The acting minister of finance, Wynter Mmolotsi, has called for stronger measures to combat illicit financial flows, money laundering, and terrorist financing in the Southern African Development Community (SADC) region.
Mmolotsi highlighted that addressing financial crimes is vital to reinforcing domestic resource mobilization, driving economic growth, enhancing governance, and strengthening regional stability.
Mmolotsi said this during the official opening of the 5th SADC Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Committee Meeting in Gaborone this week.
He said that SADC Member States are grappling with the socio-economic spillover effects of prevailing geopolitical developments. Mmolotsi stated that these dynamics have exposed structural vulnerabilities in SADC economies, including a dependence on imports, constrained fiscal space, limited diversification, and heightened exposure to external shocks affecting trade, food security, energy, and financial stability.
He noted that it is against this backdrop that the region should strengthen collaboration to turn current vulnerabilities into opportunities.
Mmolotsi highlighted efforts that have been taken by Botswana to strengthen its AML/CFT framework, including the establishment of the Institute for Combating Illicit Financial Flows (ICIFF) in collaboration with the University of Botswana in 2024. He said that the Institute serves as a centre for research, capacity building, and knowledge exchange within Botswana, with plans to expand its reach across the region in the future.
“This initiative reflects our strong belief that education, skills development, innovation, and regional collaboration are critical tools in combating illicit financial flows, money laundering, terrorist financing, and related financial crimes. The ICIFF is therefore intended to strengthen efforts through research, training, multi-stakeholder engagement, and policy development,” he said.
According to him, Botswana is among the first SADC Member States to sign the amended SADC Protocol on Finance and Investment – Annex 12, having done so on 31 March 2026. He added that this demonstrates Botswana’s unwavering commitment to regional cooperation, financial integrity, and the strengthening of regional financial systems. Mmolotsi encouraged Member States that are yet to sign the amended Annex to do so at the earliest opportunity.
In closing, Mmolotsi urged SADC Member States to focus on building stronger, more integrated financial systems that support inclusive growth and regional prosperity.
Meanwhile, the two-day 5th SADC Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Committee Meeting brought together senior government officials, financial intelligence experts, law enforcement representatives, and delegates from SADC Member States to discuss strategies for combating illicit financial flows, money laundering, and terrorist financing.
