Corruption might seem normal in South Africa, but an international financial task force disagrees, writes RUSI Centre for Financial Crime and Security Studies’s Sasha Erskine and Tom Keatinge. A pandemic, two catastrophic floods, three sovereign credit downgrades, damaging riots and high unemployment meet a close friend, South Africa, at a bar. International banks and businesses already in South Africa may find compliance challenges too expensive or time consuming, choosing to relocate elsewhere. With this background in mind, later this year, South Africa will face a judgement for which it must be prepared. Almost 30 years ago, South Africa was seen an example to the world for negotiating an end to apartheid without descending into civil war.
Source: News 24 August 10, 2022 04:37 UTC