Tag Archives | regulation
Workforce analytics, talent management and technology will continue to reinforce the need for HR […]
South Africa and Mauritius have concluded a new double tax agreement (“DTA”) on 17 May 2013. Depending on how quickly the final processes can be implemented, the new DTA may come into effect as soon as 1 January 2014. We summarise below some of the key features of the new treaty.
Foreign Direct Investment (FDI) into Africa is on a path of continuous growth according to the Africa Emergence: Rise of the Phoenix report. Growth in the region, to date, has been referred to as only the “tip of the proverbial iceberg”. Our own Yunus Suleman added that the continent has much more to offer, and that Africa is set to hold its title as one of the largest FDI destinations and one of the fastest-growing economies.
The infrastructure deficit is often noted as having a massive impact on the continent’s development and growth, with infrastructure highlighted as a key area requiring investment. The 23rd World Economic Forum has a central theme of Delivering on Africa’s Promise, and has infrastructure as a dominant and recurring topic for discussion.
Based on the principles of the Spatial Development Initiative (SDI) conceived by the South African government in 1995, resource corridors in Africa are areas in which opportunities (mainly resource-based anchor projects and associated infrastructure) have been identified that can be realised through investments to achieve sustainable development, particularly development brought in other sectors through access to the resource infrastructure.
A supportive regulatory framework is essential in ensuring that business in Africa can be done with ease. According to recent World Bank report there are 10 areas of business regulation that determine the ease of doing business in a country.
Key areas include: Establishing a business, resolving insolvencies, cross border trading and access to electricity.
South Africa, Rwanda and Mauritius are the top ranking countries in Africa to do business in based on their regulatory frameworks, while countries like Angola, Chad and Congo are still playing catch-up in establishing business friendly environments.
Fraud and corruption will always be at the forefront of the minds of those looking to invest in Africa. In this regard, the recently published KPMG Africa fraud Barometer for 2011 reported some telling statistics about reported fraud on the continent. The Barometer was developed “to form a bigger picture of fraud prevalence on the African continent”, incorporating data from available news articles on Africa and other designated databases. The Barometer compares fraud reports from the six months ended June 2011 to the six months ended December 2011.
The April 2012 World Economic Outlook report published by the International Monetary Fund presented a sturdy but cautiously optimistic future for the various African economies. Sub-Saharan Africa particularly recorded a strong 5 percent growth in 2011 and was one of the regions least affected by the global financial crisis. With the exception of South Africa, limited financial ties to Europe helped shield the region from the financial havoc that tore through Western economies in late 2011.
This episode of the Africa Conversation Series, sees the panel of industry experts putting the spotlight on Africa’s growing relationship with China. What are prospects looking like moving forward, in terms of being able, to leverage off the opportunities that this relationship brings with it and at what cost? It certainly is a sensitive issue right now, following the South African governments failure to grant a visa to the Dalai Lama. With many asking whether the price we are paying for this relationship is actually worth it and whether we are managing this relationship in the best way possiple…