02/10/2025
South Africa, Nigeria poised to exit dirty-money list in October: South Africa and Nigeria are poised to exit a global financial watchdog’s “gray list” as soon as this month, marking a change in fortune for two of the continent’s biggest economies.
The two nations were put under heightened scrutiny by the Financial Action Task Force (FATF) in February 2023 for shortcomings in tackling illicit financial flows. Assessors from the Paris-based FATF conducted on-site visits in recent weeks and subsequent feedback on the action plans for those countries — as well as for hashtag 🇧🇫 and hashtag 🇲🇿— noted significant progress, according to people familiar with the matter who asked not to be identified as the deliberations are private.
All four countries are expected to come off the list on October 24, the final day of an FATF plenary in the French capital, the people said. No final decisions have been made. Listings are determined based on a consensus among the group’s membership, which includes the hashtag , hashtag , hashtag , hashtag , hashtag and hashtag .
hashtag 🇿🇦 and hashtag 🇳🇬 exiting the list “would certainly be good for sentiment,” said Lauren van Biljon, senior portfolio manager at Allspring Global Investments UK Ltd.
“It would be confirmation that the reforms and measures put in place in the wake of the gray listing are both significant and sticky,” she said. The direct market impact may be fairly modest though a short-term lift in asset prices is possible, Van Biljon said.
The watchdog’s recommendations are closely tracked by global investors who’re wary of conducting business in places found to be deficient in anti-money laundering regulations. Jurisdictions added to the list require closer monitoring, and the designation might cast serious doubt over the integrity of their financial systems.
A 2021 report by the hashtag found gray-listed countries experienced “a large and statistically significant reduction in capital inflows.”
South Africa’s National Treasury said it would comment after the hashtag makes its decision public in October. It also referred to a statement issued in July after the FATF’s on-site visit in which it said South Africa had substantially completed all 22 action items required to be removed from the list.
Mozambique has completed the 26 actions needed to be delisted, said Luís Abel Cezerilo, national coordinator for the country’s removal from the gray list. Continue reading.. https://www.polity.org.za/article/south-africa-nigeria-poised-to-exit-dirty-money-list-next-month-2025-09-30
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