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BLSA warns South Africa risks returning to FATF greylist

Published

Business Leadership South Africa's latest reform tracker shows the corruption reform score unchanged at 51.2 in the July-September quarter. The overall reform completion index rose to 72.5, but the group and research firm Krutham still see a significant risk of re-listing.

The overall reform completion index rose to 72.5 from 71.3 in the previous quarter. One report said this is the highest score since monitoring began in March 2024. Krutham, a research consultancy, compiles the tracker.

Stuart Theobald, executive chair of Krutham, told a media briefing: "We are at risk of re-entering that greylist. There is significant risk." BLSA said weaknesses in law enforcement could count against South Africa in the Financial Action Task Force evaluation.

BLSA chief executive Busi Mavuso said weaknesses in the criminal justice system remain. National Treasury did not respond to a request for comment. Treasury adviser Ismail Momoniat led the campaign to exit the greylist in October 2025.

South Africa spent more than two years on the greylist. Business groups said at the time that the listing deterred foreign investment.

Key facts

Who
Business Leadership South Africa (business lobby group that published the BLSA Reform Tracker); Busi Mavuso (BLSA CEO); Stuart Theobald (executive chair of research consultancy Krutham, which compiles the tracker); Ismail Momoniat (National Treasury adviser who led South Africa's campaign to exit the greylist…)
What
BLSA's quarterly Reform Tracker, presented in a briefing, found the corruption reform score unchanged at 51.2 in the July-September quarter, while the overall reform completion index rose to 72.5 from 71.3. BLSA and Krutham warned of a significant risk of re-listing by the Financial Action Task Force.
When
28 October 2026
Where
South Africa
Status
Reported

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