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Bahamas Seeks Greater Investment Ties With South Africa

by Amanda Banks, Tax-News.com, London

01 January 2004


During the official state visit by South African President Thabo Mbeki to the Bahamas this week, Minister of Financial Services and Investments Allyson Maynard-Gibson announced that the jurisdiction is seeking to capitalise on closer investment links with South Africa.

"South Africa sees The Bahamas as a sound jurisdiction for potential investment," commented Mrs Maynard-Gibson, who described a meeting between the South African President and members of the cabinet on Monday as “a very productive discussion”.

Since the end of the apartheid era in 1994 when the Bahamas officially recognized the South African state, Mrs Maynard Gibson observed that increasing numbers of Bahamians have begun to invest there.

"We also want to demonstrate very clearly to South Africa the incredible potential for investment to The Bahamas from South Africa, not only in banking and insurance, but in the pure investment sector, second homes, tourism, and agriculture," the minister declared.


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