SecFin Africa is a continental initiative that aims to strengthen national and inter-regional frameworks for the prevention of money laundering and the financing of terrorism (AML/CFT) in Sub-Saharan Africa. Through specialized technical assistance, the project supports public authorities in the design, implementation and enforcement of effective policies against illicit financial flows, in line with Financial Action Task Force (FATF) standards and regional governance and security priorities.

African countries lose more than $89 billion each year to Illicit Financial Flows (IFFs), according to the most conservative estimates. This amount is almost equivalent to the sum of the combined annual contributions of public development aid and foreign direct investment in the whole of Africa. These flows deprive the continent of resources essential for socio-economic progress, weaken state capacities and the mobilization of national resources, while slowing down development in crucial sectors such as health, education and infrastructure. Often stemming from criminal activities that are not prosecuted, these flows are laundered and reinvested in the formal economy, fueling corruption, organized crime and terrorism.

The project, funded by the EU, Germany and France, is structured around four regional offices (hubs) that allow a close presence in the beneficiary countries and facilitate direct coordination with key actors such as Financial Intelligence Units (FIUs), judicial bodies, investigative agencies and regulatory bodies.

Participation of Spanish institutions

FIAP participates as an implementing entity, together with Expertise France (consortium leader), GiZ and CIVIPOL, bringing its distinctive approach to public technical cooperation, which mobilizes the knowledge and experience of Spanish public administrations. In this context, SecFin benefits from the participation of institutions such as the Economic and Fiscal Crime Unit (UDEF) of the National Police, with extensive experience in complex investigations of money laundering, organized crime and corruption, as well as the Public Treasury, responsible for the supervision of certain financial and non-financial activities in the prevention of money laundering.

Michele Montemurro, coordinator of SecFin Africa’s Hub for Central Africa stressed that “Central African countries, like many others in Sub-Saharan Africa and the world, face money laundering and terrorist financing with limited institutional capacity and resources, in addition to the threat of corruption. However, there are promising aspects such as advances in regulatory frameworks, multilateral collaboration and above all political commitment within the framework of GABAC (Central African Anti-Money Laundering Action Group), which we consider essential to build a safer and more transparent financial system. SecFin Africa wants to ensure the continuity of these efforts. Our action in institutional capacity building on issues such as detection, investigation and prevention will be key to achieving results in the fight against illicit financial flows.”

This approach allows a direct exchange between European public sector professionals and their African counterparts, promoting sustainable solutions, adapted to the local context and backed by practical experience. SecFin Africa thus represents a strategic contribution to the joint efforts of African countries and European partners to reduce illicit financial flows, strengthen economic governance and promote security and sustainable development in the region.