One hurdle down, one to go: Greylisting ends, but tariff turmoil looms

By Busi Mavuso 

South Africa’s completion of all Financial Action Task Force requirements is a significant achievement for our economy. I congratulate National Treasury for orchestrating a complex, multi-agency effort that has fundamentally strengthened our anti-money laundering and counter-terrorism financing frameworks.

The final hurdle – demonstrating sustained improvements in investigation and prosecution capabilities – required rebuilding capacity across our entire criminal justice system, from police units to the National Prosecuting Authority.

We now have a clear trajectory toward exiting the FATF grey list in October, pending the required on-the-ground peer review.

This progress cannot come soon enough. Grey listing has imposed crushing costs on our economy.

International financial institutions must apply enhanced due diligence to every South African transaction – a burden many simply avoid by severing relationships with our companies entirely.

BLSA sounded the alarm about impending grey listing six months before it happened, commissioning a report that analysed the potential economic