Wealth Advisory Newsletter

SARS makes big move on Bitcoin and crypto assets in South Africa

The South African Revenue Service (SARS) has joined close to 50 other jurisdictions around the world in pledging to adopt a new Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development and workto put it into law. SARS said that, as a jurisdictions that plays host to an active crypto market, it intends to work towards swiftly transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027 (subject to national legislative procedures), reports BusinessTech.

Mercedes-Benz to install more than 120 EV charging stations in South Africa

Mercedes-Benz South Africa announced it is making a R40 million investment to install more than 120 additional electric vehicle charging stations across the country. The German carmaker said the initiative in collaboration with Chargify will consist of two phases. The first involves the installation of 67 Mercedes-Benz EQ-branded charging stations across South Africa by Q1 2024. The second will add more than 60 stations in key areas. No time frame was given for the second phase, reports Timeslive.

MSC Cruises invests in new environmentally-friendly ships

MSC Cruises has finalised its order for two liquefied natural gas-powered vessels with French shipbuilder Chantiers de l’Atlantique. This confirms the two World Class options as firm orders, with the possibility of a fifth ship. The two new ships, currently known as World Class 3 and 4, will be delivered in 2026 and 2027. MSC World Europa and MSC World America are the most energy-efficient cruise ships in the industry, performing much better than the International Maritime Organisation Energy Efficiency Design Index requirement, reports Bizcommunity.

New Ford Mustang locked in for early 2024 South African launch

The new-generation Ford Mustang is finally on the horizon for South African buyers. Ford confirmed that the new pony car would be launched locally in early 2024, with the GT Fastback model being first out the starting blocks, followed by the Dark Horse in Q2 2024. The Ford Mustang GT keeps the muscle car tradition alive and kicking with an extensively updated “Coyote” 5.0-litre normally aspirated V8 petrol engine that now produces 362kW and 567Nm, up from the current model’s 330kW and 529Nm outputs, reports IOL.

South Africa could have a new nuclear reactor by 2027

South Africa could soon have a new nuclear energy reactor to generate critically needed electricity. André Pienaar from C5 Capital heads a project to build a new modular nuclear reactor in the Western Cape and, if all goes according to plan, it could deliver electricity by as soon as 2027. This is a project started about a year ago with a sustainability or viability study of a private-sector financed small nuclear reactor network for South Africa, reports Moneyweb.