D u September 4 to 6, 2024 will be held in Dakar, Senegal, a High-Level Forum on Compliance. It is the result of collaboration between the African Export-Import Bank (AfreximBank) and the Intergovernmental Action Group against Money Laundering in West Africa (GIABA)

The pan-African multilateral financial institution announced the big meeting on August 1, 2024, in Cairo, Egypt. According to the statement, the aim is to improve global trade in Africa and to align with international regulatory and compliance standards. The forum will look at the Financial Action Task Force on Money Laundering (FATF) requirements for identifying ultimate beneficiaries (UBO) and their significant implications for trade facilitation

According to the source, the Forum will explore the transformative role of artificial intelligence (AI) in compliance processes. It will also discuss strategies for African countries to make the reforms needed to be removed from the FATF grey list. Also, it would be an opportunity to present the latest technologies in compliance.

In addition, this meeting will also provide a platform for experts working in the field of compliance and control to discuss these requirements and their practical impact on trade facilitation in Africa. The Forum will also see the participation of delegates from Africa, the United Kingdom, Europe, Russia and the United Arab Emirates