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FITA2024: A Gateway to Sustainable Growth, Good Governance, Against corruption Efforts in Africa

In line with its 2024/2025 program focused on Africa and the Middle East, the World Organization Security Against Corruption & Crime (OMSAC) is actively committed to monitoring and supporting key initiatives in the financial sector. The aim of this endeavor is to promote and encourage programs that strengthen good governance and combat corruption, as well as illicit financial activities such as money laundering and capital flight. By investing in sound initiatives, OMSAC aims to eradicate harmful investments and foster a more transparent and equitable economy. It is within this context that the Integrity and Investigations department of OMSAC expresses particular interest in the FITA2024 conference, scheduled to take place in Tunisia on June 11th and 12th, 2024.

Technical Analysis and Alignment with OMSAC's Mission

Context and Objectives of FITA2024

FITA2024 is an international conference organized by the Tunisia Africa Business Council (TABC) under the high patronage of the President of the Tunisian Republic, Kaïs Saïd. This 7th edition, scheduled for June 11th and 12th, 2024, in Tunis, aims to discuss ways to finance investment and trade in Africa. The main objectives of the event include:

  1. Promoting Tunisia as an investment destination: Showcasing Tunisia as a strategic hub for investments in Africa, highlighting its geographical and economic advantages, and its role as a gateway to European and African markets.

  2. Facilitating sectoral discussions: Highlighting key sectors such as health, education, agriculture, ICT, renewable energies, finance, and infrastructure development.

  3. Facilitating networking and B2B meetings: Creating business opportunities and partnerships among business leaders, investors, funders, policymakers, and African entrepreneurs.

  4. Knowledge sharing and workshops: Providing sessions covering various topics relevant to the economic and industrial development of Africa.

The main theme is "Enhancing local transformation and technology transfer for sustainable and inclusive growth in Africa," addressing the need for industrialization and local transformation in the African context.

Alignment with OMSAC's Mission

The mission of OMSAC focuses on combating corruption, capital flight, money laundering, and various forms of crime. Here's how FITA2024 can integrate with this mission:

Encouraging Transparency and Good Governance:

  • The presence of government delegations and pan-African institutions provides a platform to promote transparent practices and strengthen governance in commercial and financial transactions.

  • Discussions on political frameworks and business models can include mechanisms to combat corruption and illicit practices.

Preventing Capital Flight and Money Laundering:

  • By attracting international investments and facilitating financial partnerships, FITA2024 can highlight financing structures and intra-African trade development tools that comply with international anti-money laundering standards.

  • Discussed financial mechanisms may include rigorous control and verification measures to prevent capital flight and money laundering.

Promoting Sustainable and Inclusive Economic Growth:

  • Local transformation and technology transfer can reduce dependency on imports and enhance economic self-sufficiency, thereby reducing opportunities for corruption in international commercial transactions.

  • Infrastructure development and improvement in sectors such as education, health, and renewable energies can create jobs and stabilize local economies, thus reducing the temptation for criminal practices.

Enhancing Institutional Capacities:

  • Workshops and parallel events can include training and discussions on best practices in governance and anti-corruption efforts.

  • Networking between policymakers and industry leaders can facilitate the exchange of knowledge on tools and strategies to strengthen institutional capacities in combating economic crimes.

Aligning Efforts for Good Governance: A Unique Opportunity at FITA2024

For OMSAC, FITA2024, with its international framework and goals for economic and industrial development, presents a unique opportunity to align the efforts of key stakeholders across Africa in the political, economic, diplomatic, and security sectors. This event creates a space for dialogue and cooperation where discussions on financing, transparency, and good governance can be deepened and realized.

By actively participating in FITA2024, these stakeholders can not only promote their anti-corruption and anti-crime initiatives but also strengthen the institutional and legal structures necessary to prevent illicit practices. The conference provides a platform for:

  1. Exchanging Best Practices: Workshops and panels offer opportunities to share effective strategies for combating corruption and money laundering, based on successful experiences from different countries.

  2. Enhancing Institutional Capacities: Discussions can lead to practical recommendations for improving legislative and regulatory frameworks, thus promoting more transparent and accountable governance.

  3. Facilitating Strategic Partnerships: B2B meetings and networking sessions enable alliances to be forged among governments, businesses, and financial institutions, creating synergies for ethically sound economic development projects.

  4. Promoting Responsible Investments: By highlighting the strategic advantages of Tunisia and other African countries as investment hubs, FITA2024 encourages responsible and ethical financial flows, thereby reducing the risks of corruption and capital flight.

  5. Accelerating Economic Transformation: The theme of local transformation and technology transfer is crucial for inclusive and sustainable growth. By supporting industrialization and technological innovation, participants contribute to job creation and improved living conditions, which can reduce incentives for corruption.

  6. Engaging International Donors: The presence of international donors and funders helps mobilize additional resources to finance anti-corruption initiatives and strengthen local capacities to manage these funds transparently.

In summary, OMSAC extends its congratulations to the Tunisia-Africa Business Council (TABC) for its commendable actions and pays tribute to all its staff for their remarkable professionalism. We wish them continued success in their ongoing efforts to promote economic development and good governance in Africa. OMSAC fully supports the programs and events organized by TABC and pledges to provide assistance and support to ensure their continued success.

OMSAC Integrity & Investigations Department

Here is the official program of FITA2024

1 Comment

May 23

Very nice 💯

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