Mnisi warns of oil price risks as Namibia leaves FATF grey list
Central Bank of Eswatini Governor Phil Mnisi opened the Common Monetary Area Governors Meeting by highlighting Namibia's removal from the FATF grey list on June 19, 2026. Mnisi urged closer regional coordination to combat cross-border digital financial crime and manage volatile energy costs.
Oil below $80 offers temporary relief
Governor Phil Mnisi commended Namibia for its exit from the Financial Action Task Force grey list on June 19, 2026, describing it as a key milestone for regional cross-border finance.
Turning to global macroeconomic threats, Mnisi noted that geopolitical friction in the Middle East continues to pose risks to regional stability despite a United States-Iran Memorandum of Understanding.
Although crude oil prices have held below $80 per barrel, energy costs threaten net importers through transport and production channels.
The meeting agenda includes an update on the Balance of Payments Harmonisation Project to align regional external sector statistics.
Dismantling syndicates in the digital age
Digital transformation is reshaping financial services across the Common Monetary Area, expanding inclusion while opening new avenues for illicit cross-border activity.
Mnisi highlighted the recent disruption of an online gambling syndicate in Eswatini as proof of how criminal networks exploit digital payment rails.
Addressing these risks requires structured cooperation among central banks, supervisory bodies, law enforcement, and financial intelligence units across the region.
Words must yield to enforceability
Namibia's FATF exit proves that structural reform yields quick rewards for regional credibility.
Yet polite policy coordination cannot dismantle fast-moving digital crime networks across borders.
The Common Monetary Area urgently needs mandatory enforcement rules rather than soft consultative talk.