{"id":91950,"date":"2025-10-24T19:01:57","date_gmt":"2025-10-24T19:01:57","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list"},"modified":"2025-10-24T19:14:25","modified_gmt":"2025-10-24T19:14:25","slug":"south-africa-off-the-grey-list","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list","title":{"rendered":"South Africa off the grey list"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa and Nigeria were taken off a global watchdog\u2019s dirty-money list, providing stimulus for increased remittances and foreign investment in two of Africa\u2019s largest economies.<\/p>\n

The Paris-based Financial Action Task Force on Friday said the countries \u2014 along with Mozambique and Burkina Faso \u2014 are no longer on the list of jurisdictions subject to increased monitoring, after their governments stepped up efforts to combat money laundering and terrorist financing.<\/p>\n

\u201cThis plenary has been a positive story for the continent of Africa,\u201d FATF President Elisa de Anda Madrazo told reporters in Paris at the conclusion of the session.<\/p>\n

\u201cThese countries have worked hard to close loopholes that criminals exploit. It\u2019s the result of sustained efforts by authorities.\u201d<\/p>\n

South Africa and Nigeria landed on the greyy list in February 2023, while Mozambique was added in October 2022 and Burkina Faso originally got designated in February 2021.<\/p>\n

The decision shows \u201ctremendous confidence in our ability to deal with anti-money laundering and terror financing,\u201d Ismail Momoniat, a technical adviser to South Africa\u2019s National Treasury, told SABC News.<\/p>\n

\u201cWe\u2019ve just started to solve our problems, and we do need to do far more.\u201d<\/p>\n

The yield on the South African benchmark 10-year bond fell 4 basis points to 8.9%. The rand appreciated 0.4% at 17.27 per dollar by 6:31 p.m. in Johannesburg.<\/p>\n

Market optimist<\/b><\/p>\n

South Africa\u2019s exit from the list should reinforce market optimism and signal progress on government reforms \u2014 a boost for institutional strength that may lift sentiment, lower bond yields and ease debt-servicing costs, even if it doesn\u2019t alter the growth outlook, Jee-A Van Der Linde, senior economist at Oxford Economics, said before the release.<\/p>\n

Nigeria\u2019s President Bola Tinubu said the development recognized the country\u2019s \u201cjourney toward economic reform, institutional integrity and global credibility.\u201d<\/p>\n

The removal from the so-called grey list should also make it easier and cheaper for citizens working overseas to send money home. That\u2019s particularly relevant for Nigeria, which receives about $20 billion a year in remittance inflows.<\/p>\n

\u201cThis development reinforces confidence in our economy and the integrity of our monetary and financial systems, signaling to investors and global partners that Nigeria\u2019s institutions are strong, transparent and internationally trusted,\u201d<\/p>\n

Finance Minister Wale Edun said in a message sent by text before the announcement. \u201cIt will ease cross-border transactions, improve capital flows, including foreign direct investment, and strengthen the foundations for rapid and sustainable economic growth and job creation.\u201d<\/p>\n

New investment<\/b><\/p>\n

The FATF announcement may also help pave the way for new investments by foreign firms in projects such as the massive liquefied natural gas project in northern Mozambique.<\/p>\n

Bloomberg reported last month that the FATF was set to announce the moves.<\/p>\n

Under the presidency of Mexican official De Anda, the group has revamped its grey-listing criteria. It has placed a greater emphasis on scrutinizing the body\u2019s wealthiest members while putting less of a focus on jurisdictions classified as least-developed countries, which typically pose a lower systemic risk.<\/p>\n

The FATF assessment calendar shows South Africa could have an on-site visit in April 2027, when it will be evaluated on the group\u2019s new methodology for its fifth round of reviews.<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa and Nigeria were taken off a global watchdog\u2019s dirty-money list, providing stimulus for increased remittances and foreign investment in two of Africa\u2019s largest economies. The Paris-based Financial Action Task Force on Friday said the countries \u2014 along with Mozambique and Burkina Faso \u2014 are no longer on the list of […]<\/p>\n","protected":false},"author":84,"featured_media":91949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-91950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nSouth Africa off the grey list - South Africa<\/title>\n<meta name=\"description\" content=\"South Africa and Nigeria were taken off a global watchdog\u2019s dirty-money list, providing stimulus for increased remittanc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa off the grey list\" \/>\n<meta property=\"og:description\" content=\"South Africa and Nigeria were taken off a global watchdog\u2019s dirty-money list, providing stimulus for increased remittanc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-24T19:01:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-24T19:14:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/10\/sm_1761320231.532651.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa off the grey list\",\"datePublished\":\"2025-10-24T19:01:57+00:00\",\"dateModified\":\"2025-10-24T19:14:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\"},\"wordCount\":538,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/10\/sm_1761320231.532651.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-off-the-grey-list\",\"name\":\"South Africa off the grey list - 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