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Combating illicit financial flows: the AfDB holds a high-level workshop

24/06/2025
Source : ORISHAS FINANCE
Categories: Compliance

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The African Development Bank Group successfully concluded a high-level workshop followed by a policy dialogue held from 10 to 13 June 2025. The workshop aims to strengthen the capacities of the Central African Republic in the fight against illicit financial flows and to improve the governance of resource-based lending.

Held under the theme “e harnessing Africa's wealth: curbing illicit financial flows for resilient growth and development”, the workshop brought together 80 participants from the main ministries of Finance, Economy, Planning, Planning, Environment, Environment, Mines and Geology as well as civil society, the private sector and local communities. Illicit financial flows are a major challenge across the continent, siphoning off billions of dollars every year, and severely limiting the ability of African countries to mobilize domestic resources to finance their development. According to Rufin Benam Beltoungou, Minister of Mines and Geology, “the Central African Republic is rich in natural resources: gold, diamond, uranium, copper, copper, forest, among others. But without increased monitoring of institutional capacities and adequate strategic planning, these natural resources can become a source of political fragility, illicit activities, and unsustainable debt

.”

Pour sa part, Médard Goudozoui, a geological engineer and training recipient, said that “Resource-backed loans are loans secured by resources that can facilitate the construction of infrastructures, such as roads, hospitals, schools. However, you need to be careful in repayment conditions if you do not yet have control over the accounting of your resources.”

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