27 Nov 2018

Deputy Permanent Secretary to Permanent Secretary to the President says Botswana, like other African countries, has embarked on a full-scale war against anti-money laundering, which threatens the world economy. 

Officiating at a five-day Anti-Money Laundering and Illicit Financial Flows course in Gaborone hosted by the Commonwealth Africa Anti-Corruption Centre, Mr Ernest Phiri said it was imperative that Africa had to pay attention to the growing problem and should, therefore, unite and fight this monster with all resources at their disposal. 

He noted that the establishment of the anti-corruption centre, which is based in Botswana, was a response to challenges faced by Anti-Corruption agencies (Commonwealth Africa) in implementing their anti-corruption mandates.

 Mr Phiri noted that the centre assisted in tackling the challenges faced by the agencies through capacity development initiatives such as training, peer reviews, twinning and other exchanges as well as research, monitoring and evaluation. 

He noted that money laundering, which is used by criminals to disguise the origin of the proceeds, was a serious headache for the world. Mr Phiri asserted that in some cases the proceeds were disguised by buying houses, going on holidays, paying for fees in expensive institutions of learning and buying expensive breeds of cattle, a trend which is common in Botswana. 

Mr Phiri, however, noted that to reducing these crimes, countries have to ensure continued political will and capacity to fully and effectively implement sound strategies. He expressed optimistimism  that the course would contribute to a more effective system for investigations, asset recovery and mutual legal assistance among member states. He further urged participants who were made of countries such as Mauritius, Seychelles, Nigeria, eSwatini and Botswana to network as it was crucial for their trade. 

“It is my assumption that being from different countries and agencies you will form bonds that will allow essential information sharing as it is an essential component of an anti-money laundering framework,” he said. 

Still, at the meeting, Mr Phiri took the opportunity to call upon visiting countries to stop by at the Botswana Investment and Trade Centre, noting he could guarantee them of their investment being safe in Botswana, and that the incentives and the returns are worth their moneys. 

CAACC manager Mr Mogolodi Rantsetse called for collaboration by countries in ensuring that the fight against any form of corruption was eliminated. ENDS