EU Adds Namibia to High-Risk List for Money Laundering and Terror Financing
In mid-June 2025, the European Commission updated its list of “high-risk” jurisdictions for anti-money-laundering (AML) and counter-terrorism-financing (CFT) purposes, including Namibia alongside Kenya, Angola, and Côte d’Ivoire. This update follows the Financial Action Task Force’s (FATF) decision to grey-list Namibia earlier this year. Once the European Parliament and Council approve the move—expected within weeks—EU banks and financial institutions will need to implement enhanced due-diligence obligations on all transactions linked to Namibian entities.
Key Implications for Namibia
• Heightened Compliance: Approximately three weeks after publication in the EU’s Official Journal, European financial actors are required to apply stricter customer checks, transaction monitoring, and reporting requirements for funds moving to or from Namibia.
• No Trade or Investment Ban: The designation is procedural and does not prevent Namibia’s access to EU markets or development programs; it reflects the EU's legal requirement to align with FATF classifications.
• Delisting Criteria: Namibia will remain on the list until it completes a jointly agreed Action Plan with FATF, demonstrating effective AML/CFT reforms. The Commission has indicated that removal will be considered once FATF confirms implementation.
EU–Namibia Technical Partnership
The EU has concurrently offered expanded technical support. In Windhoek, the EU ambassador confirmed ongoing collaboration with Namibian authorities, including the Financial Intelligence Centre, customs, and law enforcement, to strengthen legal frameworks, risk-assessment methodologies, and enforcement capacity. Earlier in 2025, Namibia formally requested FATF-aligned assistance; a joint task force has conducted gap analyses and begun implementing training on suspicious-transaction reporting and customer-identification protocols.
Broader Context
While the high-risk designation may increase compliance costs, slow foreign capital flows, and affect Namibia’s financial reputation, it highlights the global significance of AML/CFT standards. With substantial EU support and a defined Action Plan, Namibia can improve its financial safeguards, enhance transparency, and work towards its removal from the list, aiming to restore confidence among international partners.
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