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SOUTH AFRICA: Industries Blocking Exit from Greylisting Set to be Fined

SOUTH AFRICA
  • News24 writes that the Financial Intelligence Centre has again warned that certain elements of the estate agent, legal and metals dealers industries are standing "wilfully" in the way of South Africa exiting the FATF anti-money laundering grey list status. It's thought that certain elements of these industries are yet to cooperate with, or return their questionnaires on compliance and risk identification required to fulfil submissions across sectors. The financial regulator is now said to be issuing notices of intention to fine these businesses that continue to be difficult.
  • The AGOA deal remains a key focus, with Daily Maverick writing that the new Trade and Industry Minister is fighting for South Africa's continued participation at the AGOA forum in Washington this week.
  • Eskom are set to compete with the private generation industry by replacing coal-burning with cleaner technologies in the coming years, with solar, wind, hydro, battery, gas and nuclear sources all set to be integrated, according to Eskom comments.
  • The 1000 local time, 0900BST CPI release is the market focus Wednesday - see full CPI preview above for complete details.

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