New finance laws for South Africa get the green light

Finance Minister Enoch Godongwana has welcomed the passing of the General Laws Amendment Bill by the National Council of Provinces on Tuesday.

The Bill amends five pieces of legislation to satisfy the technical compliance deficiencies that were identified in the FATF in its Mutual Evaluation Report last year. These technical compliance deficiencies represent one-half of the exam we must pass. “The outstanding four deficient recommendations are being addressed via policy processes and mechanisms.”

He said if the National Assembly adopts the Bill with the proposed amendments, the NCOP and the Select Committee on Finance in the NCOP will then consider the Bill.

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South Africa is negotiating more green finance dealsSA has secured $8.5 billion (around R147 billion) in climate finance from some of the world’s richest countries. It is in talks with additional nations to help it cut reliance on coal, Environment Minister Barbara Creecy said. Moneyweb GreenEnergy I wonder how happy Gwede is about this?
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