Part 2.1 - Foreign Investment - Currency Of South Africa

The currency of South Africa is the rand. The declining price of gold on world markets, combined with unfavourable perceptions of the country abroad, have caused the value of the rand against the US dollar to decrease by almost 50% over the past nine years. The decreased value of the rand is, of course, an advantage for foreign investors and visitors, and it helps increase the country's exports.

South Africa, Lesotho, Namibia and Swaziland are members of the Common Monetary Union. There are no exchange control restrictions in effect among the member countries, and they all apply similar exchange control measures.

For further information please contact: 

Werksmans Attorneys 

Werksmans Chambers, 22 Girton Road, Parktown, Johannesburg 2193 
or
P.O. Box 927, Johannesburg 2000 South Africa

Enquiries:        Mr Charles Butler
Telephone         27 (011) 488-0000
Telefax           27 (011) 484-3100/3200
E-Mail Address    cbutler@werksmans.co.za