South Africa has reached a significant milestone in its efforts to restore international financial credibility. The National Treasury has confirmed that the country has successfully implemented all 22 recommended actions outlined in the Financial Action Task Force’s (FATF) 2023 Action Plan, a pivotal development in its journey to be removed from the FATF grey list.

This progress follows the FATF Plenary held on 13 June 2025, where the international standard-setter acknowledged South Africa’s marked improvement in tackling financial crime. The FATF commended authorities for advancing complex investigations, securing more prosecutions, and overhauling the national framework for combating money laundering and terrorism financing.

The next and final step in this process is an on-site inspection by the FATF’s Africa Joint Group, which will verify the effectiveness of South Africa’s reforms. A successful evaluation is expected to lead to the country’s removal from the grey list, a status that has, until now, carried reputational and transactional burdens for South African financial institutions and businesses.

The prospect of delisting comes as welcome news to stakeholders across the economy, including investors, financial institutions, developers, and international trading partners. A favourable outcome could unlock a range of economic benefits, such as renewed investor confidence, greater capital inflows, reduced friction in cross-border transactions, and a potential boost for the Rand.

Our multidisciplinary team of professionals applauds this progress and stands ready to assist clients with navigating the post-greylisting landscape. Whether you require legal support with cross-border structuring, commercial financing, real estate development, or exchange control matters, we remain committed to guiding you through this new era of regulatory clarity and opportunity.