Monday, July 6, 2020

SA moves to avoid exodus of investors to Botswana

The anticipated mass exodus of big investors from South Africa to Botswana has been stemmed this week by South Africa’s agreement to demands by multinational companies for laws that make it easier for them to transfer key staff to South Africa.

After months of protests by multinational companies trying to transfer key staff to SA, the South African home affairs department said this week that it would make it easier for staff seconded from abroad to stay longer.

Multinational companies which were threatening to relocate to Botswana are expected to go back on their threat now that they will be able to extend intracompany transfer permits into work permits more easily, allowing staff to stay longer under he new dispensation.

The South African government also said foreigners from countries whose citizens required transit visas to visit SA would no longer need to apply for these.

The announcement follows protests by foreign and domestic business over the difficultly of obtaining visas to bring in staff.

Some multinational groups with regional headquarters in SA had threatened to move their offices to Botswana.

RELATED STORIES

Read this week's paper

Battle lines drawn for Masisi, BDP backbench

President Mokgweetsi Masisi is expected to meet disgruntled members of his backbench on July 14, 2020, just a day following the commencement...