KUBEN NAIDOO: Reform of laws regulating capital outflows will ensure a level playing field
The recent interest shown in the inward-listings exchange-control circular is welcome. The underlying issues are complex, and as with many financial sector policies there are trade-offs, and often winners and losers.
SA is taking further steps to open up, deepen and strengthen our financial markets, while protecting consumers, investors and savers from undue risk and volatility. In February, the finance minister announced a shift towards a more modernised capital flow management system with a shorter list of limitations. The announcement in October to broaden the scope of inward-listed instruments South Africans can invest in gives intent to this policy, but as with all reforms it has both benefits and risks that must be considered...
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