Business Leadership SA says the country cannot remain on the grey list for long

VAAL TRIANGLE - Business Leadership South Africa CEO Busi Mavuso says should South Africa remain on the grey list for an extended period, reputational effects will lead to a reduced appetite for investment exposure to the country. The Financial Action Task Force placed the country on the grey list, as it found South Africa did not have sufficient mechanisms in place to monitor and combat money laundering, and terrorist financing activities. Mavuso says the country must take heart that Mauritius was able to get itself off the grey list in less than two years after implementing the necessary reforms. PHOTO: (FATF)