The National Treasury announced the delisting on Tuesday, following the EU’s decision published on January 9, 2026, which takes effect on January 29, 2026. South Africa is removed alongside Burkina Faso, Mali, Mozambique, Nigeria, and Tanzania. This milestone follows South Africa’s exit from the Financial Action Task Force (FATF) greylist in October 2025 and the UK’s equivalent high-risk list.
Speaking during debate on the Adjustments Appropriation Bill in Parliament, Godongwana attributed the country’s prior greylisting and related challenges to the damage inflicted by state capture under former President Jacob Zuma’s administration.
“We are not in a fiscal crisis as somebody has said here. Fiscal consolidation is beginning to bear fruit,” Godongwana stated. He emphasized that Treasury is actively reducing national debt and borrowing costs to avoid burdening future generations, while highlighting progress in strengthening anti-money laundering and counter-terrorist financing legislation.
Godongwana noted the time lag in repairing the harm: “When damage is done, it’s got a time lag to repair that damage. It’s taken us the whole of the time and costing us votes due to the damage made under the Zuma years.”
The delisting is expected to ease banking restrictions, facilitate smoother trade, cross-border payments, and boost investor confidence in South Africa’s financial system.
Treasury welcomed the development as a sign of restored global credibility, following years of concerted reforms to address FATF-identified deficiencies.
Finance Minister Enoch Godongwana has dismissed suggestions that South Africa is in a fiscal crisis, crediting ongoing reforms for the country’s removal from the European Union’s list of high-risk third country jurisdictions for money laundering and terrorist financing risks.
The National Treasury announced the delisting on Tuesday, following the EU’s decision published on January 9, 2026, which takes effect on January 29, 2026. South Africa is removed alongside Burkina Faso, Mali, Mozambique, Nigeria, and Tanzania. This milestone follows South Africa’s exit from the Financial Action Task Force (FATF) greylist in October 2025 and the UK’s equivalent high-risk list.
Speaking during debate on the Adjustments Appropriation Bill in Parliament, Godongwana attributed the country’s prior greylisting and related challenges to the damage inflicted by state capture under former President Jacob Zuma’s administration.
“We are not in a fiscal crisis as somebody has said here. Fiscal consolidation is beginning to bear fruit,” Godongwana stated. He emphasized that Treasury is actively reducing national debt and borrowing costs to avoid burdening future generations, while highlighting progress in strengthening anti-money laundering and counter-terrorist financing legislation.
Godongwana noted the time lag in repairing the harm: “When damage is done, it’s got a time lag to repair that damage. It’s taken us the whole of the time and costing us votes due to the damage made under the Zuma years.”
The delisting is expected to ease banking restrictions, facilitate smoother trade, cross-border payments, and boost investor confidence in South Africa’s financial system.
Treasury welcomed the development as a sign of restored global credibility, following years of concerted reforms to address FATF-identified deficiencies.