Ethiopia’s Finance Minister Stresses Private Sector Role in Securing Africa’s Financial Systems

Addis Ababa, August 29, 2025 (FMC) — Active private sector engagement is indispensable to building resilient financial systems and safeguarding regional security, Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Council of Ministers President and Ethiopia’s Finance Minister Ahmed Shide said today.

Ethiopia is 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 ministerial meeting officially opened this morning at the United Nations Economic Commission for Africa (ECA) headquarters in Addis Ababa.

The gathering is being attended by Deputy Prime Minister Temesgen Tiruneh, Botswana’s Vice President Ndaba Nkosinathi Gaolathe, Finance Minister Ahmed Shide, ESAAMLG Executive Secretary Fiakal Zita, Financial Intelligence Service Director-General Muluken Amare, along with senior officials and experts from across the region.

In his remarks, Minister Ahmed said the platform provides member states with an opportunity to align strategies against financial crimes that undermine growth and stability. He underscored that combating money laundering, fraud, and the financing of terrorism is a shared responsibility for all nations.

According to him, curbing illicit financial flows will not only bolster security across the region but also enhance investor confidence and promote sustainable development.

While acknowledging strong progress in several member states, Ahmed noted that some countries still face challenges. He emphasized that reinforcing regional cooperation is critical to dismantling criminal networks and protecting the integrity of financial systems.

He further highlighted the importance of strengthening public–private partnerships as a foundation for deeper regional integration and collective security.

Reaffirming Ethiopia’s commitment, Ahmed said the country will continue to intensify collaboration with member states to advance ESAAMLG’s vision of a secure and transparent financial landscape in Eastern and Southern Africa.