HILARY JOFFE: Why Tito is making it easier to move money across borders
The philosophy of SA's regulators is that a more open regime makes it more likely companies and individuals will move their money legally
15 November 2020 - 00:08
Tucked away in last month's medium-term budget, with its controversial public sector pay cut proposals and SAA bailout money, was a small but striking announcement on what we used to call exchange controls - but now dub "capital flow management". "Today we announce further steps to make cross-border business easier, including inward listings, loop structures and corporate foreign borrowings," said finance minister Tito Mboweni, whose cryptic comments were followed up with more detailed notes from the Treasury...
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