Tag: foreign investment

Africa is making slow, steady progress towards energy security, which will only be enhanced through collaboration. Energy access is undeniably one of the most crucial components of modern day living. Reliable energy supply ensures that economies are growing by supporting critical industries like mining, manufacturing, agriculture, healthcare and education, while improving the lives of billions of people.

The South African Rand has endured considerable volatility recently, attributed to a myriad of global factors including commodity price fluctuations, financial market risk perceptions, and local political uncertainty. Amid this turbulence, South African individuals and businesses engaged in trade and investment have encountered both challenges and opportunities.

We are pleased to share our second South Africa Economic Outlook report for 2023. In the wake of Budget 2023 and announced incentives for investment in solar power generation, this edition focuses on green incentives and their role in encouraging local businesses to invest in renewable electricity generation.

With South Africa being added to the Financial Action Task Force's (FATF) grey list, we do not believe markets will continue to react over negatively due to the greylisting, especially since a lot of this unwelcome news has already been priced in by markets.

South African companies will need to respond quickly to mitigate the risks stemming from this development. Global money laundering and terrorist financing watchdog, the Financial Action Task Force (FATF), has placed South Africa on its so-called grey list.

When it comes to creating the financial future you want, investing in the stock market is a proven method that has been tried and tested by millions of investors over many years. Of course, for anyone starting out on their investment journey, the myriad options available, both locally and internationally, can be more than a little intimidating.

In March 2022, the Department of Communications, through ICASA, began auctioning off available spectrum to bidders, largely telecoms corporations. This auction netted more than R14 billion for the national fiscus and will hasten the roll-out of critical digital connectivity across the country while creating numerous job opportunities, particularly within the media and film industry.

The trouble with forex controls is that they are far more effective at keeping money 'out' than at keeping it 'in'. Almost every historical case shows that forex controls were conceived in shamed and weakened circumstances. In every case they have ultimately proven to be unalloyed failures.

Warren Buffet, the most successful investor of all time, calls cryptocurrency 'Tulip Mania'. Cryptocurrency, the most successful investment of all time, doesn’t seem to care. Now a decade on, governments are scrambling to work out how they can get a slice of the tulip pie.

The transition from the old emigration regime to the current regime - ceasing of tax residency, came with some relief. However, there were some silent changes that went unnoticed. The most notable change has been the requirement of a SARS Tax Compliance Status (TCS PIN) for every capital transfer a Non-Resident/Non-Tax Resident makes to offshore.