Erasmus Shalihaxwe
Officials from various local institutions are currently undergoing anti-money laundering and counter-terrorism financing training.
This training aims to enhance the country’s ability to combat money laundering and terrorist financing.
The three-day workshop began in Windhoek on Wednesday and is organised by the European Union Global Facility project in collaboration with Namibia’s Financial Intelligence Centre.
Ana Beatriz Martins, the EU Ambassador to Namibia, stated that the training will assist Namibian competent authorities in establishing an effective Beneficial Ownership Framework (BO) and fostering strong coordination among all relevant stakeholders.
“Money laundering, terrorist financing, and the proliferation of illicit financial flows are global challenges that no country can tackle alone. By joining efforts and expertise between Namibian and EU practitioners, we can be more efficient and effective in countering these threats jointly. We are confident that the coming days of joint work will strengthen Namibia’s AML/CFT response capacity and inch it closer to exiting the FATF grey list,” said Martins.
The workshop will primarily focus on evaluating the progress of reforms, ongoing initiatives, and key stakeholders involved in BO in the country.
Experts will also present various BO activities and tools developed by the EU Global Facility, addressing the specific needs identified by Namibia.
The goal is to develop a roadmap for the upcoming months.
The executive director of the Ministry of Industrialisation and Trade, Sikongo Haihambo, said the workshop came at the right time to strengthen Namibia’s regulatory framework while maintaining a business-friendly environment.
“We believe that with the right support, Namibia can successfully implement the necessary reforms while minimising any negative impacts on the economy. In this regard, we seek your expertise and guidance in identifying the most effective strategies and priorities.” Haihambo said.
Officials from institutions such as the Financial Intelligence Centre, Bank of Namibia, Bankers Association of Namibia, Business and Intellectual Property Authority, Central Procurement Board of Namibia, Institute of Chartered Accountants of Namibia, Namibia Financial Institutions Supervisory Authority, Namibia Revenue Agency, Namibia Savings and Investment Association, Master of High Court, and Office of the Prosecutor General form part of the workshop.
