8 November 1996


First South Africa Corp., Ltd.
P.O. Box HM 666
Clarendon House
Church Street
Hamilton HM CX


Dear Sirs

We have acted as special  legal  counsel to First South Africa  Corp.,  Ltd., in
connection  with  its  filing  of  a  Post-Effective  Amendment  No.  1  to  its
Registration  Statement  on Form  S-1  (File  No.  33-99180,  the  "Registration
Statement").

We hereby consent to the reference made to us under the caption "Legal  Matters"
in the prospectuses contained in the Registration Statement.

Yours faithfully,



/S/CONYERS DILL & PEARMAN
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    Conyers Dill & Pearman