Billionaire Shuttleworth loses SA exchange control case

markshuttleworthBillionaire entrepreneur Mark Shuttleworth’s bid to have South Africa’s entire exchange control system declared unconstitutional has failed.

The High Court in Pretoria on Thursday dismissed Shuttleworth’s application to strike down the whole of Section 9 of the Currency and Exchange … Read the rest

Mark Shuttleworth’s court application could sink SA exchange control

Billionaire entrepreneur Mark Shuttleworth’s bid to have South Africa’s exchange control system declared unconstitutional could have a devastating effect on the country, the SA Reserve Bank (SARB) said on Tuesday.

Jeremy Gauntlett SC, for the SARB, argued that the order … Read the rest