Uganda has officially been removed from the European Commission’s list of high-risk countries for financial crimes, marking a key milestone in the country’s regulatory reform efforts.
The announcement came on Tuesday from Brussels, as part of the EU’s regular update to its list of jurisdictions under increased scrutiny for deficiencies in anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks. Uganda had been on the list since 2020 after a Financial Action Task Force (FATF) review revealed gaps in oversight of financial institutions, transparency in beneficial ownership, and financial intelligence capabilities.
Since then, Uganda has undertaken sweeping reforms. These include amendments to its legal framework, improved inter-agency collaboration, and tighter supervision of both financial and non-financial sectors. The European Commission confirmed the delisting followed a “thorough technical assessment” that involved FATF input, bilateral cooperation, and on-the-ground reviews.
While Uganda remained on the list, transactions with EU-based institutions faced tougher due diligence checks, often complicating cross-border deals and investment flows.
Uganda now joins other delisted countries such as Barbados, Jamaica, and the UAE. However, new countries including Kenya, Angola, and Venezuela were added to the high-risk list. The European Parliament and Council will review the changes during a one-month scrutiny period before they officially take effect.
This update is expected to boost investor confidence and ease financial operations between Uganda and the European Union.https://www.pulse.ug/articles/business/uganda-finally-removed-from-eu-money-laundering-blacklist-2025061207195719755
