Cameroon determined to combat financial crime-Minister Motaze

By Boris Esono (Buea-Cameroon)

Louis Paul Motaze

Cameroon’s Minister of Finance says the creation of the Cameroon National Agency for Financial Investigation in 2005 has greatly contributed to the fight against financial crimes in the country.

Minister Louis Paul Motaze was speaking in Yaoundé November 19, at the start of a three day forum jointly organized by the World Bank and the Cameroon National Agency for Financial Investigation.

According to CNT, he called on the participants to help the government become more efficient in the fight, by identifying and analyzing the risks inherent in the banking, stock exchange and the and insurance sectors as well as all other financial institutions that could be used to launder money or finance terrorism.

The opening ceremony saw in attendance the Director of the World Bank operations in Cameroon Elisabeth Huybens and the Minister Delegate at the presidency in charge of supreme state audit, Mbah Acha Rose Ngwar.

While pledging the World Bank’s commitment to assist Cameroon throughout the process, the institution’s country director Elizabeth Huybens said an evaluation of risks will enable state officials to better understand and curb the phenomenon of money laundering.

On his part, the permanent secretary of the Gabon based Central African Action Group against money laundering Gervais Mbata recommended stricter government measures adding that, their first cycle evaluation shows that Cameroon has made enormous progress within the last few years.