Exchange Control Circular No. 33/2014

Circular Reference: Exchange Control Circular No. 33/2014

Circular Date: 28 November 2014

Circular Status: Withdrawn

Authorised Dealer in foreign exchange with limited authority

The attention of Authorised Dealers is drawn to Government Notice No. R. 938 published in Government Gazette No. 38233 of 2014-11-28 in terms of which Mukuru Africa (Pty) Limited was appointed as an Authorised Dealer in foreign exchange with limited authority to operate as a Bureau de Change in South Africa.

This appointment permits Mukuru Africa (Pty) Limited to facilitate transactions in respect of the Single Discretionary Allowance (excluding emigrants’ travel facilities and foreign capital allowance) as outlined in Sections B.4(A) to (E), B.8 and B.11 of the Exchange Control Rulings (“Rulings”).

In addition to the above, they may also purchase foreign bank notes from foreign visitors and any persons who have been authorised to accept foreign bank notes in terms of Section B.21(A) of the Rulings. They are however, not permitted to grant the authority as stipulated in Section B.21(A) of the Rulings to their customers.

The name of Mukuru Africa (Pty) Limited should be added to Section A.2(B) of the Rulings as a Category two Authorised Dealer in foreign exchange with limited authority to operate as a Bureau de Change in South Africa.

A replacement page of the Exchange Control Rulings incorporating the relevant amendment is attached hereto.

Deputy Head: Financial Surveillance

Mukuru Africa (Pty) Ltd
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