The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
|Location:||Abidjan, Côte d’Ivoire|
Governance lies at the heart of addressing development challenges on the continent. While the story of the past decade has been one of steady progress throughout Africa, issues of governance, including lack of transparency and accountability remain pervasive concerns, undermining social, economic and political progress at many levels.
Illicit financial flows (IFF) and corruption are a serious consequence of these governance shortcomings. While these issues are not unique to Africa, it is the continent where the phenomena has arguably the largest impact due to the small size of its economies, and the fragility of their financial systems.
African Development Bank (AfDB) President Akinwumi Adesina has pointed out the importance of addressing corruption and tackling IFFs for economic transformation and the realization of the various development aspirations of the continent, including the Sustainable Development Goals (SDGs) and the African Union (AU)’s Agenda 2063.
The Bank recently embarked on a review of its working documents on IFFs. A new policy has been developed and the Bank is embarked on the revision and update of its 2007 Strategy on Anti-Money Laundering and Combating Financial Terrorism.
A two-day event is therefore being organized whose main objective is to carry forward the Bank’s work on transparency and accountability, in particular as regards tackling IFFs and combating corruption. The specific activities to be undertaken are the following:
The event will draw participants from the Bank’s regional member countries (RMCs) and regional organizations who are central to the Bank’s work on anti-corruption and IFFs. These include: