The Democratic Republic of Congo (DRC) has been officially removed from the Financial Action Task Force's (FATF) grey list, a significant milestone in the country's efforts to strengthen its financial system. The DRC was placed on the grey list in October 2022 due to weaknesses in combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.
The removal of the DRC from the grey list is attributed to the efforts of Finance Minister Doudou Fwamba Likunde Li-Botayi, who was appointed in June 2024 by President Félix-Antoine Tshisekedi Tshilombo. When Fwamba took office, the DRC had only completed five of the 23 required reforms, representing 21% progress.
Under Fwamba's leadership, the DRC was able to implement the remaining 18 actions, completing all 23 required reforms in just 17 months. This rapid progress was made possible through coordination with various stakeholders, including the Central Bank of Congo, the Justice Department, and private sector operators.
The FATF's decision to remove the DRC from the grey list was made after a thorough evaluation of the country's progress. In June 2026, the FATF plenary in Paris recognized that the 23 actions were largely implemented, paving the way for an on-site verification.
A team of experts from the FATF visited Kinshasa in September 2026 to verify that the reforms were not just on paper but were real, sustainable mechanisms backed by political will. The visit was supervised by the Ministry of Finance and the National Technical Secretariat, with the active participation of the Governor of the Central Bank and other concerned administrations.
The removal of the DRC from the grey list is expected to have a positive impact on the country's economy. The government believes that this development will improve the country's credibility and make it more attractive to investors.
The DRC's removal from the grey list is a significant achievement for Finance Minister Fwamba, who has demonstrated his commitment to strengthening the country's financial system. The minister's approach has been characterized by his tireless work ethic and attention to detail, which has earned him recognition as one of the best finance ministers in the DRC in recent years.
Key points
- The DRC has implemented 23 reforms to combat money laundering and terrorist financing, leading to its removal from the FATF's grey list.
- Finance Minister Doudou Fwamba Likunde Li-Botayi played a key role in implementing the reforms, completing all 23 required actions in just 17 months.
- The removal of the DRC from the grey list is expected to improve the country's credibility and make it more attractive to investors.
