Download Financial Enterprise in South Africa since 1950 by Stuart Jones PDF
By Stuart Jones
South Africa has passed through a monetary revolution considering 1950 while the monetary constitution used to be colonial. by way of 1990 the placement had replaced and new associations emerged. This publication appears at a few of these associations together with the 1st Afrikaner banks, service provider banks and houses.
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South Africa has passed through a monetary revolution when you consider that 1950 while the monetary constitution was once colonial. via 1990 the location had replaced and new associations emerged. This booklet seems to be at a few of these associations together with the 1st Afrikaner banks, service provider banks and homes.
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Extra resources for Financial Enterprise in South Africa since 1950
Its origins in the gold-mining booms of the 1880s and 1890s have also left their mark upon it. In theory it should be seen as a democratic institution working for the wider spread of ownership in South Africa. Certainly it has grown enormously in the last three decades, but its contribution to economic democracy in practice is more 18 Financial Enterprise in South Africa since 1950 even greater than that of the Wallenbergs in Sweden. Undoubtedly exchange control has done considerable harm to the economy, for it has not only locked capital in the country, it has also discouraged its coming into the country.
It would be indirect because, being levied at a Bat rate on the whole of income, it would not take the particular circumstances of an individual tax unit into account in the way that a direct tax does. It would be broad-based because, without exception, it would comprehend the generation of every type of business income. It was precisely this proposal on CBT, however, that sparked off the most controversy over the Commission's report. Two inBuential bodies, the Federated Chamber of Industries and the Afrikaanse Handelsinstituut, accepted the package of which CBT formed the main component, but the equally or more inBuential Association of Chambers of Commerce was strongly against it.
In order to meet modem capital asset ratios Bank Corporation has had to make two new issues of capital that have been taken up by SANLAM. In 1990 the banking cartel is still intact, despite the broadening of banking functions and the blurring of traditional distinctions between banking, merchant banking, building society lending and insurance. Both the Afrikaner-controlled banks have abandoned their earlier practices. Volkskas abandoned the idea of cooperative banking long ago and relied upon its nationalist reputation and govemment contacts to bring it business, but this has changed, as a new generation of Afrikaner businessmen replaced that led by ministers of religion and teachers and as the prospect of changes in the govemment threatens to remove one of their dient bases.