Namibia Submits First Report to Exit FATF Grey List. Namibia has taken a critical step toward improving its financial compliance by submitting its first mandatory report to the Financial Action Task Force (FATF) Joint Group for Africa. This submission is part of the country’s commitment to addressing weaknesses in combating money laundering, terrorism financing, and the proliferation of weapons.
The report was presented during a high-level FATF meeting held in Windhoek from January 6 to 11, 2025. The gathering served as a platform for Namibia to demonstrate progress in meeting global financial standards and to engage directly with assessors to clarify outstanding concerns
Bryan Eiseb, the Director of the Financial Intelligence Centre (FIC), explained that the report outlines Namibia’s efforts to resolve issues identified in its action plan. “The assessors will now analyze the report to determine how much progress we’ve made in addressing the identified gaps,” he said.
The FATF will review the Joint Group’s findings in February 2025 to assess Namibia’s overall progress.The Windhoek event attracted representatives from 11 African countries, international partners, and regional organizations like the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG). Namibia’s delegation included officials from various agencies, including the Financial Intelligence Centre, Namibian Police, Anti-Corruption Commission, and Bank of Namibia.
Eiseb noted that hosting the meeting reflects Namibia’s dedication to improving its financial systems. “This demonstrates our resolve to align with international regulations and strengthen our anti-money laundering and counter-terrorism efforts,” he stated.
Namibia was added to the FATF grey list in early 2024 due to shortcomings in its financial systems. Since then, the country has been required to submit progress reports every six months, with the final report due in May 2026.
Despite the timeline, Eiseb expressed optimism about Namibia’s ability to resolve the remaining 13 issues ahead of schedule, provided it continues to effectively implement its action plan. “If we can show substantial progress, there’s a good chance we could exit the grey list earlier than anticipated,” he added.