For Creamer Media in Johannesburg, I’m Thabi Shomolekae.

Making headlines: Ramaphosa welcomes S Africa’s grey list exit; Moody’s upbeat on Johannesburg’s finances despite political woes; And, Cameroon's Biya declared vote winner, opposition reports gunfire

Ramaphosa welcomes S Africa’s grey list exit

President Cyril Ramaphosa today said government has committed more spending to counter money-laundering and terrorism financing, as he welcomed South Africa’s exit from the Financial Action Task Force grey list.

He wrote in his weekly letter to the nation that exiting the grey list demonstrated that government’s anti-money laundering system is beginning to act against corruption and other financial crimes.

He said it lays the basis for further improvements.

It is a signal of government’s collective determination to ensure that the malfeasance of the past is well behind, he said.

Last week, the FATF announced that South Africa has exited the FATF grey list, following the conclusion of meetings of the FATF Plenary that took place in Paris, France.

Ramaphosa said the exit bodes well for the integrity and reputation of South Africa’s financial system, its status as an investment destination and for the economy.

Moody’s upbeat on Johannesburg’s finances despite political woes

Johannesburg received a vote of confidence from Moody’s Ratings despite a record of political dysfunction and wasted spending that’s prompted the national government to threaten to withdraw funding.

The city’s credit ratings reflect “its sound operating performance, moderate debt levels, and a large, diversified local economy, supported by prudent financial management and close monitoring of budget execution and cash flow,” Moody’s analysts wrote after a review of the city’s finances conducted last month.

“Over the years, the city has consistently maintained positive operating margins and moderate-to-low liquidity ratios,” the analysts said, while acknowledging that Johannesburg faces pressures from infrastructure backlogs and a growing population that have led to rising debt levels.

The Moody’s assessment — which didn’t constitute a rating action — seems at odds with the view of South Africa’s national government and business leaders. In August, Finance Minister Enoch Godongwana demanded an explanation for R24.4-billion of “unauthorised, irregular, fruitless and wasteful expenditure,” and warned the city risks losing government funding unless the money is recouped.

And, Cameroon's Biya declared vote winner, opposition reports gunfire

Cameroon's President Paul Biya was re-elected to an eighth term with 53.66% of the vote, official results showed today, raising the prospect of confrontations with supporters of the main opposition candidate who has claimed victory.

After the results were announced by the Constitutional Council, opposition challenger Issa Tchiroma Bakary wrote on Facebook that gunfire was being directed at civilians gathered outside his home in the northern city of Garoua.

Opposition protesters have clashed with security forces over the past week after partial results reported by local media showed Biya was on course to win the October 12 vote. The government rejected opposition accusations of irregularities.

Biya, 92, took office in 1982 and has held a tight grip on power ever since, doing away with the presidential term limit in 2008 and winning reelection by comfortable margins.

That’s a roundup of news making headlines today

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