‘SA's removal from greylist will avoid negative effects on economy’ - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 31/7/2024 12:43 PM
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Reserve Bank Governor Lesetja Kganyago addresses the central bank's AGM in Pretoria.

Reserve Bank Governor Lesetja Kganyago has reiterated the importance of removing the country from the greylist, in order to avoid long-term negative effects on the economy.Kganyago says the bank’s Prudential Authority and the Financial Surveillance department are leading efforts to achieve this goal.

He says of the 22 action items South Africa must address to improve its anti-money laundering and counter-terrorism financing, only 8 items have been addressed.Kganyago explains, “Although foreign counterparties have been applying greater scrutiny for our domestic institutions as a result of the fatal greylisting. The PA has found no immediate negative impact on correspondent banking relationships.

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