Kenya has renewed calls for stronger international cooperation and intelligence sharing in the global fight against terrorism financing during the 5th No Money for Terror Conference held in Paris, France.
Speaking at the high-level forum, Treasury Principal Secretary Chris Kiptoo said terrorism financing continues to pose a major threat to global security and economic stability, requiring coordinated efforts among governments, financial institutions, and development partners.
“Terrorism financing remains a global threat that requires coordinated international action, stronger partnerships, and enhanced intelligence sharing,” Kiptoo said during a panel discussion focused on disrupting financial networks used by terror groups.
Kenya Highlights Progress in Financial Reforms
Kiptoo said Kenya has made significant progress in strengthening its Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) systems through legal, regulatory, and institutional reforms.
According to the Treasury PS, the reforms are aimed at improving Kenya’s financial integrity framework and enhancing the country’s ability to respond to increasingly sophisticated illicit financing schemes.
He noted that emerging technologies and evolving global financial systems have created new challenges that require countries to continuously strengthen their monitoring and enforcement mechanisms.
Kenya Participates in Global Economic Talks
On the sidelines of the Paris conference, Kiptoo and Central Bank of Kenya Governor Kamau Thugge also participated in the G7 Finance Ministers and Central Bank Governors’ Meeting.
Kenya joined India, Brazil, and South Korea in discussions focused on global economic and financial challenges affecting both developed and developing economies.
During the meeting, Kenya raised concerns over growing geopolitical tensions, including instability around the Strait of Hormuz, warning that such developments continue to disrupt supply chains, increase energy prices, and strain global trade routes.
Officials said the effects are being felt more heavily in developing economies, where rising costs continue to pressure businesses and households.
Kenya Pushes for Inclusive Global Financial Reforms
Kenya also used the forum to advocate for reforms aimed at creating a more inclusive global financial system that supports equitable access to affordable financing and investment opportunities for developing nations.
Kiptoo urged G7 countries to support initiatives that strengthen resilient supply chains while addressing Africa’s development priorities and industrialisation goals.
The Treasury PS said stronger global partnerships are critical in helping African countries respond to economic shocks and sustain long-term growth.
France Reaffirms Commitment
French President Emmanuel Macron, who closed the conference, reaffirmed France’s commitment under its G7 Presidency to supporting collective action against global financial and security threats.
The conference brought together policymakers, financial experts, and security officials from different countries to discuss strategies for disrupting terrorism financing and strengthening international cooperation.
