For four days, a high-level seminar was held on concrete recommendations to combat illicit financial flows. The African Development Bank Group (AfDB) and the Government of Sierra Leone are stepping up their efforts to strengthen natural resource governance

“Harnessing Africa's Wealth: Inflecting Illicit Financial Flows for Resilient Growth and Development” was the theme of last week's seminar. Over 70 stakeholders from government, civil society, the private sector, and international organizations gathered at The Place Resort in Tokeh. Illicit financial flows are among the most pressing economic challenges in Africa

Discussions resulted in strategic recommendations, including creating national communities of practice, implementing institutional reforms, and improving transparency around resource-based lending. Participants agreed that these loans should be considered “an option of last resort” and should only be used if they ensure maximum transparency and fund investments that contribute directly to repayment capacity