Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
Tese reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape.
View DetailsIs it working?
Too early to determine.
Actions
Draft for comments published in February 2024.
Are there plans?
Research intended to make adjustments to enhance alignment of the frameworks.
Is it on the agenda?
Launched in the 2020 Budget.
Goals
Reforms to modernise the foreign-exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory).
Summary
These reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT, together with the SARB, Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, such dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore.
View DetailsIs it working?
To determine the effectiveness of capital flow management reforms in boosting long-term investment, the research will have to assess changes in FDI and portfolio investment flows, trade volumes, GDP growth and employment rates. This will require the monitoring of financial market developments and integration, joint infrastructure projects and regional development initiatives. Furthermore, evaluation will be necessary to determine any improvements in the ease of doing business, regulatory compliance and harmonisation, utilising investor surveys, business confidence indices and trade and investment agreements.
Actions
Back in 2020, the government outlined reforms to modernise the foreign?exchange system to maximise trade and investment benefits in a globalised capital environment and complement the African Continental Free Trade Agreement, to which South Africa is a signatory. The reforms were aligned to the OECD best?practice Code of Liberalisation of Capital Movements. National Treasury, alongside the Reserve Bank, the Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. This research is intended to generate adjustments to improve alignment of the frameworks and may affect the pace at which these reforms continue to be implemented.
Are there plans?
Key initiatives include enhancing financial system integrity through the Financial Sector Regulation Act, relaxing exchange controls and establishing special economic zones with tax incentives. The National Infrastructure Plan aims to improve critical infrastructure, while strengthening the JSE and promoting green bonds to attract sustainable investments. Additionally, the National Development Plan and sector-specific strategies like the Industrial Policy Action Plan and the Renewable Energy Independent Power Producer Procurement Programme support economic growth and competitiveness, complemented by human capital development through skills programmes.
Is it on the agenda?
South Africa has implemented a range of regulatory reforms and incentives to attract long-term investments through the management of capital flows. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability, and the relaxation of exchange controls to facilitate greater capital mobility. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Goals
Reforms to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory). Unlisted companies are allowed to invest offshore up to the limit of R5bn, in line with FDI. More than R5bn will need SARB approval. SA licensed private equity funds will be allowed to invest up to R5bn offshore, in line with FDI policy.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
Currently, unlisted companies and licensed private equity funds are allowed to invest offshore up to the limit of R5bn, in line with foreign direct investment. More than R5bn requires SARB approval. Overarching reforms to South Africa's foreign exchange system include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, authorised dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore. Modernising South Africa's foreign exchange system aligns with the OECD's best-practice Code of Liberalisation of Capital Movements. National Treasury, together with the SARB, Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks.
View DetailsIs it working?
The capital flows management framework is under ongoing review, with reforms praimed at promoting investment and trade. This is not yet concluded as further liberalisation and alignment with international standards are planned. SARB and National Treasury are working on this.
Actions
The authorities have implemented higher offshore limits, allowed easier hedging for exporters, removed most approvals for common cross-border flows and begun updating standards for international transactions. Ongoing policy reviews and exposure drafts, regular market and stakeholder engagement, annual reviews of adequacy and cross-ministry coordination underpin the reform’s momentum.
Are there plans?
There are well-defined, phased plans including technical policy papers, IMF peer reviews, regulatory drafting and extensive stakeholder consultation. Regulatory amendments are scheduled for publication for public comment in 2025. The strategy dovetails with the SA Investment Strategy, new PPP framework and regional integration under AfCFTA. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Is it on the agenda?
Regulatory reforms and incentives to attract long-term investments through the management of capital flows are firmly on the agenda. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability and the relaxation of exchange controls to facilitate greater capital mobility.
Goals
The goal is to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement, of which South Africa is a signatory.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
Currently, unlisted companies and licensed private equity funds are allowed to invest offshore up to the limit of R5bn, in line with foreign direct investment. More than R5bn requires SARB approval. Overarching reforms to South Africa's foreign exchange system include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, authorised dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore. Modernising South Africa's foreign exchange system aligns with the OECD's best-practice Code of Liberalisation of Capital Movements. National Treasury, together with the SARB, Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks.
View DetailsIs it working?
The capital flows management framework is under ongoing review, with reforms praimed at promoting investment and trade. This is not yet concluded as further liberalisation and alignment with international standards are planned. SARB and National Treasury are working on this.
Actions
The authorities have implemented higher offshore limits, allowed easier hedging for exporters, removed most approvals for common cross-border flows and begun updating standards for international transactions. Ongoing policy reviews and exposure drafts, regular market and stakeholder engagement, annual reviews of adequacy and cross-ministry coordination underpin the reform’s momentum.
