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South Africa

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In Employment

South Africa: Amended employment equity laws to further regulate diversity and transformation

by 5 Mins Read

South Africa’s newly enacted Employment Equity Amendment Act (EEA Act) includes changes to the legislation governing workplace transformation, as well stricter compliance measures for designated employers. Once in force, the EEA Act will oblige designated employers to prepare employment equity plans. It will be essential for such employers to align their plans to achieve the targets for the employment of black people under the broad-based black economic empowerment codes of good practice with their employment equity plans.

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In Employment

International: Global Employment Law Fastpass for United States Multinationals (Webinar Series Invitation)

by 2 Mins Read

Join us for a four-part webinar series as our US moderators welcome colleagues from around the globe to share the latest labor and employment law updates and trends. US-based multinational employers with business operations in Asia Pacific, Europe, the Middle East and Africa, and the Americas regions will hear directly from local practitioners on the major developments they need to know, and come away with practical tips and takeaways to implement.

In AML & Financial Services Regulatory

South Africa: Avoiding FICA fiascos – compliance with March 2023 FICA Directives

by 5 Mins Read

The South African Department of Finance has published Directive 8 on the compulsory screening of employees for competence and integrity. Failure to comply means that such businesses will risk sanction, including a fine of up to ZAR 50 million. Accountable institutions must record how the screening has been conducted and keep records of the outcome of such screening, which must be made available to the Financial Intelligence Centre upon request. It has been stipulated that screenings should begin as soon as possible.

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In Antitrust / Competition

Middle East: Key antitrust and competition trends for emerging markets 2023 (Webinar)

by , and 1 Min Read

In a time of recession, competition law regulations do not change in their content or enforcement. On the contrary, it is vital for companies to remain compliant with applicable antitrust laws and continue their commercially independent behavior. We provided an overview perspective on key antitrust and competition trends for emerging markets including, Morocco, Egypt, Turkey, South Africa and Saudi Arabia in 2023.

In ESG

South Africa: ESG windfall with the expanded renewable energy tax incentive

by and 8 Mins Read

The introduction of an augmented and accelerated capital expenditure deduction for the cost of constructing renewable energy infrastructure in South Africa is a boon for companies that have not yet reached their Environmental, Social and Governance goals. It provides the opportunity to undertake reportable ESG initiatives and simultaneously enjoy a reduction in tax costs. Fully leveraging this opportunity will require a comprehensive understanding of the mechanics of amended incentives and the dynamics of ESG reporting.

In AML & Financial Services Regulatory

South Africa: Greylisted – FATF Plenary adopts Report on South African AML and CTF Measures

by 4 Mins Read

In late February 2023, the Financial Action Task Force (FATF) Plenary officially “greylisted” South Africa when it concluded that it would adopt the Report on South African Anti-Money Laundering and Counter Terrorist Financing Measures. Being greylisted brandishes a country as being financially unsafe, in that it has inadequate safeguards against money laundering and terrorist financing. Countries and organizations shy away from, or increase their own compliance requirements for dealing with countries that may be unable to prevent these crimes.

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In Anti-Corruption

South Africa: Terms of Reference published for Fresh Produce Market Inquiry

by and 4 Mins Read

The Competition Commission of South Africa has published the Fresh Produce Market Inquiry Terms of Reference, announcing its intention to conduct a market inquiry into the Fresh Produce Market of South Africa. The Commission has identified three broad themes for the inquiry, which will address the impediments to competition and market outcomes: the efficiency of the value chain; the market dynamics of key inputs and its impacts on producers; and the barriers to entry, expansion and participation in the fresh produce market.

In Antitrust / Competition

EMEA: Key Antitrust and Competition Trends for Emerging Markets 2023 (Webinar)

by , , , , and 2 Mins Read

In our 60-minute webinar on 14 March 2023 at 3:00pm CET, we’ll help in-house counsel and competition leaders track what to keep top of mind for 2023 in emerging markets, including Morocco, Egypt, Turkey, South Africa and Saudi Arabia. We’ll also provide practical takeaways to help navigate the new landscape.

In Employment

South Africa: The rise of employee value in the mining workplace

by 7 Mins Read

The most precious commodity in any workplace is a thriving and happy workforce. Employees want to know they are working in a role that provides not only personal meaning, but that the business is fulfilling its responsibilities to society and the environment. Employers, including those in the mining sector, that are able to correctly identify the right mix of workforce policies available to them and then find ways of accommodating and communicating with their staff to create meaning, purpose and well-being for them, are at a strategic advantage when it comes to attracting and retaining valuable talent.

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