ANNOUNCEMENT 17 Feb 2010In February 2010, the government of South Africa announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
South African Reserve Bank, Exchange Control Circular 5/2010: https://www.resbank.co.za/Publications/Circulars/Exchange%20Control%20Circulars/Exchange%20Control%20Circular%20No.%205-2010.pdf
WTO-UNCTAD-OECD Third Report on G20 Trade and Investment Measures, November 2009 to mid-May 2010: http://www.oecd.org/daf/inv/investment-policy/45447145.pdf
On 17 February 2010, the South African Reserve Bank issued Exchange Control Circular No. 5/2010, allowing South African banks to acquire direct and indirect foreign exposure up to 25% of their total liabilities (excluding equity). All foreign exposure apart from FDI is counted towards this threshold. The measure entered into effect on 1 March 2010.