South Africa is making strides toward removal from the Financial Action Task Force’s (FATF) greylist, with assessors scheduled to visit this month. According to FATF President Elisa de Anda Madrazo, Pretoria has met nearly all the requirements for removal from the list, signaling strong political will. The assessors’ visit will therefore confirm that the reforms have truly been implemented and are sustainable. Since its 2023 greylisting over financial oversight failures, South Africa has worked to strengthen anti-money laundering and counter-terrorist financing measures. While greylisting doesn’t impose direct penalties on a country, it can severely dent investor confidence and shrink capital inflows by up to 7.6% of GDP. In contrast, a successful delisting will most likely mark a turning point, restoring trust in the country’s economy and unlocking investment potential.
Business Insider Africa