Why greylisting matters for you, your investments and the country
The FATF decision to greylist was both expected and entirely preventable. Years of government inaction will now count against South Africans, as the cost of capital rises, funding dries up, trade flows ebb and cross-border financial transactions are strangled by red tape
The hits just keep on coming, with the South African government having kneecapped its business sector and its citizens yet again.
First, it was the government’s bungling over electricity, and complicity in the criminal deconstruction of Eskom. Now, by sitting on its hands when it comes to economic crime, its huge gamble with the country’s financial system has backfired...
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