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Namibia Expected to Exit EU High-Risk Money Laundering List by End of 2026
The European Union plans to remove Namibia from its list of high-risk jurisdictions for money laundering and terrorist financing. The step follows Namibia's completion of required reforms. Domestic vulnerabilities remain according to the country's Financial Intelligence Centre.
Jul 8, 7:59 AM·1m read1 source
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Namibia is expected to be removed from the European Union's list of high-risk jurisdictions for money laundering and terrorist financing by the end of 2026. AllAfrica reported the development citing statements from EU ambassador to Namibia Ana-Beatriz Martins.
Martins said an internal legislative process is already underway to remove Namibia from the EU's own anti-money laundering and counterterrorist financing list.
The move follows the Financial Action Task Force's decision to remove Namibia after the country completed reforms aimed at strengthening its framework. Namibia's continued presence on the EU list stems from the bloc's 2025 annual update, which was based on the FATF's 2024 decision to place the country under increased monitoring.
Martins stated the EU will support Namibia through the remaining legislative steps of the delisting process.
Being listed as a high-risk jurisdiction does not impose sanctions or restrictions on trade, investment or development cooperation. EU financial institutions are required to conduct enhanced customer due diligence on transactions involving listed countries. The Financial Intelligence Centre warned that risks remain within Namibia's financial system.
Its latest annual report identifies close corporations as the legal entities most vulnerable to abuse for money laundering and terrorist financing. About 85 percent of close corporations reported to the FIC are locally owned, while 76 percent of directors or beneficiaries are Namibian nationals. The FIC recorded 15,226 suspicious transaction reports during 2025.
