Decreasing investment protection
Media coverage of the Promotion and Protection of Investment Bill of 2013 (the Investment Bill) has focused on its role in replacing South Africa’s bilateral investment treaties with various European states. Representatives of these countries have broken their usual diplomatic silence to warn against the reduced protection it gives investors from their states. However, the true significance of the Bill goes very much beyond this. Read more
The Promotion and Protection of Investment Bill of 2013 (the Investment Bill) seeks to ‘promote investment’, which it recognises as vital ‘job creation, economic growth, development, and the well-being of the people of South Africa’. However, the provisions of the Investment Bill are so damaging that they are likely to repel, rather than promote, the investment so urgently required. Read more
[Source: http://www.taxtalkblog.com/?p=10135 by Kay Schröder, Senior Counsel of the German Southern African Chamber of Commerce.]
In an attempt to overhaul its foreign investment protection regime, South Africa gave notice to cancel its Investment Protection Treaty with Germany, one of its most important trading partners. Subsequently, on 23 October 2013 the draft Promotion and Protection of Investment Bill (“the Bill”) was published for public comment. The Bill is set to replace various foreign investment treaties. Read more
As we bid farewell to Nelson Mandela, his successors in the ANC have failed to govern a complex country.
Nelson Mandela used to joke that if he got to heaven his first move would be to join the local branch of the African National Congress there. For he was a devoted party man: the ANC was his life. It is perhaps just as well that he is no longer here to see what his party has become. Read more
[Source: http://www.bilaterals.org/?sa-annuls-bilateral-investment&lang=en by Carol Paton.]
SOUTH Africa last week cancelled its bilateral investment treaty with Germany, one of its most important trading partners, amid protests by German businesses here.
The move comes as part of South Africa’s stated intention to reshape its investment policy framework, ending bilateral treaties with individual countries. Read more
59 620 000 (mid 2020 estimate)
3.2% y/y in July 2020 (CPI) & +1.9 y/y in July 2020 (PPI)
-51% q/q (2nd quarter of 2020)
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