Godongwana just blamed Zuma for the money mess while denying any crisis exists claiming the government faces tight finances purely because of state capture. The Finance Minister spoke on the Adjustments Appropriation Bill, where he insisted the Treasury is successfully shrinking debt. He argued that fiscal consolidation is actually working despite what critics scream about a collapse.
South Africa finally escaped the European Union high-risk list following a similar move from the Financial Action Task Force. Godongwana linked those embarrassing listings directly to weak laws against money laundering and terror financing which festered under previous leadership. He noted that repairing such institutional destruction takes ages and has cost the ruling party serious support at the polls.
The nation officially leaves that watchlist shortly alongside places like Nigeria, Tanzania, and Mozambique. This shift marks progress in cleaning up the financial reputation damaged years ago.
South Africa finally escaped the European Union high-risk list following a similar move from the Financial Action Task Force. Godongwana linked those embarrassing listings directly to weak laws against money laundering and terror financing which festered under previous leadership. He noted that repairing such institutional destruction takes ages and has cost the ruling party serious support at the polls.
The nation officially leaves that watchlist shortly alongside places like Nigeria, Tanzania, and Mozambique. This shift marks progress in cleaning up the financial reputation damaged years ago.
