Finance Minister Enoch Godongwana has coordinated reforms across law enforcement, financial regulation, and prosecutorial bodies to address FATF concerns.
Image: GCIS
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Asian markets retreat as US weighs new trade curbs on China
Asian stocks fell for a second day on Thursday as lacklustre earnings from tech megacaps deepened a selloff on Wall Street, while U.S. sanctions against Russia and possible new export controls on China revived geopolitical worries. Oil prices surged 3% after the U.S. imposed sanctions on major Russian companies Rosneft and Lukoil over the Ukraine war. MSCI's broadest index of Asia-Pacific shares outside Japan was last off 0.4%, while Japan's Nikkei 225 sank 1.5%.
Ramaphosa visits Vietnam in a push to deepen economic ties
President Cyril Ramaphosa is set to touch down in the Vietnamese capital on Thursday for a State Visit that promises to cement South Africa’s engagement with Southeast Asia. International Relations and Cooperation Minister, Ronald Lamola, described the trip as a pivotal moment to deepen cooperation between the two countries. “We now look to build on the bilateral relations towards economic trade, political cooperation and also skills exchange,” the Minister explained. He added that the engagements will be on various phases of exchange between small businesses, agriculture, and various other issues of trade, which will incorporate issues of electric vehicles, skills exchange, commodities, mining, agriculture, and research and development.
Will South Africa be removed from the FATF grey list?
South Africa is awaiting a key decision from the Financial Action Task Force (FATF) on whether it will be removed from the global body’s grey list. The decision will be made at the FATF’s October 2025 plenary meeting, where South Africa’s reforms will be assessed. The fourth FATF Plenary under the Mexican Presidency of Elisa de Anda Madrazo will take place from 22 – 24 October 2025, concluding FATF Week, which begins on 20 October 2025. Analysts, including Investec strategist Annabel Bishop, are cautiously optimistic that South Africa will be removed from the grey list, citing substantial progress in meeting FATF’s action plan. The National Treasury, led by Finance Minister Enoch Godongwana, has coordinated reforms across law enforcement, financial regulation, and prosecutorial bodies to address FATF concerns. Being grey-listed has carried real costs, deterring foreign investment, raising compliance burdens, and undermining South Africa’s financial reputation.