By: Precious Miracle Kargbo
The Republic of Sierra Leone is hosting the 42nd Technical Commission and Plenary of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) at the New Brookfields Hotel from 21st November 2024.
This significant event brings together 16 West African countries and over 200 delegates to address pressing issues related to money laundering and counter-terrorism financing.
The Director General of the Financial Intelligence Agency Sierra Leone, David Borbor, emphasized the importance of the gathering, stating it serves as a platform for participants to exchange best practices and foster collaboration. “Sierra Leone is honored to host such a vital event and anticipates meaningful discussions that will further strengthen regional cooperation in fighting financial crimes,” Borbor said.
A key agenda item for the meeting is the review and adoption of the 2nd Round of the Mutual Evaluation Report for the Democratic Republic of São Tomé and Príncipe.
This report is crucial for assessing the effectiveness of anti-money laundering measures in the region and ensuring compliance with international standards.
The GIABA meeting aims to reinforce the framework for anti-money laundering and counter-terrorism financing across West Africa, addressing the growing threat of financial crimes that undermine economic stability and security in the region.
The event seeks to enhance cooperation and coordination among member states by bringing together various stakeholders, fostering a united front against financial malfeasance.
As discussions unfold, participants will explore innovative strategies to combat these challenges, laying the groundwork for more robust financial systems in West Africa.
Conclusively, the outcomes of this plenary could significantly impact the region’s approach to financial governance and crime prevention, marking a pivotal moment in the fight against illicit financial activities.