Sluggish uptake of FIC regulations by credit providers could see severe penalties incurred A timeous exit for South Africa from greylisting by the Financial Action Task Force (FATF) – the global money laundering and terrorist financing watchdog which sets international standards – is in serious jeopardy. This is due to the tardiness of South African […]
A rise in insolvencies is becoming a growing concern for businesses offering trade credit, with load shedding posing significant challenges, says Frank Knight, CEO of credit management services company Debtsource. While there is no direct correlation between load shedding and business insolvencies, additional costs and disruptions caused by power outages can adversely affect cash flow
A report released by the Financial Action Task Force in October last year flagged key weaknesses in parts of South Africa’s financial regulations that risk the country being greylisted. According to the report, South Africa has emerged as a hub for money laundering and the financing of terrorist activities due to rampant corruption and inabilities
We are entering an environment in which interest rates are increasing quite sharply. South Africa experienced its biggest increase in borrowing rates in almost two decades and was simultaneously warned of a faster pace of hikes through next year. In mid-July the SA Reserve Bank’s monetary policy committee raised the repurchase interest rate to 5.5%
