Enhancing Private Sector Participation Essential for Healthy Financial System, Regional Security in Africa: ESAAMLG President

Addis Ababa, August 29, 2025 (ENA)— Strengthening regional cooperation through increased private sector participation is crucial for creating a healthy financial system and ensuring security in the region, Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Council of Ministers President and Ethiopia’s Finance Minister Ahmed Shide said. 

Ethiopia is currently hosting the 50th ESAAMLG Task Force of Senior Officials Meeting, the 25th Council of Ministers Meeting, and the 8th Government and Private Sector Dialogue Forum.

The 25th ESAAMLG Council of Ministers Meeting began at the United Nations Economic Commission for Africa (ECA) headquarters today.

Deputy Prime Minister Temesgen Tiruneh, Botswana's Deputy President Ndaba Nkosinathi, Finance Minister Ahmed Shide, ESAAMLG Executive Secretary Fiakal Zita, Financial Intelligence Service Director-General Muluken Amare and other officials and experts from various countries are attending the event.

Speaking on the occasion, Finance Minister Ahmed Shide said the platform is beneficial for all member countries and the region.

He noted that ESAAMLG believes that it is everyone's responsibility to prevent money laundering and fraud as well as financing of terrorism.

According to him, preventing money laundering and the financing of terrorism would ensure regional security and attract reliable investment.

While many countries are performing well within the ESAAMLG framework, the Minister acknowledged that some still face limitations.

To achieve the group's vision, he stressed the need to strengthen regional cooperation to break the chain of criminal activities.

Moreover, enhancing public-private partnership to strengthen regional unity is essential, Ahmed added.

The Minister further affirmed that Ethiopia will continue to strengthen its collaborative and cooperative efforts to achieve ESAAMLG's vision.