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Exchange controls relaxed

    JOHANNESBURG

    The Central Bank of Swaziland on Thursday announced the easing of exchange controls in a bid to boost foreign investment in its capital market. The bank, according to media reports, said it had scrapped the requirements that non-residents seek its approval to invest in quoted companies and repatriate their profits.

    “Pursuant to exchange control relaxations, equity investment by non-residents into Swaziland companies through the stock market does not require prior approval of the central bank,” the bank said in a statement.

    “Sales proceeds of non-residents in Swaziland are freely transferable for investment in other securities or for conversion into foreign currency,” added the statement.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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