Treasury to Kenya for AML/CFT Talks

Brian Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence, is set to make an official visit to Nairobi, Kenya, and Mogadishu, Somalia from July 24 to 29. The journey emphasizes the U.S. determination to fortify financial ties with Africa.

Nelson's discussions will revolve around strengthening anti-money laundering and counter-terrorism financing (AML/CFT) measures, as well as capacity-building in these domains. He will explore innovative strategies, including fintech, to foster safe financial inclusion, in light of the repercussions of de-risking across Africa. The agenda also covers strategies to combat illegal wildlife trafficking, along with efforts to tackle regional security issues by focusing on fighting groups like ISIS and al-Shabaab.

Moreover, Nelson will talk about Somalia's strides toward achieving debt relief under the HIPC framework this year. He will also shed light on the ongoing impacts in the region due to Russia's war against Ukraine. He plans to emphasize the persistence of sanctions exemptions for food and agricultural transactions, as outlined in the recent U.S.-U.K. humanitarian fact sheet.

During his visit to Kenya, Nelson will engage with high-ranking government officials and private sector representatives. He plans to facilitate a roundtable discussion with financial institutions and conduct meetings with local fintech firms.

In Mogadishu, he will have talks with government officials, members of the Somali Bankers Association, and the Money Transfer Business Association.to discuss Somalia’s progress toward debt relief this year under the HIPC framework, as well as the prolonged spillover effects in the region of Russia’s war against Ukraine. He will highlight the continued sanctions exemptions for food and agricultural transactions, including those highlighted in the recent U.S.-U.K. humanitarian fact sheet.

This trip marks Nelson's second official visit to the continent and his first to East Africa. It builds on Secretary Janet Yellen's earlier trips this year to Senegal, Zambia, and South Africa.

The inaugural meetings of the U.S.-South Africa Task Force on Combating the Financing of Wildlife Trafficking, a group co-led by the Treasury, took place in Pretoria, South Africa, last month. [Readout]