SOUTH AFRICA: EXCHANGE CONTROL UPDATE

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.

https://www.hoganlovells.com/en/publications/exchange-control-update

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s