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The African Development Bank Group (AfDB) has forged a strategic partnership with the International Criminal Police Organization (Interpol) to intensify efforts in combating corruption and financial crime across Africa.
According to a statement released on Friday, AfDB is the first multilateral development bank to establish such a collaboration with Interpol, marking a significant milestone in the fight against financial misconduct.
The agreement was formalized through a Letter of Intent signed by AfDB President Dr. Akinwumi Adesina and Interpol Secretary-General Valdecy Urquiza during Urquiza’s visit to the bank’s headquarters in Abidjan.
This partnership will bolster cooperation between AfDB’s Office of Integrity and Anti-Corruption and Interpol’s Financial Crime and Anti-Corruption Centre. The collaboration aims to enhance investigative capabilities, facilitate expertise exchange, and develop proactive measures to tackle emerging financial crime threats, including cyber fraud, corruption, and the financing of terrorism.
Speaking at the signing, Adesina emphasized AfDB’s unwavering commitment to protecting development resources and ensuring they serve their intended purpose.
“This partnership underscores our zero-tolerance stance against corruption and terrorism financing. As the world’s most transparent financial institution for two consecutive editions, according to Publish What You Fund’s assessment of sovereign portfolios, we are committed to helping African nations build robust systems against money laundering and financial crime,” he stated.
Interpol’s 2024 Global Financial Fraud Assessment has identified business email compromise, phishing, romance scams, and other digital fraud schemes as growing threats to Africa’s rapidly evolving digital economy.
Urquiza, who assumed office as Interpol Secretary-General in November 2024, stressed the urgent need for strong collaboration between law enforcement agencies and financial institutions to tackle these evolving challenges.
“Corruption and financial crime remain significant barriers to economic and social development across Africa and beyond. The increasingly sophisticated nature of financial crimes, particularly in the digital space, necessitates stronger partnerships between financial institutions and global law enforcement. Through this alliance with AfDB, we aim to equip African law enforcement and financial systems with the tools needed to combat these threats,” Urquiza remarked.
Adesina reaffirmed AfDB’s commitment to supporting African nations in strengthening transparent governance, reinforcing institutional capacity, and enhancing Know Your Customer (KYC) and due diligence frameworks. These measures will play a critical role in preventing fraud, corruption, and other financial crimes, ultimately fostering inclusive and sustainable economic growth across the continent.
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