File: Deputy Minister of Finance David Masondo (L), Minister of Finance Enoch Godongwana (C) and South African Reserve Bank Governor Lesetja Kganyago (R) address the closing press conference on the last day of the G20 Finance Ministers and Central Bank Governors meeting at the Capital hotel, Zimbali in Durban on July 18, 2025.
JOHANNESBURG - South Africa has been removed from the European Union’s high-risk list.
This follows the delisting of South Africa from the FATF’s greylist (“list of countries under increased monitoring”) and the UK’s list of countries in which there is a high risk for money-laundering and terror financing.
The delisting of South Africa will help ease banking and trade restrictions.
South Africa was added to the list in early 2023.
The decision to remove South Africa (and other African countries) from the European Union list will take effect on 29 January 2026.
National Treasury also welcomes the removal of five other African countries (Burkina Faso, Mali, Mozambique, Nigeria and Tanzania) from the EU List, following their removal from the FATF greylist in 2025.
"It should be noted that the removal of legislative obligations on EU financial institutions to conduct enhanced due diligence on South African-related transactions does not compel any financial institutions to rescind their risk assessment policies towards South Africa but allows willing EU financial institutions to adjust their risk assessment policies as they see fit," Treasury said in a statement.
"National Treasury notes that removal from the FATF and EU lists of high-risk jurisdictions does not mean that all South Africa’s challenges in implementing its AML/CFT system have been resolved, and recognises that much work still needs to be done to strengthen deficiencies in the prevention, identification, investigation and prosecution of money laundering and terrorism
financing."
National Treasury also said that the country will be entering a new round of evaluation by FATF in the coming months, with a final report scheduled to be presented to the FATF plenary in October 2027.
"Preparation hasbegun in earnest, incorporating the lessons learnt and experience gained during the process to exit FATF greylisting," Treasury concluded.