The US-led Counter ISIS Finance Group (CIFG) has warned that the Islamic State is capitalising on Africa’s weak counter-terrorism architecture to raise funds on the continent, with South Africa being one of the major conduits for moving money.
In a report made public this week, the CFIG – a working group of the US-led Global Coalition to Defeat ISIS – noted that ISIS perceived Africa as a more permissive environment for its financial activities and has increasingly relied on its Africa-based branches to generate revenues.
“Since 2019, ISIS has been increasingly relying on Africa-based branches to generate revenues probably because the group perceives less counterterrorism pressure in Africa compared to the Middle East,” the report said.
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