The African National Congress (ANC) views the European Union’s (EU’s) removal of South Africa from its list of high‑risk third country jurisdictions as a milestone that forms part of a broader journey of renewal.

South Africa was added to the EU list in August 2023 as an automatic consequence of its greylisting by the Financial Action Task Force (FATF).

The EU listing looks at countries with strategic deficiencies in their systems for combating money laundering and terrorism financing, to protect the EU’s internal market.

South Africa’s removal from the list follows its delisting by the FATF in October 2025, after comprehensive reforms to combat money laundering and terrorist financing.

ANC national spokesperson Mahlengi Bhengu said this milestone reaffirmed the importance of State capacity, professionalism and ethical governance to advance the vision of the Freedom Charter: that the people shall govern, and the country’s wealth shall be shared.

She said the removal of South Africa from the EU’s high‑risk list was a “technical victory and a political triumph,” underscoring the link between sound governance and national dignity.

The development marked a significant victory for South Africa, she said, and reflected the progress made in strengthening financial governance and protecting the integrity of the global financial system.

Bhengu noted important lessons for sovereignty in the modern era, such as political independence and the ability to manage financial systems responsibly.

“A country that protects its financial institutions from abuse strengthens its capacity to deliver services, build trust with international partners, and ensure that the wealth of the nation serves the people,” she added.

Bhengu said the party would ensure South Africa remained a respected partner in the global economy.

“This moment inspires confidence in the nation’s future and demonstrates that collective effort, guided by principled leadership, can overcome obstacles that stifle growth and progress,” she said.

Meanwhile, National Treasury pointed out that South Africa’s removal from the FATF and EU lists of high-risk jurisdictions does not mean that all South Africa’s challenges in implementing its AML/CFT system have been resolved, and it recognises that much work still needs to be done to strengthen deficiencies in the prevention, identification, investigation and prosecution of money laundering and terrorism financing.

“It should be noted that the removal of legislative obligations on EU financial institutions to conduct enhanced due diligence on South African-related transactions does not compel any financial institutions to rescind their risk assessment policies towards South Africa but allows willing EU financial institutions to adjust their risk assessment policies as they see fit,” said Treasury.

National Treasury highlighted that South Africa would be entering a new round of evaluation by FATF in the coming months, with a final report scheduled to be presented to the FATF plenary in October 2027.

It said preparation had begun, incorporating the lessons learnt and experience gained during the process to exit FATF greylisting.