Staff Writer
Namibia has recorded continued progress in strengthening its defences against money laundering and financial crime, according to the 2025 Basel Anti-Money Laundering (AML) and Financial Crime Risk Index, Finance Intelligence Centre (FIC) director Bryan Eiseb has said.
The country’s overall Basel AML Index score improved to 4.78 in 2025, from 4.89 in 2024 and 5.09 in 2023.
The index uses a scale from 0 to 10, where lower scores indicate lower risk.
Namibia is ranked as the fifth best-performing country in Africa.
This places it among countries with the lowest exposure to money laundering and financial crime risks on the continent.
The Basel AML Index is an independent, research-based assessment of national vulnerabilities to money laundering and related financial crimes.
It evaluates legal and institutional frameworks, corruption risks, financial transparency, and the effectiveness of anti-money laundering and counter-terrorism financing (AML/CFT) measures.
Policymakers use the index to strengthen national financial crime prevention systems.
According to the Financial Intelligence Centre (FIC), Namibia’s improved performance reflects ongoing efforts to strengthen the integrity of its financial system.
The progress stems from coordinated actions by supervisory authorities, law enforcement agencies, accountable and reporting institutions and policymakers to improve AML/CFT compliance, coordination and enforcement.
The FIC said reforms across the national AML/CFT framework are producing measurable and internationally recognised results.
The gains also support Namibia’s National Development Plan 6 objectives, including the Pillar 1 target to reduce illicit financial flows from 9% of gross domestic product in 2024 to 5% by 2030.
The FIC said continued vigilance remains necessary. Priority areas include improving AML/CFT effectiveness across all sectors, strengthening beneficial ownership transparency, and conducting a comprehensive national risk assessment in 2026.
On 10 June, the European Commission updated the European Union list of high-risk jurisdictions for anti-money laundering and counter-terrorism financing frameworks.
Namibia was listed alongside Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Nepal and Venezuela.
The decision follows the Financial Action Task Force’s deliberations at its February 2024 plenary meeting, which placed Namibia on the FATF grey list due to identified strategic deficiencies.
The European Union is legally required to consider listing any FATF-listed country.
The European Commission’s decision is subject to scrutiny by the European Parliament and the European Council of Ministers within one month.
If approved, the list will take effect 20 days after publication in the EU Official Journal.
Once in force, banks and financial institutions in the EU27 will have to apply enhanced due diligence measures to financial transactions involving Namibia.
The listing does not amount to sanctions and does not block Namibia’s access to EU trade, investment or cooperation funding. It is a procedural requirement aimed at financial vigilance.
Namibia remains a valued partner of the European Union. To be removed from the list, the country must show sustained progress in implementing the FATF Action Plan to strengthen the effectiveness of its AML/CFT regime.
After Namibia exits the FATF grey list, the European Commission will assess the reforms under EU-specific delisting rules.
Caption
Namibia’s overall Basel AML Index score improved to 4.78 in 2025, down from 4.89 in 2024 and 5.09 in 2023.
- Photo: Contributed
