Namibia Country Summary
Medium-High Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Higher Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Lower Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Namibia is on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in Namibia was undertaken in 2024. According to that Evaluation, Namibia was deemed Compliant for 8 and Largely Compliant for 26 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness ratings.
Sanctions
There are currently no international sanctions in force against Namibia.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 49 |
| World Bank: Control of Corruption Percentile Rank | 59 |
Namibia faces significant challenges related to crime and corruption, with public perception of corruption remaining high and a notable fishing industry scandal highlighting systemic issues. Despite the establishment of the Anti-Corruption Commission and various international commitments, the implementation of anti-corruption measures is often hindered by budgetary constraints and public dissatisfaction with government efforts.
In terms of criminal activity, Namibia grapples with human trafficking, wildlife crime, and drug trafficking, with foreign and domestic criminal networks contributing to these issues. The country's law enforcement and judicial systems are burdened by resource limitations and corruption, while civil society plays a crucial role in advocacy and victim support, albeit with limited capacity.
Economy
Namibia's economy is characterized by a strong emphasis on attracting both domestic and foreign investment to drive growth, reduce unemployment, and diversify its economic base. The government, through the Ministry of Industrialization and Trade, implements the Foreign Investment Act of 1993, which ensures equal treatment for foreign and local investors while promoting partnerships with Namibian firms. Key sectors such as mining, fishing, and tourism have historically drawn significant investment, with ongoing efforts to enhance infrastructure and position Namibia as a regional logistics hub, despite challenges like a small domestic market and a limited skilled labor pool.
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