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Botswana, Malawi, Zambia Collaborate for Non-Profit Financial Security Workshop

Representatives from Botswana and Malawi recently visited Lusaka, Zambia, to participate in a Regional Workshop focusing on ‘Compliance with International Financial Action Task Force (FATF) Recommendation 8.’ 

The workshop aimed to address financial security and Anti Money Laundering/Countering the Financing of Terrorism (AML/CFT) in the Non-Profit Organisation (NPO) sector.

During the workshop, there was a significant emphasis on collaboration among nations facing similar challenges in implementing FATF Recommendation 8. 

One specific area of focus was the preparation of the Sectoral Non-Profit Organisation Risk Assessment. This collaborative effort aimed to enhance the effectiveness of compliance measures in the region.

The workshop provided a valuable platform for knowledge-sharing, where representatives from Botswana and Malawi gained insights from Zambia’s best practices in implementing FATF Recommendation 8. 

This exchange of information is expected to contribute to the improvement of compliance efforts in Botswana and Malawi.

Networking opportunities were also a key component of the event, allowing delegates to connect with their counterparts in Zambia. This fostering of regional partnerships is crucial for creating a supportive network in the fight against financial crimes and ensuring the security of the non-profit sector.

The importance of South-South collaboration was underscored during the event, highlighting the value of working together among countries with similar experiences. 

The shared challenges discussed at the workshop are seen as opportunities for finding collective solutions to common issues.

In line with aligning with international standards, the workshop emphasized how enhanced compliance can strengthen the financial systems of Botswana and Malawi. This, in turn, contributes to ensuring stability and security in the region.

The European Union Global Facility expressed gratitude to its long-standing partners from Zambia, specifically the Ministry of Community Development and Social Services, as well as the Financial Intelligence Centre of Zambia. 

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