Are there plans?
There are well-defined, phased plans including technical policy papers, IMF peer reviews, regulatory drafting and extensive stakeholder consultation. Regulatory amendments are scheduled for publication for public comment in 2025. The strategy dovetails with the SA Investment Strategy, new PPP framework and regional integration under AfCFTA. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Is it on the agenda?
Regulatory reforms and incentives to attract long-term investments through the management of capital flows are firmly on the agenda. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability and the relaxation of exchange controls to facilitate greater capital mobility.
Goals
The goal is to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement, of which South Africa is a signatory.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
These reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with the SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, such dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore.
View DetailsIs it working?
To determine the effectiveness of capital flow management reforms in boosting long-term investment, the research will have to assess changes in FDI and portfolio investment flows, trade volumes, GDP growth, and employment rates. This will require the monitoring of financial market developments and integration, joint infrastructure projects, and regional development initiatives. Furthermore, evaluation will be necessary to determine any improvements in the ease of doing business, regulatory compliance, and harmonisation utilising investor surveys, business confidence indices, and trade and investment agreements.
Actions
Back in 2020, the government outlined reforms to modernise the foreign?exchange system to maximise trade and investment benefits in a globalised capital environment and complement the African Continental Free Trade Agreement, to which South Africa is a signatory. The reforms were aligned to the OECD best?practice Code of Liberalisation of Capital Movements. National Treasury, alongside the Reserve Bank, the Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. This research is intended to generate adjustments to improve alignment of the frameworks and may affect the pace at which these reforms continue to be implemented.
Are there plans?
Key initiatives include enhancing financial system integrity through the Financial Sector Regulation Act, relaxing exchange controls, and establishing special economic zones with tax incentives. The National Infrastructure Plan aims to improve critical infrastructure, while strengthening the JSE and promoting green bonds to attract sustainable investments. Additionally, the National Development Plan (NDP) and sector-specific strategies like the Industrial Policy Action Plan (IPAP) and the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) support economic growth and competitiveness, complemented by human capital development through skills programmes.
Is it on the agenda?
South Africa has implemented a range of regulatory reforms and incentives to attract long-term investments through the management of capital flows. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability, and the relaxation of exchange controls to facilitate greater capital mobility. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Goals
Reforms to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory). Unlisted companies are allowed to invest offshore up to the limit of R5bn in line with FDI. More than R5bn will need SARB approval. SA licensed private equity funds will be allowed to invest up to R5bn offshore, in line with FDI policy.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
These reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT (together with the SARB, Prudential Authority and the FSCA) will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, such dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore.
View DetailsIs it working?
To determine the effectiveness of capital flow management reforms in boosting long-term investment, the research will have to assess changes in FDI and portfolio investment flows, trade volumes, GDP growth, and employment rates. This will require the monitoring of financial market developments and integration, joint infrastructure projects, and regional development initiatives. Furthermore, evaluation will be necessary to determine any improvements in the ease of doing business, regulatory compliance, and harmonisation utilising investor surveys, business confidence indices, and trade and investment agreements.
Actions
Back in 2020, the government outlined reforms to modernise the foreign?exchange system to maximise trade and investment benefits in a globalised capital environment and complement the African Continental Free Trade Agreement, to which South Africa is a signatory. The reforms were aligned to the OECD best?practice Code of Liberalisation of Capital Movements. National Treasury, alongside the Reserve Bank, the Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. This research is intended to generate adjustments to improve alignment of the frameworks and may affect the pace at which these reforms continue to be implemented.
Are there plans?
Key initiatives include enhancing financial system integrity through the Financial Sector Regulation Act, relaxing exchange controls, and establishing special economic zones with tax incentives. The National Infrastructure Plan aims to improve critical infrastructure, while strengthening the JSE and promoting green bonds to attract sustainable investments. Additionally, the National Development Plan (NDP) and sector-specific strategies like the Industrial Policy Action Plan (IPAP) and the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) support economic growth and competitiveness, complemented by human capital development through skills programmes.
Is it on the agenda?
South Africa has implemented a range of regulatory reforms and incentives to attract long-term investments through the management of capital flows. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability, and the relaxation of exchange controls to facilitate greater capital mobility. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Goals
Reforms to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory). Unlisted companies are allowed to invest offshore up to the limit of R5bn in line with FDI. More than R5bn will need SARB approval. SA licensed private equity funds will be allowed to invest up to R5bn offshore, in line with FDI policy.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
These reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT, together with the SARB, Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, such dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore.
View DetailsIs it working?
