Gordhan promises to relax cross-border financial regulations

Government is proposing a number of measures to relax cross-border financial regulations and tax requirements on companies, making it easier for banks and other financial institutions to invest and operate in Africa, Finance Minister Pravin Gordhan said in his budget speech last week. “Similar measures will apply to foreign companies wanting to invest in African countries using South Africa as their regional headquarters.” Logistics links and other infrastructure are being strengthened through loans provided by the Development Bank of Southern Africa (DBSA). “The DBSA is accelerating investment into the SADC region. We are supporting infrastructure projects in multiple countries, particularly in the key areas of electricity generation and transmission, and in strengthening road links in the region,” he said.