IPO-Eastern Africa Network

Where Creative Minds Congregate for Community Development!

"Corruption and financial crime are among the biggest obstacles to economic and social development in Africa and around the world. The evolving nature of financial crime, particularly in the digital environment, requires strong partnerships between law enforcement and financial institutions. Interpol's closer relationship with the African Development Bank Group will help law enforcement agencies and financial institutions across Africa tackle increasingly sophisticated financial crime threats," notes Valdecy Urquiza, Interpol's Secretary General.

African Development Bank and Interpol Partners to Combat Financial Crime and Corruption

February 21, 2025

By Abdi Ali Published February 21, 2025 African Development Bank has signed an agreement with International Criminal Police Organization (Interpol) in their joint effort to fight corruption and financial crime across Africa. RELATED: Illicit Financial Flows and Inadequate Energy Hinder Africa’s Industrialisation The partnership, that is expected to enhance collaboration between the Bank’s Office of…

Speaking about 'the perverse effects of illicit financial flows on African economies', Songwe said this reduces the 'continent’s ability to achieve its goal of industrialisation as it loses US$100 Billion, which represents 4% of the continent's gross domestic product, annually.

Illicit Financial Flows and Inadequate Energy Hinder Africa’s Industrialisation

December 18, 2017February 25, 2019

By Irene Gaitirira Published December 18, 2017 Africa cannot accelerate growth without access to adequate energy. Vera Songwe, Executive Secretary of United Nations Economic Commission for Africa in Addis Ababa, Ethiopia, says under-developed energy infrastructure and growing demand could help attract more private sector investment in the energy-development sector. To attract investment, Songwe told the…