Angola takes on first presidency of African anti money laundering group

2 September 2014

Angola will take on the first rotating presidency of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the Ministry of Finance said in a statement Monday in Luanda.

The statement said that the 14th Meeting of the Council of Ministers of the organisation, which brings together 17 states in southern and eastern Africa, will take place on 5 September and will be preceded by the 28th meeting of experts, held from 31 August to 4 September.

The ESAAMLG was established in 1999 in Arusha, Tanzania, and in addition to Angola includes, South Africa, Botswana, Cameroon, Ethiopia, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe .

The Republic of Rwanda is part of the group as an observer.

Commenting on the meeting of experts held in Luanda, the deputy governor of the National Bank of Angola, Ricardo de Abreu, said it was imperative that countries adopt a set of measures and apply them in order to prevent and combat money laundering .

Quoted by Angolan news agency Angop, Abreu said that money laundering is not only a national but regional and international issue, and that the first step should be the definition of a legal framework and regulations based on international recommendations. (macauhub/AO)