Kampala, Uganda – High-level officials from Eastern and Southern Africa gathered in Kampala for the 49th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) meeting, aimed at combating illicit financial flows and enhancing regional security against economic crimes.
Key Highlights:
President Museveni Calls for Stronger Measures
In a speech delivered by Prime Minister Robinah Nabbanja, President Yoweri Kaguta Museveni emphasized that weak legal frameworks enable money laundering, allowing criminals to exploit economies. He urged member states to strengthen laws and enhance cross-border cooperation to track and block illicit funds.
Uganda’s Commitment to Financial Integrity
- Henry Musasizi (State Minister for Finance) reaffirmed Uganda’s dedication to fighting money laundering.
- Ramathan Ggoobi (Permanent Secretary, Ministry of Finance) highlighted Uganda’s progress in tightening financial regulations but acknowledged that corruption and fraud still fuel illegal money flows.
ESAAMLG’s Regional Role
- The 21-member group, established in 1999, focuses on anti-money laundering (AML) and counter-terrorism financing (CFT).
- Delegates from member states, including finance ministers, judges, and financial intelligence experts, discussed strategies to improve compliance with international AML standards.
Why It Matters:
- Money laundering threatens economic stability by enabling fraud, terrorism financing, and organized crime.
- Uganda has been identified as vulnerable due to gaps in tracking illicit transactions.
- Stronger regional collaboration is needed to freeze suspicious funds and prosecute offenders.
Next Steps:
- Tougher legislation to monitor cross-border cash flows.
- Enhanced financial intelligence sharing among ESAAMLG members.
- Capacity-building programs for law enforcement and judiciary.
Final Thought:
"Illicit financial flows undermine development. Uganda and ESAAMLG must act decisively to protect our economies." — Henry Musasizi
