The 49th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Task Force of Senior Officials’ meeting has kicked off today (April 2, 2025) at Speke Resort Munyonyo, Kampala.
In his opening speech delivered by the Prime Minister Robina Nabbanja, President Yoweri Museveni, reiterated the need for regional and global collaboration to combat money laundering.
He said money laundering, along with the financing of terrorism and the spread of weapons of mass destruction, goes beyond being mere financial crimes.
The President noted these activities, pose serious threats to national security, economic stability, and development, stressing that if left unchecked, such illicit activities have the potential to undermine trust in financial systems, discourage investment and support criminal networks that destabilise our societies.
“I am honoured to address you today at this important gathering of the Senior Officials from ESAAMLG. Your presence and active participation in these regional efforts is a testament of our collective resolve to strengthen financial integrity, combat illicit financial flows and safeguard our economies from the harmful effects of money laundering and terrorism financing and proliferation financing,” he added.
He stressed that these financial crimes are not confined to national borders, but are threats that demand regional and global collaboration.
“Criminal networks exploit weaknesses in financial systems to move illicit funds across borders, undermining economic growth, fuelling corruption and funding terrorism,” Museveni noted.
Recent reports indicate that Africa is annually losing resources in billions of dollars due to illicit financial flows, mainly through organised crime, corruption and tax evasion.
The Financial Action Task Force (FATF) and ESAAMLG have continued to push for stronger Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) measures. However, criminals are continuously adapting to their methods.
“Terrorist groups and organised criminal networks continue to finance their activities through illegal trade, drug trafficking and exploitation of weak regulatory frameworks. Strengthening compliance with global standards such as the FATF Standards and enhancing collaboration with law enforcement agencies continue to be at the forefront of our priorities,” he added.
The Eastern and Southern African region faces threats from several terrorist groups, including; Al-Shabaab and Islamic State (IS).
Museveni noted that the rapid digitalization in Sub-Saharan Africa has opened up new avenues for terrorist groups to recruit, radicalise and fundraise online, presenting fresh challenges for counter-terrorism efforts.
Uganda, like other ESAAMLG Member States, has undertaken significant steps to combat the money laundering and terrorism financing threats.
“We have strengthened our legal frameworks, established and strengthened the relevant institutions and worked closely with regional and international counterparts to exchange intelligence and best practices. However, we acknowledge that combating financial crime is a constantly evolving challenge that requires ongoing adaptation and vigilance,” he noted.
He stressed that different jurisdictions in the Eastern and Southern Africa region have made progress in implementing measures to combat money laundering and terrorism financing.
However, he noted that experience has proven that, it is increasingly difficult for States to fight financial crimes on their own, except by working together.
“Therefore, as a community in the region and beyond, we need to remain resolute in working together to secure the integrity of the global financial system. I commend the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) for its vital role in fostering regional cooperation, supporting capacity building and ensuring compliance with international standards, particularly those set by the Financial Action Task Force (FATF). Together, we can ensure that our nations are not exploited for illicit financial activities,” he added.
He also thanked ESAAMLG for its contribution towards the removal of Uganda from the list of jurisdictions under increased monitoring by the FATF commonly known as the FATF “grey list”, in 2024.
He urged that the meeting to focus on actionable strategies that will strengthen our collective response to financial crimes.
“Let us prioritise information sharing, capacity building and the harmonisation of policies that will enhance our region’s ability to detect, prevent, and prosecute money laundering and terrorism financing,” Museveni said.
He stressed that Uganda remains fully committed to the ESAAMLG Agenda, and will continue to support regional and global initiatives to build a safer and more transparent financial system. “Together, we can strengthen the integrity of the global financial system, combat illicit financial flows, and contribute to global economic stability,” he said.
He also stressed that there is need to permanently cure Africa’s vulnerable position in the global arena of economic and political giants.
He said Africa is still an easy prey for plunder and marginalization, as long as the strides towards economic and political integration remain sluggish.
“As we advocate for peace, it is critical that industrialization is embraced in order to stop exportation of unprocessed raw materials. This is unfavorable to economies because our people lose money and jobs,” he added.
The President noted that economies should transition from exportation of raw materials to industrial production through value addition of available resources. “This will also ensure that our resources are not easily and quickly exhausted,” he added.
He noted that in order to transform socially and economically, countries should produce goods or services for commercialization targeting regional, continental and global markets.
“We should strongly advocate for unity, economic integration and fight against the subsistence mind-set of our communities; champion infrastructural development; ensure peace and stability in the entire continent; remove all communications and trade barriers; and ensure financial stability and access to factors of production in general,” he added.
In his remarks, Samuel Were Wandera, Executive Director of the Financial Intelligence Authority, reaffirmed the country’s commitment to combating money laundering, terrorism financing, and proliferation financing.
He noted that hosting this meeting is a significant milestone in strengthening Uganda and the region’s efforts.
He highlighted Uganda’s robust legal, regulatory, and institutional framework as a testament to the government’s dedication to financial integrity and stability.
He also acknowledged the Ministry of Finance, Planning and Economic Development for fully funding the meeting and providing continued support for AML/CFT initiatives.
Recognising the delegates’ demanding schedules, he encouraged them to experience Uganda’s renowned hospitality, describing it as the “Pearl of Africa” with breathtaking landscapes, diverse cultures, and warm people.
