According to an official statement, the meetings are being organised through cooperation between the ESAAMLG Secretariat, the Government of Rwanda, Rwanda’s Ministry of Finance and Economic Planning, and the Rwanda Financial Intelligence Centre.

The cooperation is part of Rwanda’s efforts to further strengthen its financial oversight systems and increase its contribution to the fight against financial crime across Africa.

The meetings are also expected to provide member states with an opportunity to exchange experiences, discuss emerging challenges affecting financial systems and develop joint strategies to prevent financial crime across Eastern and Southern Africa.