On 4 May 2022, the JSE released amendments as part of the Cutting Red Tape Project, Aimed at Effective and Appropriate Regulation, which will be effective from 1 June 2022. The approved amendments intend to create a more enabling environment to pursue listings and reduce delistings.
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Head of Banking and Financial Services Regulatory, David Geral, and partners, Bright Tibane, Joshua Janks, and Kirsten Kern, wrote the South African Chapter in Chambers and Partners’ Fintech 2022 Guide.
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The South African Hydrogen Society Roadmap (HSRM) was published on 17 February 2022 by the Department of Science and Innovation. It establishes a national framework for policy and actions relating to hydrogen in South Africa and intends to serve as a national coordinating framework in facilitating the integration of hydrogen-related technologies.
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On 12 August 2021 Minister of Mineral Resources and Energy released the much-awaited exemption which raises the registration threshold for self-generation facilities from 1MW to 100MW. This has been widely heralded as unlocking significant opportunities for the private sector and should assist in introducing additional generation capacity into the stressed South African grid.
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Kuwait and South Africa have signed an amending protocol to the Kuwaiti DTA on 1 April 2021. Once the amending protocol comes into effect, dividends declared by a South African company to a Dutch or Swedish Qualifying Shareholder will no longer qualify for the 0% withholding rate, but will be subject to dividends tax at the rate of 5%.
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On 21 July 2020 the Minister of Employment and Labour tabled the Employment Equity Amendment Bill (B14-2020) (Bill) at the National Assembly (NA). The Bill proposes a number of changes to the Employment Equity Act, 1998, as amended (Act). Notably, the Bill contemplates that the Minister would have the power to determine sectoral numerical targets.
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