South Africa to increase regulation of PE

Africa’s largest private equity market plans to overhaul its financial regulatory system and expand its oversight of private equity activity.

South African Minister of Finance Pravin Gordhan said Wednesday the country plans to reform its financial regulatory system and expand oversight of “hedge funds, private equity and credit ratings agencies”.
He made the remarks during a speech presenting President Jacob Zuma’s 2010 budget. “Although our institutions have proven to be robust, we must not be complacent,” he said, according to the prepared text for his speech.

The Finance Ministry is in the midst of reviewing its adherence to global regulatory standards in banking, insurance and securities markets, he added. He also said that a formal council of regulators may be instituted to strengthen South Africa’s framework for accountability, coordination and performance of financial regulators.

South Africa is the largest private equity market in Africa, and is home to buyout firms Brait, Pamodzi and Ethos, among others.

LATEST NEWS HEADLINES

• The Role of Venture Capital Model in an Islamic Economic System
• IHS moves to the cape
• Regional private equity to rebound next year
• HSBC may bid for S.Africa’s Nedbank: report
• Citadel Capital: African Business of the Year

ALSO IN THE NEWS

SA Private Equity gains confidence

South African private equity firms are increasingly looking at the rest of the continent, spurred by the success of local telecoms and retail companies in Africa’s frontier markets, according to KPMG.
Africa’s biggest economy accounted for more than 70 percent of the sub-Saharan region’s $2.9 billion of private equity deals in 2008, but this share is [...]

MORE STORIES

How to get a job in private equity: The ideal CV

• Pension funds eye $200 stake in private equity
• S.Africa bonds gain on inflation hopes, rand up
• Actis increases investments in emerging markets
• South Africa to increase regulation of PE
• Actis invests US$50 million in Integreon
• Aureos Raises U.S. $381 Million For New African Fund

HAVE YOUR SAY

Join our list of prestigious institutions who have contributed their expertise our site. It’s a great way to share your views and gain recognition for your insights and thought leadership.

PROMOTIONAL BLOCK - ADVERTISE

We have various advertising opportunities, please enquire now!

MORE NEWS HEADLINES

• Hedge Fund Investment Analyst
• Citadel Capital Named Top African Private Equity Firm—Again
• Citadel Capital Hires a General Manager for its East Africa Expansion
• Signs of life seen in Africa private equity funds
• Private Equity Associate
• Venture capitalists buy into Twitter ‘for 100m’