AfreximBank , The pan-African bank has a new facility within it to help establishments on the continent to equip themselves with compliance tools.

“Bookman Old Style”, serif"> AfreximBank a with the ambition to go beyond financing. It also wants to strengthen the competencies of African institutions. So AfreximBank dispose now from the Afreximbank Compliance System Financing Facility (ACSFF), a device dedicated to the financing of compliance tools. Its objective is to enable African banks to acquire the necessary software and infrastructure to meet international standards in the fight against money laundering, terrorist financing (AML/CFT) and compliance with sanctions internationals.

Idrissa Diop, Afreximbank's compliance director, said that “if a bank wants to acquire a technology or a system for its department of compliance, we can give him a loan to buy it.”

For bank managers in charge of Trade finance in Africa, compliance has been for several years a strategic axis in its own right. According to Kwen Mwaba, director of trade finance at Afreximbank, the bank has set up a due diligence framework, a central tool for verification and sharing of information between institutions.