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Visa changes, new laws, and the other major announcements you need to know about

Source: Biz tech, 20/09/2018


South Africa’s Cabinet met on Wednesday (19 September 2018) at the
Union Buildings in Pretoria to discuss the state of South Africa.
In a follow-up statement published on Thursday, cabinet outlined its
discussions and made a number of major proclamations on everything
from the economy to new BEE laws.
BusinessTech looked at the biggest announcements below.
Stimulus package
Cabinet deliberated and approved the proposed stimulus package which
proposes measures to reignite our economy from a number of related
portfolios.
It confirmed that a media briefing led by President Cyril Ramaphosa
will be held on Friday (21 September) to present this package.
The economic stimulus package adopted by the nation’s cabinet is aimed
at boosting economic activity and confidence in sectors affected by
regulatory uncertainty, president Cyril Ramaphosa’s office said on Sunday.
“The stimulus package will include a set of economic reforms covering
mining, telecommunications, tourism and transport industries” the
presidency said.
“The stimulus package will re-prioritise government spending, within
the existing fiscal framework, toward activities that will stimulate
economic activity.”
Visa related reforms
Cabinet also received a joint report from the Ministers of Home
Affairs and Tourism respectively, on a number of visa-related reforms
which will make it easier for tourists, business people and academia
to come to South Africa.
The reforms include amendments to the regulations applying to foreign
minors travelling to South Africa, which is expected to be gazetted in
October.
Negotiations on visa waivers and relaxation of visa requirements for
certain countries are also being finalised. Further details will be
announced this week.
________________________________________
Retrenchments
In line with President Ramaphosa’s call for a moratorium on job cuts
resulting from the economic conditions in the country, Cabinet
reiterates its appeal to employers that retrenchments must be a last
resort, and that other available and innovative ways to contain costs
be thoroughly explored to sustain jobs.
Public Service and Administration Minister Ayanda Dlodlo has
previously refuted media reports that government plans to retrench
30,000 public servants to cut costs.
New legislation
Cabinet approved the following bills for publication for public comment:
• Employment Equity Amendment Bill of 2017 �` The amendments seek to
strengthen the compliance mechanisms and will allow for the setting up
of employment equity sector-specific numerical targets. The Minister
of Labour, in consultation with the sector’s stakeholders, will be
able to set employment equity sector-specific numerical targets.
• Financial Sector Laws Amendment Bill �` The amendments seek to
strengthen the curatorship provisions for banks, including mutual and
cooperative banks, and certain non-banks. The changes will ensure
that should these financial institutions experience difficulties, they
can be assisted in a way that protects vulnerable depositors with
minimal disruptions to the financial system and broader economy.


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