{"id":33052,"date":"2026-04-27T08:39:30","date_gmt":"2026-04-27T06:39:30","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=33052"},"modified":"2026-04-27T08:42:44","modified_gmt":"2026-04-27T06:42:44","slug":"sa-plans-exchange-control-revamp-to-attract-billions-in-investment","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/sa-plans-exchange-control-revamp-to-attract-billions-in-investment\/","title":{"rendered":"SA\u00a0plans exchange control revamp to attract billions in investment"},"content":{"rendered":"<div class=\"x_elementToProof\">South Africa (SA) has proposed a sweeping overhaul of its decades-old \u200brules governing money flows, aiming to bolster its position as a financial hub for Africa and attract more \u200cinvestor capital.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The Finance Ministry&#8217;s proposals include raising discretionary offshore allowances for individuals, regulating crypto assets and easing capital-flow restrictions.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The Johannesburg Stock Exchange estimates the changes could attract at least R10 trillion ($608 billion) in investment over time.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Much of the legislation being overhauled dates back to 1961, with \u200bsome provisions originating as early as 1933, Vukile Davidson, Deputy Director-General of financial policy at National Treasury, told<i>\u00a0\u200bReuters<\/i>\u00a0in an interview.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8220;At the time, exchange control was principally used to deal with a wide \u2060range of issues beyond just capital flows management,&#8221; said Davidson. &#8220;It was used to manage the domestic revenue base, to manage \u200billicit flows, to ensure the stability of the financial sector.&#8221;<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">That blunt instrument is now being replaced with more targeted reforms, he \u200bsaid, signalling SA&#8217;s readiness to modernise and adopt a &#8220;positive bias&#8221; approach to managing cross-border capital flows.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">National Treasury published the draft circular for public comment on April 17.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":33053,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-33052","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The Johannesburg Stock Exchange estimates the changes could attract at least R10 trillion ($608 billion) in investment over time.","published_date":"","news_description":"","form_embed":"The Johannesburg Stock Exchange estimates the changes could attract at least R10 trillion ($608 billion) in investment over time.","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/33052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/33052\/revisions"}],"predecessor-version":[{"id":33054,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/33052\/revisions\/33054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/33053"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=33052"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=33052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}