FTI Consulting (JD Supra South Africa)

[co-author: Kaede Wildschut, and Karam Singh] FTI Consulting South Africa and Corruption Watch recently co-authored an article titled ‘Addressing Corruption in South Africa’ in which we argued, inter alia, that consideration should be given to allowing criminal offenders to self-disclose and subject themselves to an administrative penalty to avoid criminal prosecution through the mechanism of

[author: Georgie Niven] The ‘lifestyle audit’ is a buzzword on the South African anti-corruption agenda. In 2018, incumbent president Cyril Ramaphosa called for lifestyle audits on people in positions of responsibility. Some state employees, including members of the Western Cape cabinet and South Africa’s national power company Eskom, have already been subjected to lifestyle audits. The...

With the election of a more climate-focused administration in the United States and the European Union (EU) honing in on the mining industry to reduce their carbon emissions, the South African government and mining industry must work together to effect the transition to a lower carbon future. Please see full Publication below for more information.

FTI Consulting’s Resilience Barometer ™ data reveals how, for too many organisations in South Africa, the pandemic has exposed a lack of resilience across critical areas: from business models, to supply chains, and from crisis management, to regulatory changes in an increasingly fragmented world.

The COVID-19 pandemic has disrupted businesses, caused market volatility and triggered asset devaluations across the globe. In addition, were participants considering using impairments to account for the impact of the pandemic in current and future financial reporting? Please see full Publication below for more information.

FTI Consulting South Africa published a report on the Energy Transition in South Africa in February 2020, which covered the shape and pace of South Africa’s energy transition across the power, liquid fuels and mining sectors. A few weeks later, a somewhat distant health and economic shock in China and Europe rapidly became front and centre in South Africa. In this follow up article, we focus on...

South Africa is experiencing a corruption crisis and whistle-blowers could play a crucial role in addressing this. But the socio-political context is hostile to whistle-blowing and South Africans who witness fraud and corruption often prefer to remain silent for fear of reprisal. On 5 November 2020, former South Africa Airways (SAA) board chair, Dudu Myeni, revealed the identity of an...

The COVID-19 pandemic has exposed a multitude of governance failures around the world and led to increased calls for fundamental changes to our global political, economic and social systems. Against the backdrop of a looming global recession, addressing corruption and the misappropriation of state resources remains as important as ever. Please see full Publication below for more information.

COVID-19 and the consequent economic effects have meant significant job losses for the people of South Africa. Many families have been affected, and our future generation (the youth) are affected both immediately and in the long run. The impact of COVID-19 on access to education has been significant and disproportionately affected learners in poorer households. This immediate effect will have...

President Ramaphosa’s call to action on the green economy in his newsletter this week signalled recognition of the need for South Africa to build its recovery based on a climateresilient economy fit for these unprecedented times. Please see full Publication below for more information.

Africa could be playing a far greater role in the development of the global digital economy but it requires bold decisions if the continent is to influence global affairs, the global economy and the global imagination. This was the vision of economic change outlined in The Economist’s special Report on The African Century (May 2020). Please see full Publication below for more information.

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.” Rarely can the ‘sage of Omaha’ be disputed, but on his point around timing, five minutes is a very long time in today’s real-time world when you’re dealing with a cyber-attack. Please see full Publication below for more information.

With numerous sectors experiencing financial distress and companies and individuals facing the increased likelihood of insolvency as a result of the economic disruption caused by Covid-19, forensic practitioners will play a key role in supporting South Africa’s economic recovery. Please see full Publication below for more information.

Lack of cybersecurity preparedness continues to create problems and risks for companies in South Africa. Lack of cybersecurity preparedness continues to create problems and risks for companies in South Africa. The 2020 FTI Consulting Resilience Barometer, which polled more than 2,000 respondents from large companies across all G20 countries, reported that companies in the region are suffering...

Survey - The widespread disruption caused by the Coronavirus pandemic has led to ‘business unusual’ for many companies in South Africa as they respond to new challenges in an unpredictable and rapidly changing operating environment. Please see full Publication below for more information.

What makes responding to COVID-19 so difficult is that the “correct” response from a medical, clinical perspective and the “correct” response from an economic perspective require different, even opposite, approaches. From a clinical perspective, we need to do everything that we can to stop transmission of the virus. In practice, this means confining people to their homes and putting the country...

The threat of proliferation financing is an ever increasing and a concerning threat. The reality is that not all banks (and countries for that matter) understand what proliferation finance is, what it looks like, how to identify it and what measures to put in place to mitigate this risk. Please see full Publication below for more information.

The Department of Trade and Industry (DTI) moved rapidly last week to join the fight against COVID-19, by publishing Block Exemption Regulations for the Healthcare sector, in the Government Gazette on 19 March 2020. This comes only days after the National State of Disaster was declared on 15 March 2020. Please see full Publication below for more information.

This report gives an overview of the pivotal role of South Africa in the global mining industry and how mining has supported South Africa’s industrial development by contributing to growth, investment, employment and foreign exchange. Please see full Publication below for more information.

Green Cape Sector Development Agency - In Partnership With Delphos International, PRDW Africa, Granherne And Webber Wetzel, FTI Consulting Assessed The Viability Of The Western Cape Liquefied Natural Gas Import And Gas-Topower Project. The Study Was Conducted On Behalf Of The Western Cape Government And Funded By The U.S. Trade And Development Agency.

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.” Rarely can the ‘sage of Omaha’ be disputed, but on his point around timing, five minutes is a very long time in today’s real-time world when you’re dealing with a cyberattack. Cybersecurity is one of the most critical commercial and reputational risks facing South African organisations today. No...

The 2019 FTI Consulting Resilience Barometer ranked cyber attacks as a top concern for South African businesses in the G20. South Africa is a target firmly in the view of cyber threat actors today. The Country’s move towards digital transformation, combined with a regulatory and judicial environment that is still grappling to achieve greater effectiveness, leaves it in a vulnerable position. In...

More than 17-million South Africans went to the polls on 8 May 2019, giving Cyril Ramaphosa’s African National Congress a 57 percent majority to govern the continent’s most industrialised economy. FTI Consulting unpacks the outcomes of the most critical election since Nelson Mandela became South Africa’s first democratically elected president in 1994 – and what the sixth general election means...

An emboldened President Cyril Ramaphosa stamped his new-found authority on the government late Wednesday evening, trimming the Cabinet by eight ministerial posts and flexing his muscles by leaving out in the cold some of the most controversial individuals. Please see full Publication below for more information.

South African President Cyril Ramaphosa on 13 February 2019, signed the Competition Amendment Act (‘the Amendments’) into law. At the time of writing, the effective date of the Amendments has not yet been announced.