Trading under the AfCFTA will begin in July. The EPA between the Southern African Customs Union (made up of Botswana, Eswatini, Lesotho, Namibia and SA) (SACU) and Mozambique (together SACUM) and the UK will replace the current legal framework for SACUM-UK trade under the EU-SADC EPA if and when the UK leaves the EU customs union.

Significant changes regarding the taxation of expats is expected from March 2020. 

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The 1965 Domestic Arbitration Act will be replaced by an updated version which will be released for comment.

The long-awaited Companies Amendment Bill may come into force.

All the amendments to the Competition Act will be enacted. Read more The regulator will remain focused on creating a more inclusive economy and deconcentrating high levels of ownership. There may be an increase in the number of complaints relating to buyer power & price discrimination. As a further consequence of the Competition Amendment Act coming into effect, it is also expected that extensive conditions, particularly in relation to public interest concerns will continue to play a major role in merger assessments. These concerns primarily relate to employment, the promotion of a greater spread of ownership and the ability of small and medium businesses to effectively participate within a market.

A significant overhaul of the financial provisioning framework is anticipated once the 2nd draft Financial Provision Regulations are finalised. Read more These 'replacement' regulations propose a 'sustainable end state' in respect of mine closure, which represents a mind shift from classic mine closure to focussing on a transitional economy. Significant proposals in respect of the GHG reporting framework may also come into force in 2020. Read more This aims to assist SA in meeting its international obligations in relation to climate change mitigation and the emission data will facilitate the determination of the associated tax liability, under the Carbon Tax Act. The Department of Environment, Forestry and Fisheries has a draft Climate Change Bill in Parliament which, when promulgated, will formulise the country's carbon budget market. The National Environmental Management Amendment Bill (NEMLAA 4) may also bring significant changes to the environmental legislative landscape if finalised in 2020.

The Cybercrimes and Cybersecurity Bill as well as the Protection of Personal Information Act may come into force in 2020. The policy on High Demand Spectrum and Policy Direction on Licensing of a Wireless Open Access Network may also gain some momentum in 2020. Read more.

Given the constitutional challenge by the Coalition for Effective Copyright and the U.S. government’s position on the Copyright Amendment Bill, the President is expected to refer the controversial Bill back to Parliament for reconsideration in 2020.

Employers can expect the full implementation of the new parental and related leave regime. Although the regime's legislation has been signed into law, full commencement of the legislation is only expected in early 2020.

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The Expropriation Bill, which intends to provide a way for the government to expropriate property for public purposes or in the public interest and to provide for a procedurally fair process for expropriation, and the Regulation of Agricultural Land Holdings Bill, which aims to prohibit the sale of agricultural land to foreign persons and only permit foreign persons to enter into long-term lease agreements, will continue to be discussed over 2020.

Changes to the regulatory framework for public procurement may emerge in 2020 to consolidate and simplify the fragmented legal and policy environment.

Although the National Health Department's latest annual performance plan indicates that the final National Health Insurance Bill is likely to come into effect before March 2020, fiscal issues raised by the National Treasury makes 2020 implementation seem unlikely. Given that taxes are a key funding source, and tax revenue collections are low, there are significant concerns from various stakeholders (including medical schemes, healthcare providers and treasury itself) regarding the feasibility of the Bill. Regulation of CBD-containing medical/health products seems likely.

The SARB, together with the FSCA, will establish an innovation hub for the regulation of fintech and innovative financial products and services. The innovation hub is set to come into operation in the first half of 2020 and will include: a regulatory guidance unit where innovators can engage with the regulators; and a regulatory sandbox to allow innovators to test their products and services in a 'live' environment with specific regulatory relief.

The Conduct of Financial Institutions Bill (CoFI) could be enacted in 2020. CoFI, with a focus on treating customers fairly, will replace existing conduct provisions in financial sector laws and aims to build a reliable, strong and effective market conduct legislative framework for all institutions carrying out financial activities.

In 2020, we may see some traction of the FSCA draft general exemption that proposes to exempt managers and auditors of collective investment schemes and their portfolios from those parts of section 74(1)(a) and (2)(c) of the Collective Investment Schemes Control Act (CISCA). The sections require the manager and auditor of a CIS to ensure that AFS are prepared in conformity with GAAP. The draft general exemption makes a distinction between the accounting standards applicable to managers and auditors in respect of the collective investment schemes themselves (which entails full IFRS and IAS application) and the accounting standards applicable to managers and auditors in respect of the individual portfolios within the collective investment schemes (which entails a limited or "fit for purpose" IFRS and IAS application).

We also expect to see the first designation of financial conglomerates in terms of the FSR Act during 2020.

Since 2002, persons/entities rendering financial services in SA must be authorised as Financial Services Providers (FSPs) in terms of the Financial Advisory and Intermediary Services Act (FAIS Act). Such FSPs, as well as their appointed key individuals and representatives must comply with the Fit and Proper Requirements for Authorised Financial Services Providers issued in terms of Board Notice 194 of 2017 (Fit and Proper Requirements). The Fit & Proper Requirements apply irrespective of whether an entity/person is South African or domiciled, ordinarily resident/registered offshore, and includes, amongst others, requirements relating to Continuous Professional Development (CPD) to be undertaken in SA. Foreign FSPs, key individuals and representatives who are members of foreign professional bodies, have recently been granted some leniency in respect of CPD, in that CPD offered by foreign professional bodies will in future also qualify as CPD for purposes of compliance with the Fit & Proper Requirements.

The Insurance Act came into effect on 1 July 2018 and prescribes the relicensing of all insurers that are currently registered as a long-term or short-term insurer in terms of the Long-Term or the Short-Term Insurance Acts, respectively. The relicensing process is expected to take place between 1 January 2020 and 1 July 2020 in respect of active registered insurers. Once licenced, the provisions of the Insurance Act, including in respect of specific classes or sub-classes of business which may be underwritten, will apply to such insurers.

Cell captive insurers, being a type of insurer that only conducts insurance business through cell structure arrangements, has never been formally regulated in SA, other than though the licencing conditions imposed on a traditional insurer. The Insurance Act, however, now provides for cell captive insurers as a separate kind of insurer, and we expect a draft Conduct Standard regulating cell captive insurers to be published during 2020.

The market awaits a further round of renewables procurement under the Renewable Energy Independent Power Producer Procurement Programme, which was announced (with no definitive timing) on several occasions by the previous Minister of Energy prior to the release of the IRP. In the wake of the IRP publication, it is anticipated that this fifth round will be launched during the coming year, although the exact timing and framework (including potential changes in some of the requirements from previous rounds) remain unclear.

Government has indicated that it will aim to rejuvenate the mining sector with a focus on policies aimed at creating sustainable near mine communities and driving the formation of subsidiary industries to improve the longevity of such communities.

Government may also introduce a bespoke Bill into parliament aimed at regulating the upstream oil & gas sector - following the recent success of the Brulpadda off shore well.