Rédaction Africa Links 24 with Shania Lazarus
Published on 2024-02-23 14:19:05
The Financial Action Task Force (FATF) has recently greylisted Namibia due to concerns about its effectiveness in combating money laundering (ML), terrorist financing (TF), and proliferation financing (PF). This decision was made on Friday after the country was identified as falling short in key areas, prompting increased monitoring by the Bank of Namibia governor, Johannes !Gawaxab.
Despite significant progress, Namibia was found lacking in ML/TF/PF effectiveness in six out of the 11 immediate outcomes assessed by the FATF. !Gawaxab stated that Namibia has taken steps to address technical compliance shortcomings by amending existing laws and introducing new legislation.
The implications of the FATF greylisting on Namibia are far-reaching, potentially affecting foreign direct investment, trade, and financial transactions. The International Monetary Fund has noted that countries listed on the FATF greylist may experience negative impacts of up to 6% of their gross domestic product. Additionally, entities engaging with Namibia may be required to conduct enhanced due diligence, leading to increased costs and scrutiny.
In light of these developments, it is crucial for stakeholders to stay informed with credible journalism. The Namibian offers in-depth reporting and opinions for N$85 a month, providing valuable insights into the current situation in Namibia. Investing in journalism is investing in democracy, and subscribing to The Namibian can help support the dissemination of accurate information.
By subscribing to The Namibian, readers can access a wealth of news and analysis, ensuring they are well-informed about the latest developments in the country. Through credible journalism, readers can gain a deeper understanding of the issues at hand and contribute to the transparency and accountability of decision-making processes.
As Namibia navigates the challenges posed by the FATF greylisting, it is essential for all stakeholders to work together towards strengthening the country’s anti-money laundering and counter-terrorism financing frameworks. By supporting credible journalism and staying informed, individuals can play a role in promoting good governance and accountability in Namibia.
Investing in journalism is not just about staying informed; it is about actively participating in the democratic process and contributing to a transparent and accountable society. Subscribe to The Namibian today and be a part of shaping the future of Namibia through access to reliable and unbiased news and analysis.
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