The Côte d'Ivoire has been officially removed from the Financial Action Task Force's (GAFI) grey list, after 24 months of implementing reforms to strengthen its anti-money laundering and combating the financing of terrorism framework. This decision was made during the GAFI plenary meeting held in Paris at the Organisation for Economic Co-operation and Development (OECD) headquarters.
The country's removal from the grey list comes after it satisfied the requirements of its action plan in 24 months, which is less than the average of three years observed for other African countries that have been removed from the list since 2024. Côte d'Ivoire was added to the list on October 25, 2024, and has since implemented several reforms to improve its framework.
These reforms have focused on improving international cooperation in investigations and prosecutions, controlling financial institutions and non-financial professions, and accessing information on the beneficial owners of companies. Additionally, the country has strengthened the use of financial intelligence by competent authorities, intensified investigations and prosecutions for money laundering and terrorist financing, and applied targeted financial sanctions.
The GAFI had previously noted that Côte d'Ivoire had substantially completed its action plan during its plenary meeting in June 2026, paving the way for an on-site evaluation. The country's removal from the grey list is expected to improve the perception of risk associated with its financial system, strengthen investor and international partner confidence, and facilitate relationships with foreign financial institutions.
This development is seen as a result of the vision of President Alassane Ouattara, who has prioritized good governance, transparency, and integrity in the country's national development strategy. The government has stated that it will continue to implement reforms to preserve the gains made and ensure the long-term effectiveness of the country's anti-financial crime framework.
The GAFI grey list includes countries under enhanced surveillance due to strategic deficiencies in their anti-money laundering, terrorist financing, and proliferation frameworks. Countries on the list are required to commit to correcting these deficiencies within an agreed-upon action plan. Côte d'Ivoire's removal from the list is a positive signal for the country's economic attractiveness.
The country's removal from the GAFI grey list is a significant achievement, demonstrating its commitment to strengthening its anti-money laundering and combating the financing of terrorism framework. This development is expected to have a positive impact on the country's economy and international relationships.
Key points
- Côte d'Ivoire was removed from the GAFI grey list after 24 months of reforms.
- The country's removal from the list is expected to improve investor confidence and facilitate relationships with foreign financial institutions.
- The government will continue to implement reforms to preserve the gains made and ensure the long-term effectiveness of the country's anti-financial crime framework.
