South Africa has dismantled a financial relic of the apartheid era, scrapping a pre-approval system for moving capital across borders that had been in place for over six decades. The Reserve Bank and National Treasury are replacing it with a “positive bias” approach—money, including cryptocurrency, flows freely unless flagged as high risk. The shift is a cornerstone of President Cyril Ramaphosa’s economic revival strategy, as his administration seeks to attract $180 billion in investment for critical infrastructure upgrades in energy, water, and logistics. By easing these restrictions, authorities hope to boost confidence among global investors and position South Africa as a competitive destination for large-scale capital flows.
Semafor
