SA's greylisting a lesson for govt to operate as a whole, says Godongwana
Since South African was greylisted in February 2023, the government has been under the whip to tick off 22 action items to prove it’s got a grip on the prevention of money laundering and anti-terrorism financing.
Finance Minister Enoch Godongwana addressing the IEC's symposium on political party funding in Durban on 19 June 2025. Picture: IEC
CAPE TOWN - Finance Minister Enoch Godongwana says government has learnt valuable lessons from being greylisted by the global anti-corruption watchdog, the Financial Action Task Force.
This includes increased oversight on whether money guised as political party donations is being used for terrorism activities.
Addressing a symposium on political funding in Durban on Thursday, Godongwana said being greylisted had been a good challenge for government.
Government’s investment and trade prospects were said to have been severely dented when it was greylisted by the FATF in February 2023.
Since then, the government has been under the whip to tick off 22 action items to prove it’s got a grip on the prevention of money laundering and anti-terrorism financing.
The country was removed from the notorious FATF list last week, after introducing new legislation and tightening its financial controls.
Godongwana said it was the first time an omnibus bill was tabled, that cut across government departments.
“It was a positive development in that sense, in that it taught us how to operate and work as government, as a whole.”
Godongwana says he was being alerted by the United States every six months about South African bank accounts being sanctioned on suspicion of financing terrorist activities.