Trade Cabinet Secretary Salim Mvurya and Treasury Cabinet Secretary John Mbadi have officially opened the 24th Council of Ministers Meeting of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in Diani, Kwale County. The meeting brings together ministers from 21 member states to discuss laws and regulations aimed at combating money laundering, terrorist financing, and proliferation financing in the region.
ESAAMLG, a regional body dedicated to implementing the Financial Action Task Force (FATF) global standards, convened to deliberate on critical strategies to address financial crimes. The conference is seen as timely, especially as Kenya and the broader African continent grapple with the challenges posed by money laundering and terrorism financing.
CS Mvurya highlighted the significance of the meeting in the context of Kenya’s efforts to create a conducive environment for business and investment. “As the government accelerates efforts to provide an elaborate environment for business and investments in Kenya, the conference is timely as it addresses glaring gaps in combating the financial vices in the country and across the continent,” Mvurya stated.
He emphasized the urgent need for both Kenya and the African continent to strengthen measures against financial crimes. “Money laundering prevention and terrorism are issues that we need to combat as a country and the African continent,” Mvurya added.
The Treasury CS echoed Mvurya’s sentiments, noting that the government has already put in place measures to enhance the ease of doing business, a key component in attracting investment and fostering economic growth in the region.
The ESAAMLG meeting serves as a critical platform for member states to align their national strategies with international standards, ensuring a unified approach to tackling the pervasive issues of money laundering and terrorism financing across Eastern and Southern Africa.
