South Africa and Nigeria have been officially removed from the Financial Action Task Force’s (FATF) global money-laundering grey list. This significant announcement was made on October 24, 2025, marking a major milestone in addressing financial crimes within two of Africa’s largest economies.
Previously, being on the grey list indicated that these countries had strategic deficiencies in combating money laundering and terrorist financing. Their removal from this list signifies that substantial improvements have been made in their financial regulatory systems.
Along with South Africa and Nigeria, Mozambique and Burkina Faso also exited the list after implementing strategic reforms. The FATF’s decision is a reflection of:
- Extensive reforms
- Enhanced enforcement measures
- Alignment with global standards
This development is expected to have several positive impacts:
- Boosting international confidence in both countries
- Encouraging increased remittances and foreign investments
- Facilitating smoother cross-border financial transactions
- Improving regulatory cooperation across the African continent
- Supporting economic growth and regional stability
South African President Cyril Ramaphosa welcomed the decision, highlighting its importance for economic progress. Financial analysts also emphasize that the removal from the grey list could pave the way for enhanced cooperation and stronger economic ties in the region.
Stay tuned to Questiqa World News for more latest updates on this and other global developments.
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