Understand the new rules around citizenship, exchange control and tax residency (By: Allan Gray)

The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out, with effect 1 March 2021. National Treasury has indicated that the reason for this regulatory change is “to encourage South Africans to keep their ties with the country”. The phasing out of emigration…

Make Eskom Great Again

In 2001, Eskom was named as the global power company of the year at the Global Energy Awards hosted by the Financial Times in New York. The utility was commended for its technological innovation, effective maintenance, and low-cost electricity. In the two decades since then, however, a lack of maintenance, rampant corruption and deliberate maladministration…

SPAC Attack

SPACs, or ‘Special-Purpose Acquisition Company’, are the latest investment frenzy as investors ranging from hedge funds to everyday investors, rush to access these speculative assets in the hope that they might be investing in the next Tesla or Amazon. SPACs are essentially publicly traded companies that have no operations and hold nothing but cash. They…

Cautionary Tales of Offshore Investing

South African businesses have a strong history of successfully expanding their operations offshore and becoming well renowned global businesses. This has been done to access growth opportunities in offshore markets and to diversify away from a lower growth and higher risk domestic environment. While some companies have achieved success in their offshore pursuits, there are…