TIRI MASAWI
The Financial Intelligence Centre (FIC) says the Financial Action Task Force (FATF) will soon remove Namibia from the financial grey list following an on-site assessment.
Namibia was grey-listed in February 2024 for failing to meet international anti-money laundering and counter-terrorism financing (AML/CFT) standards. In response, the country implemented a series of regulations and legal frameworks to address 13 strategic deficiencies identified by the FATF. The target deadline to remedy these deficiencies was 13 May 2026.
The Director of the Financial Intelligence Centre, Bryan Eiseb, said in a statement on Monday that Namibia’s political and institutional commitments yielded positive results at the FATF Plenary meeting held from 9–13 February 2026 in Mexico.
“During its Plenary meeting, the FATF accepted and made the initial determination that Namibia has substantially completed its action plan addressing the 13 strategic deficiencies. The country now warrants an on-site assessment to verify the implementation of AML/CFT framework reforms,” Eiseb said.
According to Eiseb, the FATF has noted Namibia’s progress in strengthening its AML/CFT framework. He explained that Namibia will undergo risk-based supervision by enhancing human and resource capacities, conducting offsite and onsite inspections informed by supervisory risk assessment tools, and applying effective, proportionate, and dissuasive sanctions for breaches of AML/CFT obligations.
Namibia has also strengthened preventive measures, including inspections and outreach, to ensure financial institutions and other designated businesses implement enhanced due diligence and comply with targeted financial sanctions related to terrorism and proliferation financing without delay. The country has increased the filing of beneficial ownership information for legal persons and arrangements.
Eiseb said Namibia has provided the Financial Intelligence Centre with adequate human and financial resources, as well as targeted training, to improve operational and strategic analysis. The country has also enhanced cooperation between the FIC and law enforcement agencies to better integrate financial intelligence into investigations.
“The Financial Intelligence Centre is now coordinating with all key national stakeholders to ensure the country is ready for the on-site assessment, which is scheduled for April 2026,” he said.
The results of the on-site assessment will be presented at the next FATF Plenary in June 2026.
“The FIC acknowledges the support of Namibia and all stakeholders throughout this process. The political support demonstrates the government’s commitment to strengthening our domestic AML/CFT framework, contributing to global efforts to eradicate financial crime, money laundering, corruption, and illicit financial flows,” Eiseb added.
Other areas where Namibia has made progress include enhancing the operational capabilities of authorities involved in money laundering and terrorism financing investigations and prosecutions by providing adequate resources and targeted training. The country has also demonstrated that its law enforcement agencies are capable of effectively investigating and prosecuting ML/TF cases and has approved the amended National Counter-Terrorism Strategy.
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