Tag: legislation

The Corporation for Deposit Insurance (CODI) finally aligns South Africa with the rest of the G20. By guaranteeing cash deposits of up to R100,000 per qualifying depositor in the event of a bank collapse, this innovative new scheme has the potential to change South Africa’s banking landscape, which is currently dominated by the Big Five (FNB, Nedbank, Standard, Absa and Capitec).

The South African Competition Commission has published its final revised Public Interest Guidelines relating to merger control. The guidelines serve to clarify the commission’s stance on public interest factors as set out in the Competition Act 89 of 1998 (as amended).

Despite being viewed as an administrative and burdensome expense with excessive paperwork sometimes causing potential delays to establishing business relationships and concluding transactions, Financial Intelligence Centre Act (FICA) compliance is more crucial than ever.

The recent statements by ANC parliamentary chief whip Pemmy Majodina regarding the National Health Insurance (NHI) bill's ‘amendability’ have highlighted a significant misunderstanding of the law making process. Majodina's assurance that the bill can be amended if necessary, simplifies a complex legislative and judicial process.

South Africa is in the midst of a data centre boom. Thanks largely to improved connectivity, the number of local data centres has mushroomed over the past decade. In addition to regional players, big names such as AWS, Huawei, Google, and Microsoft have all invested heavily in local centres.

Procurement and supply body adds voice to discourse over legislation and calls for more radical reforms to root out corruption. We have submitted a series of detailed recommendations for South Africa’s Public Procurement Bill with the intention of advancing the principles of ethical procurement practices within the Southern Africa region.

As artificial intelligence (AI) becomes increasingly integral to business operations, data governance is essential to ensure the ethical and effective use of this technology. Integrating AI responsibly into business processes must be an organisational priority.

Online betting in South Africa is a thriving business, expected to become a billion-dollar sector within four years. But there are risks, especially as the digital era makes it easy to forge identities. Betting companies must manage fraud risks and honour legislation, avoid financial and reputational damage, and continue investing in customer relationships.

In a move that could serve as catalyst for the reshape of South Africa's cannabis landscape, the National Council of Provinces (NCOP) recently passed the Cannabis for Private Purposes Bill [B 19B-2020] (the Bill).

The rail sector in South Africa is at a breaking point and urgent action is required. From a freight perspective, Transnet's incapacity to dispatch locomotives is at an all-time high. The National Logistics Crisis Committee estimates that the country's macro logistics system loses circa ZAR1 billion a day.