BLSA releases report on negative economic impact of SA's Grey listing - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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South Africa currently risks being Grey-listed next year in February if it fails to meet recommendations listed by the International Financial Action Task Force.

South African bank notes featuring images of former South African President Nelson Mandela are displayed next to the American dollar notes in this photo illustration in Johannesburg.South African bank notes featuring images of former South African President Nelson Mandela are displayed next to the American dollar notes in this photo illustration in Johannesburg.

Financial firms around the world including banks will increase their due diligence to any South African client. This means there will be extensive processes for assessing the source of funds. As a result of the increased compliance, some firms may elect not to do business with any South African company or individual. It will reduce investment in the country.

The BLSA report provides clear guidance on what the government should do to ensure Greylisting does not cause long-term damage to the economy.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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I really wish it could be Gray-listed so that you will open your eyes. Everything went wrong the day we were told that we have freedom, not economy, not our land and minerals. the worst part is that we didn't interfered when obama and his nato minions chose to kill Gadaffi.

ProudlyMsTee Everyone was talking from their comfort zone when operationdudula was addressing the issue of illegal immigrants running all this kind of businesses illegal in south Africa not aware what are they doing with the profits. Here it goes operationdudula saw this coming.

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