Mauritania Country Summary

FATF Status

Mauritania is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Mauritania was undertaken in 2021. According to that Evaluation, Mauritania was deemed Compliant for 14 and Largely Compliant for 21 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Mauritania's anti-corruption framework is primarily governed by the 2016 Law on Anti-Corruption, which aligns with the UN Convention Against Corruption and establishes specialized bodies for investigating and prosecuting corruption. Despite these efforts, enforcement remains inconsistent, leading to significant issues such as embezzlement and graft, as evidenced by the country's low ranking on Transparency International's Corruption Perceptions Index. Recent audits and investigations have revealed management lapses in public finances, prompting government action against implicated officials, while President Ghazouani's administration has made fighting corruption a key priority.

Mauritania's economy is showing signs of resilience with a GDP growth of 4.1 percent in 2023, slightly down from 6.4 percent in 2022, and is projected to rise to 5.6 percent in 2024, driven by increased exports and private consumption. The government actively encourages foreign direct investment across various sectors, including mining and agriculture, while facing challenges in regulatory transparency and legal efficiency. Despite these hurdles, Mauritania's strategic initiatives and resource wealth position it as a promising investment destination in the Sahel region.

Mauritania is actively positioning itself as a stable and attractive destination for foreign direct investment (FDI), particularly in sectors such as mining, hydrocarbons, agriculture, and renewable energy. The government has established a comprehensive investment code that guarantees security and equal treatment for investors, while also creating the Agency for the Promotion of Investment in Mauritania (APIM) to streamline investment processes. Despite facing challenges in regulatory transparency and legal efficiency, Mauritania's commitment to enhancing infrastructure and fostering international partnerships reflects its ambition to improve the investment climate.