Political analyst Levy Ndou says the Financial Action Task Force’s (FATF) removal of South Africa (SA) from its greylist is positive news for the economy.
The global financial crime watchdog announced the removal of SA from the list on Friday.
The move followed the country’s meeting of all 22 action items designed to improve its anti-money laundering and counter-terrorism financing systems.
Ndou says SA’s removal from the greylist also comes at a time when the High Court in Pretoria has ordered former President Jacob Zuma to repay nearly R29 million debt to the state for the legal costs it paid in his arms deal corruption case.
He says, “It talks to the ability to separate from personal and official activities by the former President Jacob Zuma. It also talks to the law in SA and emphasises that citizens are equal before the law. But what I am seeing is that this could be a long battle between Zuma and the state, but I think there is a way in which we are able to understand the basics of the law.”
–SABC–
