- Phundex Limited (Jersey Co)
- |14/10/22
Good Governance and Sustainability Key to South Africa’s Future
The past two years have created various uncertainties that have caused investors to place more scrutiny on domiciling decisions; influenced by geopolitics in transition, the war in Ukraine, inflation rates and a looming recession. Such dynamics make it imperative for jurisdictions to strengthen their financial services ecosystems and create a business environment with sustainable economic prosperity in mind. Achieving this ambition will be a significant challenge for South Africa in particular.
5 May 2023
The reaction from SARS for greater regulatory demands, combined with operating in an increasingly complex and volatile geopolitical environment, clearly indicate the importance of compliance and good governance.For South Africa, this will mean being nimble; adapting to these evolving demands by making the necessary regulatory and compliance changes can only benefit the region and promote economic prosperity.
The extent to which ESG will inform domiciling decision-making for investors is yet to be realised,but what is clear is that adherence to the highest international regulatory standards to enable good governance alongside a commitment to accelerate solutions which ultimately benefit the planet and us all, are both already proving vital for economic prosperity, a pathway for African investors and those working with Africa to consider.
Grey list is a short-hand term used by the FATF to describe Jurisdictions under Increased Monitoring. Countries on the ‘grey list’ are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.
