South Africa to exit FATF grey list by mid-2025
South Africa, located at the southernmost tip of the Africa continent, has announced its plan to exit the Financial Action Task Force (FATF) grey list, a designation for...
South Africa to introduce a Remote Gambling Bill
South Africa’s Democratic Alliance (DA) is pushing for significant changes in the country’s online gambling regulations with the introduction of the Remote Gambling Bill.
The Remote Gambling Bill has been under development for almost two years. The bill aims to create a safer gaming environment for the nation and protect younger age groups from gambling harms. Moreover, the Democratic Alliance suggests integrating a new licensing system and changing the old-fashioned and outdated gambling laws to modern and structured laws.
This initiative comes after the African National Congress (ANC) struggled for years to implement effective online gambling controls despite its long-standing dominance in South African politics.
Currently, the Democratic Alliance is waiting for industry stakeholders’ approval, with the consultation period ending on December 8. Recently, South Africa announced that it plans to exit the FATF grey list by mid-2025. Being on the grey list means facing additional scrutiny from financial institutions. These impact transaction processing times and affect high-risk markets like gambling. To get rid of this, South Africa needs to develop its anti-money laundering (AML) and counter-terrorist financing (CTF) policies.
FAQs
Is gambling legal in South Africa?
Gambling in South Africa is legal yet regulated by national and provincial laws.
What is the legal gambling age in South Africa?
The legal gambling age in South Africa is 18.
South Africa sees record GGR rise in 2023-24
In the period of 2023-24, GGR in South Africa hit a record ZAR59.3bn, which is equal to $3.37bn.South Africa has a varied gambling market. Despite being legal only in a...