To determine the effectiveness of capital flow management reforms in boosting long-term investment, the research will have to assess changes in FDI and portfolio investment flows, trade volumes, GDP growth and employment rates. This will require the monitoring of financial market developments and integration, joint infrastructure projects and regional development initiatives. Furthermore, evaluation will be necessary to determine any improvements in the ease of doing business, regulatory compliance and harmonisation, utilising investor surveys, business confidence indices and trade and investment agreements.
Actions
Back in 2020, the government outlined reforms to modernise the foreign?exchange system to maximise trade and investment benefits in a globalised capital environment and complement the African Continental Free Trade Agreement, to which South Africa is a signatory. The reforms were aligned to the OECD best?practice Code of Liberalisation of Capital Movements. National Treasury, alongside the Reserve Bank, the Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. This research is intended to generate adjustments to improve alignment of the frameworks and may affect the pace at which these reforms continue to be implemented.
Are there plans?
Key initiatives include enhancing financial system integrity through the Financial Sector Regulation Act, relaxing exchange controls and establishing special economic zones with tax incentives. The National Infrastructure Plan aims to improve critical infrastructure, while strengthening the JSE and promoting green bonds to attract sustainable investments. Additionally, the National Development Plan and sector-specific strategies like the Industrial Policy Action Plan and the Renewable Energy Independent Power Producer Procurement Programme support economic growth and competitiveness, complemented by human capital development through skills programmes.
Is it on the agenda?
South Africa has implemented a range of regulatory reforms and incentives to attract long-term investments through the management of capital flows. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability, and the relaxation of exchange controls to facilitate greater capital mobility. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Goals
Reforms to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory). Unlisted companies are allowed to invest offshore up to the limit of R5bn, in line with FDI. More than R5bn will need SARB approval. SA licensed private equity funds will be allowed to invest up to R5bn offshore, in line with FDI policy.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)
Summary
These reforms align with the OECD's best-practice Code of Liberalisation of Capital Movements. NT, together with the SARB, Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. Overarching reforms include fostering growth of high-potential and innovative businesses, promoting trade and reducing trade-related red tape. Authorised dealers (banks trading in foreign exchange) will be permitted to process requests by certain unlisted companies to establish an offshore company and/or have their primary listing offshore to raise foreign loans and capital for their operations. Furthermore, such dealers will be permitted to allow SA private equity funds licensed with the FSCA to invest offshore.
View DetailsIs it working?
To determine the effectiveness of capital flow management reforms in boosting long-term investment, the research will have to assess changes in FDI and portfolio investment flows, trade volumes, GDP growth and employment rates. This will require the monitoring of financial market developments and integration, joint infrastructure projects and regional development initiatives. Furthermore, evaluation will be necessary to determine any improvements in the ease of doing business, regulatory compliance and harmonisation, utilising investor surveys, business confidence indices and trade and investment agreements.
Actions
Back in 2020, the government outlined reforms to modernise the foreign?exchange system to maximise trade and investment benefits in a globalised capital environment and complement the African Continental Free Trade Agreement, to which South Africa is a signatory. The reforms were aligned to the OECD best?practice Code of Liberalisation of Capital Movements. National Treasury, alongside the Reserve Bank, the Prudential Authority and the FSCA, will evaluate the impact of these reforms on the prudential, fiscal and monetary policy frameworks. This research is intended to generate adjustments to improve alignment of the frameworks and may affect the pace at which these reforms continue to be implemented.
Are there plans?
Key initiatives include enhancing financial system integrity through the Financial Sector Regulation Act, relaxing exchange controls and establishing special economic zones with tax incentives. The National Infrastructure Plan aims to improve critical infrastructure, while strengthening the JSE and promoting green bonds to attract sustainable investments. Additionally, the National Development Plan and sector-specific strategies like the Industrial Policy Action Plan and the Renewable Energy Independent Power Producer Procurement Programme support economic growth and competitiveness, complemented by human capital development through skills programmes.
Is it on the agenda?
South Africa has implemented a range of regulatory reforms and incentives to attract long-term investments through the management of capital flows. Key regulatory measures include the Financial Sector Regulation Act, which aims to enhance financial system stability, and the relaxation of exchange controls to facilitate greater capital mobility. The establishment of special economic zones offers tax incentives and reduced tariffs to attract foreign direct investment, while investment promotion agencies like InvestSA provide support and facilitate the investment process for foreign investors.
Goals
Reforms to modernise the foreign exchange system to maximise trade and investment benefits in a globalised capital context and complement the African Continental Free Trade Agreement (South Africa is a signatory). Unlisted companies are allowed to invest offshore up to the limit of R5bn, in line with FDI. More than R5bn will need SARB approval. SA licensed private equity funds will be allowed to invest up to R5bn offshore, in line with FDI policy.
Departments / Govt Institutions
Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)