South Africa moves closer to exiting dirty-money list in October
South Africa is edging closer to leaving a global financial watchdog’s so-called gray list in October, with a team of assessors scheduled to visit the nation this month.
The Financial Action Task Force (FATF) has already determined that South African authorities had met “all or almost all of the actions” required to leave the list and the visiting team will evaluate that “implementation is there, but also that it’s sustainable,” FATF President Elisa de Anda Madrazo said Thursday.
Exiting the list would show South Africa has made sufficient progress implementing reforms to fight money laundering and terrorist financing, potentially boosting investor confidence and smoothing capital flows. Africa’s most industrialised economy joined the gray list in February 2023.
“They will come, they will assess, and they will come back to the plenary and report on their findings and we will make a decision” at the group’s October plenary, De Anda Madrazo said in an interview with Bloomberg Television. “Whatever that decision is, what I can tell you is that we do see political commitment in South Africa.”
She was speaking on the sidelines of the Group of 20 finance ministers and central bank governors’ meetings at a coastal resort in South Africa, the host.
The former Mexican official met South Africa’s central bank governor at the event and saw political commitment from the authorities, she said.
Comments
Projects
Latest Multimedia
Latest News
Showroom
Advancing leadership in technology, innovation, and project management excellence
VISIT SHOWROOM
We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
