Namibia and Tunisia have been placed on a list of blacklisted non-European Union tax haven countries.
The two nations are the only African countries on the blacklisted list of non-cooperative tax havens adopted by EU ministers.
The list made public on Tuesday also mentioned American Samoa, Bahrain, Barbados, Grenada, Guam, Macau, the Marshall Islands, Mongolia, Palau, Panama, Saint Lucia, Samoa, South Korea, Trinidad and Tobago and United Arab Emirates.
Namibia which is the only sub-Saharan African country on the list has already rejected the report criticising its listing calling it unjust and biased.
Namibia has blamed its status on missing a deadline to comply.
The country’s Finance Minister Calle Schlettwein said “Namibia is clearly, by any objective criteria, not a tax haven.”
Schlettwein said Namibia’s blacklisting is due to “miscommunication”.