Greylist exit… The Namibian government has formally requested technical assistance from the European Union Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism (EU AML/CFT Global Facility) to enhance its compliance with international standards on beneficial ownership reporting. The EU Global Facility on Monday kicked off a scoping mission workshop aimed at outlining priority activities for technical assistance on beneficial ownership. This mission assessed Namibia’s specific needs and challenges, forming the basis for a workplan proposal tailored specifically to Namibia’s requirements. The workshop was attended by approximately 20 representatives from key Namibian government agencies, including the Ministry of Justice, Bank of Namibia, Business and Intellectual Property Authority, Master of the High Court, Financial Intelligence Centre, Namibia Financial Institutions Supervisory Authority, Namibia Revenue Agency, Anti-Corruption Commission of Namibia, Central Procurement Board, Namibian Police, the Office of the Prosecutor General and the Institute for Chartered Accountants. The goal of this collaboration is to support Namibia in exiting the Financial Action Task Force’s Grey list, while strengthening the country’s financial systems, transparency and accountability. The EU AML/CFT Global Facility is a technical assistance project dedicated to supporting partner countries world-wide in strengthening their anti-money laundering policies and operational frameworks. Today, the EU will host the beneficial ownership workshop under the theme “State of play of BO disclosure framework in Namibia”. Photo: Contributed