Contributing countries had to answer a number of relatively simple questions, and the answers to these form the bulk of the content of the survey. The array of responses in this survey demonstrates that Africa is definitely ‘open for business’ and not as intimidating an investment destination as many may think.
Questions covered include:
- Does the regulator follow international practice (eg Basel I, II and III), or some other practice? What is the status of implementation of the Basel Accords (if applicable)?
- What is the broad structure of the supervisory body? How is it managed and controlled? In some countries, this would fall under the control of the country’s central bank. Is there a single person responsible for supervision?
- Are any specific supervisory responses being considered or implemented in your country in response to the Global Financial Crisis?
- What are the restrictions, if any, on foreign investment and disinvestment in companies and projects in your country?
- Are dividends capable of being remitted abroad? Are there any restrictive foreign currency regulations or laws?