On 12th November, Hogan Lovells published an article saying that the 2018 budget speech delivered by the Minister of Finance on 21st February ushered in further relaxations to exchange control, which found its beginnings in South Africa as far back as 1939 when the country was a member of the now defunct British Sterling Area.  Gradual relaxations to exchange control commenced in 1993 and the February announcements, dealt with in more detail in the article, impact primarily the cross-border activities of South African companies and institutional investors.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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