'Another tax on incompetence' - Ninety One CEO warns of dire consequences if SA joins grey list

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Ninety One CEO Hendrik du Toit says "needle-moving" long-term growth will come from North America for the firm.
Ninety One CEO Hendrik du Toit says "needle-moving" long-term growth will come from North America for the firm.
Gallo / Foto24 / Felix Dlangamandla

Ninety One, South Africa's biggest asset manager, wants the government to do its job and show up for the country as it battles the possibility of being relegating to a global watchdog's grey list for not having strong enough measures to combat money laundering and other financial crimes.

The Financial Action Task Force (FATF) has warned South Africa that it needs to improve the prosecution of financial crimes in the country if it wants to avoid the list and join the likes of the Cayman Islands, Panama and Morocco.

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