• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Beneficial ownership focus of new EU-Namibia anti-money laundering partnership

by editor
August 12, 2024
in Business & Economy
186
A A
5
SHARES
3.8k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The European Union (EU) says it will prioritise strengthening Namibia’s beneficial ownership reporting framework to enhance transparency and combat financial crime.

You might also like

Women now lead over 70% of Namibian SMEs

Namibia seeks stronger U.S. partnerships at Africa Business Summit

April inflation rises to 3.6%, driven by food and housing costs

This comes as Namibia was placed on the Financial Action Task Force (FATF) grey list in February 2024 due to shortcomings in anti-money laundering, countering the financing of terrorism, and counter-proliferation financing standards.

The EU-Namibia collaboration was launched with a scoping mission workshop where key government agencies and stakeholders convened to identify specific needs and obstacles in implementing effective beneficial ownership measures.

“The week starts off with scoping the needs, i.e., identifying jointly the specific needs of entities and the structural deficiencies pointed out by the FATF, so as to develop a custom-made work plan. The purpose of the scoping mission is to listen to your concerns and needs for specific responses and challenges in order to make our assistance as relevant and effective as possible and based on national priorities,” said EU Ambassador to Namibia Ana Beatriz Martins.

The insights gathered will inform a tailored work plan designed to align Namibia’s regulations with international standards.

She further explained that the primary objective of the partnership is to support Namibia’s efforts to exit the Financial Action Task Force’s grey list.

She said that by enhancing its beneficial ownership reporting, Namibia can fortify its financial system, increase transparency, and foster a more attractive investment climate.

“The ultimate goal of this workshop is to see Namibia exit the Financial Action Task Force’s Grey List. Also to strengthen NA’s capacity in financial systems, transparency, and accountability.”

She further explained that the EU Global Facility on anti-money laundering and countering the financing of terrorism is providing technical expertise to facilitate this initiative.

The initiative is offering expertise to 20 representatives from the Ministry of Justice, Bank of Namibia, Business and Intellectual Property Authority, Master of the High Court, Financial Intelligence Centre, Namibian Financial Institutions Supervisory Authority, Namibia Revenue Agency, Anti-Corruption Commission of Namibia, Central Public Procurement Board, Namibian Police, Office of the Prosecutor-General, and Institute for Chartered Accountants.

author avatar
editor
See Full Bio
Tags: africa newseconomyEUEuropean UnionfinanceFinancial Action Task Forcenamibianamibia newsterrorism
Share90Tweet57Share16
Previous Post

BoN warns of deeper contraction in agriculture, forestry, fishing sectors for 2024

Next Post

Namibia’s carbon and biodiversity credit market remains untapped

Recommended For You

Women now lead over 70% of Namibian SMEs

by reporter
July 8, 2025
0
Women now lead over 70% of Namibian SMEs

More than 70% of Namibia’s small and medium enterprises (SMEs) are led by women, according to First National Bank (FNB) Namibia, highlighting a shift towards more inclusive entrepreneurship...

Read moreDetails

Namibia seeks stronger U.S. partnerships at Africa Business Summit

by reporter
June 23, 2025
0
Namibia seeks stronger U.S. partnerships at Africa Business Summit

Namibia will participate in the 2025 U.S.-Africa Business Summit, with the country’s attendance aimed at deepening economic ties with the United States and promoting investment and trade opportunities....

Read moreDetails

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails
Next Post
Namibia’s carbon and biodiversity credit market remains untapped

Namibia’s carbon and biodiversity credit market remains untapped

Related News

Namibia’s 2025/26 budget outlook: Risks, realities, and market sentiment

Namibia’s 2025/26 budget outlook: Risks, realities, and market sentiment

March 28, 2025
Tuwilika

The role of corporate Namibia in tackling SGBV

December 9, 2024
Promoting support systems for employees with serious illnesses

Promoting support systems for employees with serious illnesses

July 16, 2024

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.