South African Central Bank Sees Little Risk of Ratings Cut After Gray Listing
- FATF has given the country until 2025 to address concerns
- Gray listing was instituted after years of endemic corruption
Fundi Tshazibana
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s inclusion on a global watchdog’s dirty-money watchlist is unlikely to have an immediate impact on its credit ratings, according to Fundi Tshazibana, a deputy central bank governor.
The Paris-based Financial Action Task Force put South Africa on its so-called gray list in February because of shortcomings in tackling illicit financial flows and terrorism financing, and gave it until Jan. 31, 2025 to address the deficiencies. Among the measures it must take is to step up corruption investigations and prosecutions, and ensure the authorities have timeous access to accurate and up-to-date beneficial ownership information.