Namibia nears end of FATF grey list

Namibia has remediated all 13 strategic deficiencies identified by the Financial Action Task Force, putting the country within reach of a formal exit from the watchdog's grey list, a significant milestone for the credibility of its financial system.

The confirmation came at the launch of the Namibia Financial Stability Report 2025, where Erna Motinga, deputy chief executive of the Namibia Financial Institutions Supervisory Authority (Namfisa), said the task force had acknowledged the remediation of the two final outstanding deficiencies.

All 13 deficiencies were resolved ahead of the original May 2026 deadline, following Namibia's submission of its fourth progress report to the FATF Africa Joint Group in November 2025.

What happens next

The FATF has recommended that Namibia undergo an on-site assessment by the Africa Joint Group. The visit will verify the implementation and sustainability of the reforms before a formal recommendation to exit the grey list can be made to the FATF plenary. Rating outcomes for all action items have remained low risk since November's progress report.

How Namibia got here

Namibia was grey-listed in February 2024 after the FATF identified 13 gaps in its Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) framework. Grey-listing subjects a country to heightened international scrutiny and can raise the cost of cross-border financial activity for businesses and institutions.

Bryan Eiseb, director of the Financial Intelligence Centre, said the pace of remediation reflected the government's commitment to restoring Namibia's standing in the global financial system.

The on-site assessment is expected to be a formality if the sustainability of reforms is confirmed, bringing Namibia's grey list chapter to a close.