Somalia Nears EAC Membership: Global Efforts to Prevent Financial Crime Gain Momentum
A Significant Step Towards Integration
As Somalia takes a crucial step towards joining the East African Community (EAC) by signing the accession treaty, concerns over the country’s entrenched criminal markets are growing. The move could bring numerous benefits to both Somalia and its fellow EAC members, but only if the complex and often intractable problems of organised crime, corruption, and weak governance are addressed.
Challenges Facing Somalia
Somalia is grappling with a multitude of challenges, including:
- Transnational Organised Crime: Decades of state fragility have created an environment fertile for criminal markets ranging from arms trafficking to extortion, environmental crimes, piracy, money laundering, and illicit financial flows.
- Violent Extremism: The country faces threats from terrorist groups and clan militias.
- Instability: State fragility has led to a lack of effective governance and security.
Addressing Maritime Threats
To reduce maritime threats, Kenya can help Somalia by:
- Leveraging Membership in the Combined Maritime Forces: A multinational naval partnership that promotes security and prosperity across 5.1 million square kilometres of international waters.
- Implementing One-Stop Border Posts and Migration Policies: Aid in building the capacity of Somali institutions to curb human trafficking flows and attendant crimes.
Strengthening Institutions
Somalia’s federal government has limited capacity to:
- Track Weapons: Prevent arms trafficking along its coastline.
- Control Illicit Flows: Curb flows to terrorist groups and organised criminals.
- Combat Corruption: Address corrupt deals between government officials and traders.
EAC Membership Opportunities
EAC membership could assist Somalia in:
- Requesting Deployment of Standby Forces: Fill the security vacuum as the country works to strengthen its security forces.
- Aligning Migration Policy: Improve cross-border surveillance, screening immigrants, and completing registration at points of entry.
Recommendations for EAC Member States
EAC member states should consider how to prevent Somalia’s transnational organised crime challenges from spreading into the region. This could include:
- Sharing Financial Intelligence
- Tracking Money Laundering and Terror Financing
- Implementing Effective Measures to Combat These Issues
As Somalia prepares to deposit its instrument of ratification with the EAC’s Secretary General, it is essential that the country addresses these challenges to ensure a successful integration into the East African Community.