The Corporate Affairs Commission is set to enjoy World Bank support and other international finance institutions to digitise legacy records dating back to 1912.
The Registrar General/CEO CAC, Hussaini Ishaq Magaji revealed this shortly after his participation at the In-Person Meeting Africa Beneficial Ownership, Transparency Network (AfBOTN) held on 9-10 October 2024 in Seychelles.
The Registrar-General further revealed that the support will include staff capacity building towards the unmasking of beneficial owners from international donor agencies.
During session 7 of the event, the CAC boss made a presentation titled”Strategies for driving compliance,” which was moderated by Thom Townsend, Executive Director, Open Ownership.
The event was the first-of-its-kind with focus on the challenges governments face when implementing beneficial ownership transparency reforms, and the way forward.
CAC News reports that the African Development Bank (ADB) and International Monetary Fund (IMF) were among several organisations that indicated interest in partnering with and supporting the Commission’s reform initiatives.
The Inaugural AfBOT hosted by the Government of Seychelles focused on the impact of BOT reforms across the continent.
The African Development Bank, the UK Foreign, Commonwealth and Development Office and Open Ownership supported the conference which dwelt amongst others, evolution of stronger ways to make it harder for the corrupt to hide their il-gotten funds around the world.
