Parliament, Saturday, 25 October 2025 – The Chairperson of the Standing Committee on Appropriations, Dr Mmusi Maimane, has welcomed South Africa’s removal from the Financial Action Task Force (FATF) greylist, describing it as a major milestone and a strong vote of confidence in the country’s ability to combat money laundering and other illicit financial crimes.
The FATF announced that South Africa, Nigeria, and Mozambique have successfully addressed the shortcomings that led to their greylisting. South Africa was placed on the greylist in February 2023 and was required to implement 22 action plans to strengthen its systems for fighting money laundering and terrorism financing.
Dr Maimane said: “We welcome this development because being on the greylist signalled that our country had become vulnerable to illicit financial activities. This milestone reflects the collective efforts of government, the private sector, and law enforcement agencies to strengthen our financial integrity systems.”
Dr Maimane added that South Africa’s removal from the greylist is expected to boost investor confidence and improve the country’s economic outlook, as some foreign investments had been restricted due to the greylisting.
“Now, we must build on this progress by ensuring continued compliance with FATF standards through tangible outcomes including effective investigations, prosecutions, and sanctions against money laundering,” said Dr Maimane.
He further congratulated the Minister of Finance and the National Treasury team for their leadership and professionalism throughout this complex process, which resulted in a positive FATF assessment for South Africa
ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE STANDING COMMITTEE ON APPROPRIATIONS, DR MMUSI MAIMANE.
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