By Correspondent Benny Mwaipaja, Kigali
Tanzania has reaffirmed its commitment to strengthening regional efforts against money laundering and the financing of terrorism as East and Southern African countries seek to make their financial systems more resilient to illicit financial flows.
Minister for Finance Ambassador Khamis Mussa Omar, alongside Minister for Constitutional and Legal Affairs Dr. Juma Homera and other senior government officials, attended the opening of the annual meetings of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in Kigali, Rwanda, on Friday.
Held at the Serena Hotel, the meetings bring together senior government officials, financial regulators and private-sector stakeholders to coordinate regional responses to money laundering, terrorism financing and the financing of the proliferation of weapons of mass destruction.
The gathering comprises the 52nd Meeting of Senior Officials, the 26th Council of Ministers Meeting and the 9th Public-Private Sector Dialogue.
This year’s discussions are centred on moving beyond technical compliance towards demonstrating tangible results in the fight against financial crime across the region.
Speakers at the opening highlighted the growing threat posed by money laundering, terrorism financing and proliferation financing, calling for stronger collective action among ESAAMLG member states.
They stressed the need for greater transparency, stronger financial safeguards and closer cooperation among countries and institutions to prevent illicit funds from entering and moving through legitimate financial systems.
For Tanzania, participation in the meetings is particularly significant as the country seeks to strengthen cross-border cooperation in investigating suspicious transactions, tracing illicit financial flows and improving the integrity of its financial system.
Such cooperation is also expected to contribute to creating a safer and more predictable environment for business and investment by strengthening confidence in the financial system.
Effective anti-money laundering and counter-terrorism financing frameworks are increasingly important for economies seeking to attract international capital, as investors and financial institutions place greater emphasis on the integrity, transparency and risk-management standards of markets in which they operate.
The Kigali meetings are expected to produce resolutions and recommendations aimed at helping member states strengthen their policies, legislation and institutional frameworks to protect their economies from the misuse of financial systems.
Tanzania’s delegation includes Secretary-General in the Ministry of Constitutional and Legal Affairs Dr Seif Abdallah Shekalaghe; Deputy Permanent Secretary in the Ministry of Finance and Planning–Zanzibar Aboud Hassan Mwinyi; Financial Intelligence Unit (FIU) Commissioner Majaba Magana; and Deputy Governor of the Bank of Tanzania Sauda Msemo.
Heads of institutions, financial-sector experts, regulators, financial institutions and development partners from across the region are also participating in the meetings.
The discussions come at a time when governments across East and Southern Africa are under growing pressure to ensure that financial systems do not become channels for proceeds of crime, terrorist financing or other forms of illicit financial activity. For Tanzania, stronger regional cooperation could therefore have implications beyond financial crime enforcement, supporting the country’s broader objective of maintaining a credible financial system capable of underpinning trade, investment and sustainable economic growth.
