South Africa’s FATF delisting signals a new era of trust, growth and legacy
South Africa’s FATF delisting signals a new era of trust, growth and legacy
In June 2023, South Africa was added to the grey list by the Financial Action Task Force (FATF) an international body that monitors efforts to combat money laundering and terrorist financing. The listing raised concerns across financial markets, businesses and communities. It signalled that our systems needed strengthening, and that rebuilding trust was non-negotiable.
The impact was immediate. International transactions slowed. Costs rose. Trade partners grew cautious. Investors hesitated. It was a wake-up call: without reform, South Africa’s reputation and economic future were at risk.
Now, after two years of coordinated action, South Africa has been removed from the grey list and that matters. It’s a moment of renewal, not just for financial institutions, but for the country’s global image.
This milestone is more than a regulatory win, it’s a signal that Brand South Africa is regaining its footing. It shows that we can rise to the challenge, align across sectors, and lead with integrity. And as trust is restored, new opportunities open for business, for communities, and for every South African who believes in the power of progress.
Reputation matters and we must protect it
Reputation is one of our most valuable national assets. It shapes how the world sees us, how investors engage with us, and how citizens experience the economy. This delisting is a clear example of how South Africa is restoring its reputation both locally and internationally through action, accountability, and reform.
But reputation isn’t built overnight. We must work tirelessly to protect it by doing what is right, consistently and collectively. That means embedding integrity into every decision, every partnership, and every policy not just when the world is watching, but always.
Trust restored, opportunities unlocked
The National Treasury called the delisting “an important milestone that reflects the rebuilding of the rule of law.” But it’s more than that. It’s about credibility. It’s about transparency. And it’s about showing the world and ourselves that we’re ready to operate with confidence on the global stage.
For businesses, the impact is immediate:
- Investor confidence rises: Global partners can re-engage, knowing our systems are sound.
- Trade flows more freely: Fewer restrictions mean faster, more cost-effective transactions.
- Partnerships deepen: Long-term collaborations become more viable and attractive.
And for communities, the ripple effects are just as real:
- Jobs are created: As businesses grow, so do employment opportunities.
- Economic inclusion expands SMEs and startups gain access to global markets.
- Public trust grows: Citizens see that reform is possible and that it matters.
Collaboration at the heart of progress
This achievement didn’t happen in isolation. It was the result of coordinated action across government, regulators, and the private sector.
SARS strengthened enforcement and transparency. The Reserve Bank and Financial Intelligence Centre embedded reforms. Businesses stepped up, aligning internal controls and embracing global standards.
This is what partnership looks like in practice and its proof that when we work together, we move forward.
The way forward: sustaining momentum
Delisting is a win but it’s also a responsibility. We can’t afford to lose the momentum we’ve built.
Now is the time for leaders to:
- Champion strong governance and compliance.
- Invest in partnerships rooted in trust.
- Educate teams, clients, and communities on the value of a stable financial system.
This is how we protect the gains we’ve made and how we ensure that South Africa’s financial legacy is one of integrity, inclusion, and innovation.
A legacy worth building
South Africa’s FATF delisting is a story of resilience, reform, and renewal. It reminds us that:
- Trust can be rebuilt even after setbacks.
- Partnerships unlock opportunity across borders and sectors.
- Progress is shared when it’s built on integrity.
This is more than a regulatory update. It’s a call to action to build a stronger, more inclusive, and more prosperous South Africa.
Let’s seize this moment. Let’s lead with purpose. And let’s show the world what’s possible when trust becomes our foundation and legacy becomes our goal.