Namibia makes progress after greylisting

Namibia has submitted a report on strategies to address the issues the country was greylisted for in February.

The Financial Action Task Force greylisted the country, with 72 recommended measures to be taken in a year.

“The country was found to have effectively addressed 59 recommended actions, while the remaining 13 required improvement,” says Bryan Eiseb, the director of the Financial Intelligence Centre.

He says despite the greylisting, investor perceptions of Namibia remains broadly positive.

“Given that Namibia’s currency is pegged to the South African rand, the negative effects on the exchange rate associated with the greylisting appears minimal,” he says.