Latest News for: African offshore

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Why crisis investing will cost you but treading carefully can get you an overseas passport

Independent online (SA) 21 Jul 2021
Research has shown that as many as 80% of South Africans who invest offshore lose money, and one of the main reasons for this is crisis investing ... About 20 years ago, you needed at least $100 000 to invest in one opportunity offshore – just to cover the deposit ... Investing offshore ...
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A foreign estate requires careful planning

Independent online (SA) 19 Jul 2021
With the relaxation of South African Foreign Exchange Controls and more investors seeking to diversify risk, many are creating offshore estates. People often don’t think about what the offshore probate formalities might be, what the death duties position might be, and what other effects the death of the investor will bring about.
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A foreign estate requires careful planing

Independent online (SA) 14 Jul 2021
With the relaxation of South African Foreign Exchange Controls and more investors seeking to diversify risk, many are creating offshore estates. People often don’t think about what the offshore probate formalities might be, what the death duties position might be, and what other effects the death of the investor will bring about.
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Ships found to be major contributor to illegal plastic bottle dumping

Independent online (SA) 12 Jul 2021
The study was conducted by the University of Cape Town’s FitzPatrick Institute of African ... The researcher said offshore litter could be divided into two sources; illegal dumping from ships (both foreign and South African), and long-distance drift, mainly from Southeast Asia.
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DIY estate planning can cost you: This is what you need to know to save

Independent online (SA) 12 Jul 2021
... need to be catered for, which differ to South African assets ... It is often believed that having a single world-wide will is sufficient to deal with both South African and offshore assets, but this is not always true - it depends on the type, location, and value of these assets.
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Here are a few benefits of offshore investment and financial emigration

Independent online (SA) 07 Jul 2021
Even in these current volatile conditions, investing offshore allows you to benefit from a broader global universe. This means that you are not only limited to what the South African market offers but more opportunities to invest in long-term growth sectors, such as technology ... There are two ways of gaining offshore exposure.
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Angola’s oilfield debts to energy majors hit $1 billion – sources

Hellenic Shipping News Worldwide 01 Jul 2021
... in its flagship offshore blocks, three industry sources told Reuters.
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Angola’s debts to Western oil companies reach $1B: Report

Al Jazeera 30 Jun 2021
Angola has accumulated around $1bn in debt to Western oil companies operating its oilfields, with the bill prompting the African country’s recently launched sale of stakes in its flagship offshore blocs, three industry sources told Reuters news agency.
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EXCLUSIVE Angola's oilfield debts to energy majors hit $1 billion - sources

Reuters 30 Jun 2021
LONDON, June 30 (Reuters) - Angola has accumulated around $1 billion in debt to western oil companies operating its oilfields, with the bill prompting the African country's recently launched sale of stakes in its flagship offshore blocs, three industry sources told Reuters.
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UN condemns UK plans for offshore asylum seeker processing

The National 29 Jun 2021
The UN has condemned Britain’s plans to send migrants to offshore immigration centres to deter new arrivals ... Read More ... “But the UK it seems is reportedly planning to offshore its asylum support to a much less well-resourced African country.”. The government has previously mooted offshore reception centres on several occasions ... .
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Migrants who want to come to UK ‘may be sent to processing centres in Africa’

Metro UK 28 Jun 2021
Priti Patel’s plan for an offshore processing centre has been blasted (Picture ... The Home Office denied that it has any plans to work in partnership with Denmark on an offshore hub on Monday, after the report suggested talks had been held between the two countries on a shared ‘African hub’.
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Herbert Wigwe is African Banker of the Year for second time consecutively

Business Day Online 28 Jun 2021
The Group Managing Director/CEO of Access Bank Plc Herbert Wigwe has been recognised as the African Banker of the Year at the 2021 edition of the African Banker Awards ... The Awards ceremony held virtually during the Annual meetings of the African Development Bank ... Access Banks’s offshore expansion opens opportunity for risk-sharing.
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Zondo Commission recap: Another week of drama with Agrizzi, Gigaba and the Guptas

Independent online (SA) 26 Jun 2021
The Guptas made use of some of the worst criminal networks, including human trafficking organised crime units, to move stolen South African state funds to offshore accounts ... The Zondo Commission heard that the funds, that ultimately emanated from South African taxpayers, passed ...
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Court orders Eni to pay 30% revenue into escrow account

Joy Online 26 Jun 2021
Ghana moved one step closer today to developing a major deepwater oil discovery, operated by an independent African company, Springfield Exploration & Production Limited (SEP), the Operator of the offshore West Cape Three Points Block 2 (WCTP 2) ... The court’s order takes effect from today ... In the light of such unprecedented challenges, ... Background ... .
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