The flag of South Africa features 7 colours.

The statement is false because the flag of South Africa features six colors, not seven. The flag consists of horizontal bands of red, white, and blue on the hoist side, and a green band on the fly side. In the center, there is a black isosceles triangle outlined in gold, and within the triangle, a yellow, green, and blue Y-shape that intersects in the center. Therefore, the flag consists of six colors and not seven.