Magnus Heystek is someone I’ve followed for a long time, he’s probably the most honest of the financial analysts in SA. You can view the interview here: https://www.youtube.com/watch?v=yfj0KI2ynAU
BUT HERE’S THE KICKER: For the first time EVER in the history of South Africa, the Government is now putting serious financial restrictions on people leaving the country. This is similar to what we experienced when we were leaving Rhodesia. Although, the South African rules are very much softer than what we experienced … HOWEVER IT COULD GET WORSE.
The Government now locks your money into the country for 3 years if you want to emigrate!! So you can’t take it all with you immediately.
Also, the Government has now put an "Exit Tax" on people leaving the country – that’s something I’ve not heard of before.
To me, it perhaps implies that lots of people are leaving. The Government clearly is trying to hold the money back.
Given time, they could easily make these restrictions worse. I have not seen statistics that indicate how many people are leaving OR WHETHER THE PEOPLE LEAVING ARE WEALTHIER AND TAKING A LOT MORE MONEY WITH THEM!!!!
But something very bad is under way.