Afreximbank pushes for AI-driven compliance to boost African trade

Afreximbank is driving AI integration in African trade compliance to improve regulatory processes and reduce financial crime risks.

Speaking at a forum in Dakar, Compliance Director Idrissa Diop highlighted AI’s potential to streamline data analysis and enhance reporting accuracy for financial institutions. He stressed adapting AI to Africa's unique business environment.

The push for AI aligns with Afreximbank's goals to bolster intra-African trade and combat issues like money laundering, which have placed countries like Nigeria and South Africa on the FATF grey list.

Plans include creating an African Compliance Association to unify regulatory knowledge across the continent.