South Africa’s removal from the Financial Action Task Force greylist in October 2025 was widely welcomed as a key milestone for the country’s financial system and international reputation. However, for households already drowning in debt, the path to financial recovery remained uncertain.
The FATF confirmed that South Africa had addressed all 22 action items required to restore global compliance with anti money laundering and counter terrorist financing standards. The global watchdog noted “sustained progress in strengthening institutions and improving enforcement,” marking the end of almost three years of heightened monitoring and risk perception.
While the announcement boosted confidence across financial markets, experts cautioned that the real test would be whether struggling families experienced any meaningful improvement.
Neil Roets, CEO of Debt Rescue, said the removal restored credibility, but attention now needed to shift to what this meant for ordinary South Africans. “Greylisting might have sounded like an investment problem, but for consumers it became a cost of living problem,” he said.
“Businesses paid more to move money and trade internationally, and those costs filtered down to ordinary South Africans through higher prices and tighter credit. The people who could least afford it ended up carrying the heaviest burden.”