South Africa News

Government determined to address FATF concerns

President Cyril Ramaphosa says the government is determined to get off the ‘greylist’ as quickly as possible.

The Financial Action Task Force penalized South Africa for falling short of standards to combat money laundering and other serious financial crimes.

This means the country is under increased monitoring, otherwise known as ‘greylisting’.

Ramaphosa says the development is concerning but less dire than some suggest, and they’ve worked with the FATF to address the 67 recommendations made by the global body.

Experts and financial institutions say the ‘greylisting’ will impact capital flows into the country.

This will mean less foreign direct investment and possible economic penalties.

Source: eNCA

In other news – Jub Jub FIRED from Uyajola 9/9 – Here’s why

South African media personality, hip hop artist, and TV Host Jub Jub has been fired from his cushy Uyajola 9/9 job after a protracted dispute with his bosses over the foul language he allegedly used when addressing his female business partner.

Jub Jub

The publication can reveal that Moja Love, which airs the popular show, kicked Jub Jub to the curb a few days after he sent the channel a letter from his lawyer, Terrence Baloyi, from Baloyi-Ntsako Attorneys, demanding payment of his January salary. Learn More