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February 28 2024

Responding to the recent announcement by the Financial Action Task Force (FATF) that Namibia
has been added to the ‘grey list’ due to strategic deficiencies in its anti-money laundering
framework, Alan Keet, Regional Head of Middle East & Africa at Apex Group said:

“It is unfortunate to see Namibia has been placed under increased monitoring as a result of
identified deficiencies in its anti-money laundering systems. Apex Group, as a global service provider, has experience of supporting asset managers in jurisdictions placed on FATF’s ‘grey list’ of jurisdictions under increased monitoring. Namibia and our domestic clients remain strategically important to our business in the medium to long term.

Apex Group intends to engage fully in public-private collaboration to swiftly resolve the identified
deficiencies within the agreed action plan and timeframes.

“Significant progress with regard to AML/CFT compliance has already been made, and we look
forward to advancing the global standing of Namibia as an investment jurisdiction of choice for
asset managers,” Keet said.

247@propertyflash.co.za

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