South Africa is edging closer to a potential removal from the Financial Action Task Force’s (FATF) greylist following a critical two-day assessment visit by the FATF Africa Joint Group this week.
The inspection, which took place in Pretoria on Tuesday and Wednesday, marks the final step before the global financial watchdog decides in October 2025 whether to delist the country. Officials from government, financial institutions, and various non-bank financial sectors met with FATF representatives to discuss the progress South Africa has made in tackling money laundering and terrorist financing.
National Treasury has confirmed that the delegation concluded their visit with high-level discussions involving Deputy Finance Minister Dr David Masondo and Deputy Justice Minister Andries Nel. Both leaders reinforced South Africa’s commitment to maintain and strengthen reforms aimed at cleaning up its financial system.
This recent visit comes after the FATF, in its June 2025 session, acknowledged that South Africa had successfully completed all 22 action items outlined in the action plan adopted in February 2023 — the same month the country was placed on the greylist.
With that milestone reached, FATF’s visit was necessary to double-check whether the implemented reforms are indeed working on the ground and whether there’s political will to keep pushing for integrity in the system.
The Joint Group is expected to prepare a final report for the FATF’s October 2025 plenary meeting, where a decision on South Africa’s status will be made. If the assessment is favourable, the country could be removed from the greylist — a move that would improve investor confidence and ease financial sector pressures.
Until the FATF makes its final announcement, National Treasury says there will be no further public commentary or media engagement on the matter. The final verdict will be released after FATF’s next plenary on 24 October 2025.