Uganda’s Exclusion from the FATF Grey List Marks a Major Step in Anti-Money Laundering Reforms

KAMPALA, Uganda – Uganda’s recent exit from the Financial Action Task Force (FATF) Grey List is not just a regulatory victory—it marks the start of a determined journey toward financial integrity and global competitiveness.

During a lively dialogue titled “From Grey to Greatness – Ensuring Uganda Never Returns to the FATF Grey List through Public-Private Collaboration and Partnership,” Godfrey Sebaana, CEO of Diamond Trust Bank (DTB), celebrated the milestone as evidence of Uganda’s relentless commitment to fortifying its anti-money laundering (AML) and counter-terrorism financing (CTF) systems. Sebaana stressed that while leaving the Grey List is a major achievement, it is merely the first step in an ongoing mission to uphold strict compliance standards.

“Exiting the Grey List is a substantial milestone, but it must be seen as the beginning of an ongoing commitment to compliance,” Sebaana explained. He went on to underline the need for enduring partnerships between the public and private sectors, urging investment in cutting-edge compliance technologies and stronger regulatory oversight. “We cannot afford to be complacent,” he added, emphasizing that continuous collaboration and resource empowerment for bodies like the Financial Intelligence Authority (FIA) are essential to safeguard Uganda’s hard-won progress.

Acting Director of the FIA, Sylvia Namubiru, echoed this call for vigilance. “Uganda’s removal from the Grey List is a significant achievement, but we must remain vigilant and continue to strengthen our AML/CFT frameworks to prevent the risk of re-listing,” Namubiru said. Both she and Sebaana highlighted that this achievement is not an endpoint but a launchpad for deeper, more robust financial reforms.
The dialogue brought together influential stakeholders from both the public and private sectors, all unified in the belief that maintaining a competitive, secure, and attractive financial ecosystem is crucial for Uganda’s long-term economic growth. By fostering a spirit of transparency and cooperation, the country aims to build a reputation as a safe haven for global investment—a vision that resonates deeply with every citizen who dreams of a prosperous future.

With these collaborative efforts underway, Uganda is poised to transform its financial landscape and strengthen its position in the global financial community. As the nation turns the page on its grey past, its leaders and stakeholders remain steadfast in their promise to protect and nurture the integrity of the financial system, ensuring that every step forward is a step toward a brighter, more secure tomorrow.