LAST WEEK'S limited relaxation of exchange controls will have little impact on exporters, says SA Foreign Trade Organisation g.m. Anne Moore.
Exporters who required an offshore investment account have been able to apply to the Reserve Bank and they have been received sympathetically over the past 12 months or so, she said.
Most companies would require facilities way in excess of the R200 000 limit imposed by the Reserve Bank. Even small companies would find it of little use, she said.
Most small exporters would use their travel allowances rather than tie up capital abroad.
Moore said the current system of applying to the bank was cumbersome and said most businesses would be looking forward to the complete scrapping of controls. Reserve Bank governor Chris Stals has consistently said relaxation will be carried out at a gradual pace.
