Mini budget must leverage SA’s removal from grey list, urges Verto

Ashley Lechman|Published

In the wake of South Africa's exit from the FATF grey list, Verto highlights that the upcoming mini budget is a pivotal moment to reinforce financial stability and regulatory certainty, setting the stage for robust economic growth.

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As South Africa prepares for the delivery of its Medium Term Budget Policy Statement (MTBPS) on Wednesday, 12 November 2025, cross-border payments provider Verto emphasises the importance of embedding financial stability and regulatory certainty into the upcoming "mini budget." 

 Verto's call comes hot on the heels of the nation's recent exit from the Financial Action Task Force (FATF) grey list, which has rekindled optimism around foreign direct investment and global trade.

James Booth, Verto’s Head of Revenue, hailed the delisting as a "seminal moment" for the nation.

He said, “This validation of South Africa’s efforts to bolster its anti-money laundering and counter-terrorism financing frameworks significantly enhances our financial credibility."

According to Booth, the removal from the grey list reduces international scrutiny of transactions, leading to lower compliance costs and minimised processing delays, a considerable boon for the South African economy.

Verto posits that the upcoming budget presents a prime opportunity for the Finance Minister to signal a new era for trade engagement.

To capitalise on this momentum, Verto urges National Treasury to offer clear directions on capital flow and currency management policies to lower friction and costs for businesses engaged in international trade.

  • Exchange control relaxation: Verto recommended a gradual streamlining of existing exchange control regulations to enhance the repatriation of funds and management of foreign currency exposure for local enterprises.
  • Digital economy support: It calls for specific provisions or incentives aimed at the fintech sector and digital trade, which have proven essential in developing faster, cheaper payment infrastructures.
  • Fiscal stability: A commitment to debt reduction and fiscal discipline is crucial to ensuring currency stability, which significantly impacts the cost of cross-border trade.

Booth further said, “The next step is for fiscal policy to align with the regulatory advancements. With the grey list hurdle cleared, our focus must now shift towards cultivating an environment where transparent, real-time cross-border payments can flourish.” His sentiments echo the growing belief that embracing these changes could attract investment and accelerate growth for South African businesses, particularly those trading within Africa and beyond.

BUSINESS REPORT