433369666-The-Case-for-Investing-in-South-Africa
South Africa's investment proposal
South Africa's investment proposal
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EASE OF DOING BUSINESS: SOUTH AFRICA<br />
FARES RELATIVELY WELL IN VARIOUS CATEGORIES<br />
DOING BUSINESS IN SOUTH AFRICA METRIC (RANK OUT OF 190 COUNTRIES)<br />
Do<strong>in</strong>g Bus<strong>in</strong>ess <strong>in</strong> <strong>South</strong> <strong>Africa</strong> metric (rank out of 190 countries)<br />
Start<strong>in</strong>g a bus<strong>in</strong>ess<br />
Deal<strong>in</strong>g with construction<br />
permits<br />
Gett<strong>in</strong>g electricity<br />
Register<strong>in</strong>g property<br />
Gett<strong>in</strong>g credit<br />
Protect<strong>in</strong>g m<strong>in</strong>ority <strong>in</strong>vestors<br />
Pay<strong>in</strong>g taxes<br />
Trad<strong>in</strong>g across borders<br />
En<strong>for</strong>c<strong>in</strong>g contracts<br />
Resolv<strong>in</strong>g <strong>in</strong>solvency<br />
0 50 100 150 200<br />
23<br />
Source: World Bank Do<strong>in</strong>g Bus<strong>in</strong>ess 2019 (data)<br />
46<br />
66<br />
73<br />
96<br />
109<br />
106<br />
115<br />
134<br />
143<br />
Actions<br />
Start<strong>in</strong>g a bus<strong>in</strong>ess<br />
• Expand the one-stop shop approach to ensure<br />
potential <strong>in</strong>vestors are not shunted between<br />
various departments.<br />
• Register a company <strong>in</strong> a day us<strong>in</strong>g self-service<br />
term<strong>in</strong>als.<br />
• Onl<strong>in</strong>e search portal <strong>for</strong> company names.<br />
• <strong>The</strong> Companies and Intellectual Property<br />
Commission (CIPC) has implemented mobile<br />
apps.<br />
• <strong>South</strong> <strong>Africa</strong> is <strong>in</strong>troduc<strong>in</strong>g a s<strong>in</strong>gle plat<strong>for</strong>m <strong>for</strong><br />
bus<strong>in</strong>esses to register <strong>for</strong> the Unemployment<br />
Insurance Fund and the Workmen’s<br />
Compensation Fund.<br />
Register<strong>in</strong>g a property<br />
• Move to onl<strong>in</strong>e property registration, and<br />
electronic onl<strong>in</strong>e check<strong>in</strong>g <strong>for</strong> rates and<br />
clearance certificates.<br />
• Work is under way to streaml<strong>in</strong>e processes,<br />
reduc<strong>in</strong>g <strong>in</strong><strong>for</strong>mation asymmetry and reduc<strong>in</strong>g<br />
costs <strong>for</strong> register<strong>in</strong>g a property.<br />
Trad<strong>in</strong>g across borders<br />
• <strong>South</strong> <strong>Africa</strong> has implemented a Preferred<br />
Trader Programme and is work<strong>in</strong>g towards<br />
undertak<strong>in</strong>g jo<strong>in</strong>t <strong>in</strong>spections and adopt<strong>in</strong>g new<br />
customs legislation.<br />
• <strong>South</strong> <strong>Africa</strong> participates <strong>in</strong> the Global Coalition<br />
<strong>for</strong> Efficient Logistics as regional anchor that<br />
<strong>in</strong>tegrates domestic and other <strong>Africa</strong>n small-,<br />
medium-, micro- and cooperative-enterprises<br />
<strong>in</strong>to global markets through B2B digital trad<strong>in</strong>g<br />
tools.<br />
Pay<strong>in</strong>g taxes<br />
• Onl<strong>in</strong>e e-fil<strong>in</strong>g system; improve the transparency<br />
of <strong>in</strong><strong>for</strong>mation and documentation required.<br />
• Progress is be<strong>in</strong>g made towards reduc<strong>in</strong>g the<br />
time taken <strong>for</strong> VAT audits.<br />
Contract en<strong>for</strong>cement<br />
• En<strong>for</strong>c<strong>in</strong>g contracts has been made easier<br />
through the amendment of the monetary<br />
jurisdiction of lower courts and the <strong>in</strong>troduction<br />
of voluntary mediation.
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