Namibia: Namibia is set to exit the Financial Action Task Force (FATF) grey list after successfully addressing all 13 weaknesses in its anti-money laundering and counter-financing of terrorism (AML/CFT) system.
According to Namibia Press Agency, the Financial Intelligence Centre (FIC) in a media release on Monday said the decision follows the FATF plenary meeting held from 09 to 13 February 2026 in Mexico. The FATF found that Namibia has substantially completed its action plan and will now undergo an on-site assessment to verify the reforms.
'The FATF accepted and made the initial determination that Namibia has substantially completed its action plan that contained the 13 strategic deficiencies and that the country warrants an on-site assessment to verify the implementation of AML/CFT reforms,' said the statement issued by FIC Director Bryan Eiseb.
Namibia was greylisted by the Financial Action Task Force in February 2024 due to gaps in its AML/CFT framework. At the time, the government committed to correcting all deficiencies within the agreed deadlines.
The FIC said the country has strengthened its AML/CFT supervision by enhancing staff and resources, conducting inspections and applying sanctions for breaches. It has also ensured that financial institutions and other designated businesses apply enhanced due diligence measures and comply with targeted financial sanctions for terrorism financing. In addition, the filing of beneficial ownership information has increased, and remedial actions have been applied where necessary.
'The reforms implemented show our commitment to a stronger financial system and to global standards on transparency and accountability,' it added.
The FIC added that authorities have improved cooperation with law enforcement agencies to integrate financial intelligence into investigations, and the operational capacity of relevant authorities has been strengthened to investigate and prosecute money laundering and terrorism financing cases. The amended National Counter Terrorism Strategy has also been approved.
The FIC said Namibia has now remediated all 13 deficiencies ahead of the May 2026 deadline and is coordinating with national stakeholders to prepare for the on-site assessment by the Africa Joint Group scheduled for April 2026. The results of the assessment will be presented at the next FATF plenary meeting in June 2026.
'The political and institutional support shows the government's commitment to strengthen our AML/CFT framework and contribute to global efforts to fight financial crime, money laundering, and corruption,' it concluded.