Speeches

Reply by the Hon AC Nel, MP, Deputy Minister of Justice and Constitutional Development to a statement on South Africa’s exiting of the Financial Action Task Force (FATF) Greylist by the Hon NA Gcaleka-Mazibuko, MP (ANC) made in the National Assembly on Tuesday, 28 October 2025

We welcome the statement by the Hon Gcaleka-Mazibuko, MP, (ANC) that South Africa has exited the Financial Action Task Force (FATF) greylist, formally called the list of “Jurisdictions under Increased Monitoring.”

This is a demonstration of how a capable, ethical developmental state should work by bringing together the whole of government and the whole of society.

However, while exiting the greylist is an important milestone and a demonstration of South Africa’s commitment to rebuilding the rule of law, it is only the start of a broader process to continue to strengthen key institutions, improve enforcement and governance processes, and ensure that such improvements are sustainable and that our systems become increasingly effective in combating money laundering, terrorism financing and the proliferation of illicit financial flows.

Neither Government agencies nor regulated entities in the private sector - nor Parliament for that matter - can afford to become complacent and stop improving.

Instead, through public-private collaboration, they must continue to strengthen South Africa’s Anti-Money Laundering and the Combating the Financing of Terrorism (AML/CFT) systems.