The Financial Action Task Force (FATF) has removed South Africa, Nigeria, Mozambique, and Burkina Faso from its grey list, ending heightened monitoring of their anti-money laundering systems. The Paris-based watchdog cited successful on-site reviews and verified progress in addressing earlier deficiencies within agreed deadlines.
FATF president Elisa de Anda Madrazo called the move a positive step for Africa. South Africa strengthened its detection tools for illicit finance, Nigeria improved inter-agency coordination, Mozambique boosted financial intelligence sharing, and Burkina Faso enhanced oversight of its financial sector.
Nigeria and South Africa joined the grey list in 2023, Mozambique in 2022, and Burkina Faso in 2021. Nigerian President Bola Tinubu hailed the delisting as a major achievement in economic reform and global credibility. South African Revenue Service commissioner Edward Kieswetter said the removal marks a milestone, not an endpoint, in building a resilient financial system. Mozambique had previously expressed confidence in its removal, aiming for lasting reform ahead of the next FATF review in 2030.
FATF president Elisa de Anda Madrazo called the move a positive step for Africa. South Africa strengthened its detection tools for illicit finance, Nigeria improved inter-agency coordination, Mozambique boosted financial intelligence sharing, and Burkina Faso enhanced oversight of its financial sector.
Nigeria and South Africa joined the grey list in 2023, Mozambique in 2022, and Burkina Faso in 2021. Nigerian President Bola Tinubu hailed the delisting as a major achievement in economic reform and global credibility. South African Revenue Service commissioner Edward Kieswetter said the removal marks a milestone, not an endpoint, in building a resilient financial system. Mozambique had previously expressed confidence in its removal, aiming for lasting reform ahead of the next FATF review in 2030.
