Direct investment by foreigners in domestic enterprises came to R3.7 billion in the first half of 1999. These investments were neutralised to some extent by South African investments in other countries, with the result that the net inflow of capital not related to reserves, or the surplus on financial transactions with the rest of the world, totalled R7.4 billion.
1. Need for vigilance  First, the need for vigilance. By and large all of us know that banking is a public good and therefore there is little need to look for additional justification for prudential banking supervision. Because we are committed to provide banking and other financial services through the markets, we need to have a very strong regulator.