By Ebi Kesiena
The African Development Bank (AfDB) has intensified its support to the Central African Republic (CAR) in the fight against illicit financial flows, with a high-level workshop held in the capital city, Bangui.
The forum aimed at strengthening the country’s institutional capacity to manage extractive resources more transparently and regulate natural resource-backed loans, a growing financial instrument across Africa.
The workshop brought together 80 participants drawn from key government ministries, civil society, the private sector, and local communities. It was organised under the Governance of Natural Resources (GONAT) project, an AfDB initiative designed to promote inclusive, fair, and transparent management of natural resources in African countries.
One of the major areas of focus was the rising use of resource-backed loans, financing mechanisms in which natural resources, such as oil, gold, or diamonds, are used as collateral for infrastructure development. While such arrangements can offer fast capital for development, experts at the meeting warned that without adequate legal safeguards and transparency mechanisms, they pose serious risks.
Rufin Benam Beltoungou, CAR’s Minister of Mines and Geology, noted the importance of regulatory frameworks in avoiding the pitfalls of debt mismanagement.
“Without strong institutions and accountability, resource-backed loans can deepen economic vulnerabilities and perpetuate corruption,” he said.
Participants reviewed case studies from other African countries and global benchmarks, examining how illicit activities in the mining and natural resources sector deprive countries of critical revenues that could otherwise fund education, healthcare, and infrastructure.
Significantly, the workshop addressed gender inclusivity in resource governance. AfDB Country Officer for the Central African Republic, Mamady Souaré, highlighted the importance of ensuring women and local communities are not left behind in the reform process. “Our goal is to achieve at least 40% female participation in all governance discussions. Sustainable development cannot happen unless we listen to women and give them seats at the table,” he said.
The workshop marks a growing partnership between the AfDB and CAR. Both parties have committed to deepen technical cooperation, promote good governance, and build the foundations for a resource-rich but more accountable economy.