The African Development Bank Group and the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) officially launched a three-year regional support project on 25 July to strengthen efforts against money laundering and terrorism financing. Titled the “Regional Capacity Development Project for ESAAMLG on Anti-Money Laundering and Combatting the Financing of Terrorism,” the initiative aims to build institutional and regulatory resilience in Eastern and Southern Africa.
The launch event was held in Dar es Salaam, Tanzania, and was attended by senior officials from the African Development Bank, ESAAMLG, and government representatives from Burundi, Eritrea, Madagascar, Mozambique, and South Sudan—the primary beneficiary countries. Other development partners and Tanzanian government representatives also participated.
The $5.2 million project is financed through the African Development Bank’s Transition Support Facility (TSF Pillar III). The ESAAMLG Secretariat will lead the implementation, with a focus on enhancing national anti-money laundering (AML) and counter-financing of terrorism (CFT) frameworks, particularly in countries undergoing political or economic transition.
This initiative complements the Bank’s broader strategic engagement on economic governance and anti-corruption efforts. It aligns with the Bank’s Policy on the Prevention of Illicit Financial Flows, the Strategy for Economic Governance in Africa, and the 2024–2026 Action Plan for AML/CFT.
AfDB officials reiterated the institution’s ongoing commitment to fighting financial crimes across Africa, including support to other FATF-style regional bodies such as GIABA and GABAC. ESAAMLG leadership welcomed the collaboration, especially as the organization embarks on its third round of mutual evaluations to assess member states’ compliance with AML/CFT standards.
As an observer member of both ESAAMLG and the Financial Action Task Force (FATF), the African Development Bank plays an influential role in shaping continental strategies and operational plans targeting illicit financial flows and promoting financial integrity.
