Namibia is expected to exit the Financial Action Task Force (FATF) grey list by May 2026, after remediating most of the strategic deficiencies identified in its anti-money laundering and counter-terrorism financing framework, the Financial Intelligence Centre (FIC) has said.
The FIC said FATF adopted Namibia’s third Progress Report at its Plenary session held this week in Paris, France, praising the country for completing the majority of its corrective actions within the agreed timelines, a national effort led by Cabinet.
According to the FIC, Namibia submitted its third compulsory Progress Report to the FATF Africa Joint Group in July 2025, and the report was formally adopted by the FATF Plenary on 24 October 2025.
“Namibia was lauded for the strong political commitment and expeditious manner in which the country has so far remediated 11 out of the 13 strategic deficiencies set out in our Action Plan,” the FIC said.
The FIC noted that when Namibia was grey-listed on 23 February 2024, the FATF identified 13 strategic deficiencies in its Action Plan. The country has now resolved 11, while the remaining two, relating to a sustained increase in money-laundering investigations and prosecutions and the identification and investigation of terrorist financing activities , have been partially addressed.
“The significant progress in remediating the 11 strategic deficiencies has all been achieved within the set timelines contained in the Action Plan or, in some cases, even before such timelines,” the FIC said.
The FIC added that the progress demonstrates Namibia’s strong political commitment and alignment with regional and continental efforts to strengthen Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) frameworks and curb financial crimes and illicit financial flows.
According to the FIC, the ongoing reforms are also consistent with the objectives of the Sixth National Development Plan (NDP6), which aims to reduce illicit financial flows from 9% of GDP in 2024 to 5% by 2030 under the Economic Growth, Transformation and Resilience pillar.
“The efforts and progress made in relation to the remediation of the Action Plan and the strengthening of our national AML framework will lay a firm foundation as part of the collective strategies to achieve this target,” the FIC said.
The FIC further noted that the National Coordination Committee, comprising various Offices, Ministries and Agencies, remains committed to ensuring that Namibia exits the FATF grey list within the set timeframe.
