Emily sits down with Gretchen to discuss a critical yet often overlooked topic: Estate planning for women-owned businesses in SA

Join Trusts & Estates practice Director, Emily West as she sits down with Practice Head, Gretchen Barkhuizen-Barbosa to discuss a critical yet often overlooked topic: Estate Planning for Women-Owned Businesses in South Africa.

Further refinements to the corporate rollover relief provisions

The impact of the fluctuation of the Kenyan currency with regards to investment in Kenya

The Kenyan shilling dropped significantly in value (by approximately 22%) against the US dollar between March 2022 and January 2024. During this period there was a continuous drop in value with the lowest rate being KES 160.80 per dollar in January 2024. Various factors have been attributed to the depreciation of the shilling against the dollar, including the COVID-19 pandemic, which affected the global economy; rapid monetary policy tightening by the US Federal Reserve; the Russia-Ukraine war and the subsequent sanctions against Russia which disrupted supply chains; drought; and the Kenyan Government’s heavy debt burden, which reduced Kenya’s reserves below the required level of not less than the value of four months’ worth of imports. In February 2024, the shilling gained against the dollar from KES 160 to KES 145 and, as at 6 March, the shilling stands at 142.8 against the dollar. It is not certain whether this upward trend will continue or if future declines/fluctuations are to be expected. In this article, we discuss the actions taken by the Government to mitigate this, look at the impact of fluctuation of the Kenyan currency on investments, and propose somesolutions.      Mitigation measures by the Government

National Treasury provides update on South Africa's progress in getting off the FATF grey list

National Treasury released a statement providing feedback on South Africa's participation in the October 2024 Financial Action Task Force (FATF) Plenary, where FATF recognised the improvements made in South Africa's structures to monitor and prevent anti-money laundering/combatting the financing of terrorism (AML/CFT).

Back to the future: The provision of future/contingent financial assistance in terms of section 44 of the Companies Act

In Constantia Insurance Company Limited v Master of the High Court, Johannesburg and Others JOL 56548 (SCA), the Supreme Court of Appeal provided some much-needed clarity in confirming that the forms of financial assistance provided in terms of section 45 of the Companies Act 71 of 2008 (Act) constitutes an exhaustivelist.  

Foreign governing laws and enforcement of foreign judgments in Kenya

In the case of Opera Software Ireland Limited v Keraco Holdings Limited (Miscellaneous Case E059 of 2024) KEHC 8699 (KLR)), the High Court of Kenya refused to enforce a foreign judgment against Keraco Holdings Limited (Keraco), a Kenyan company, due to the lack of clarity regarding the governing law of the contract. The judgment creditor, Opera Software Ireland Limited (Opera), sought to enforce a judgment awarded in its favour from the High Court of Justice in the UK. Both parties had entered into a simple contract for the provision of services which made reference to Opera’s standard terms and conditions accessible from theirwebsite.