November 12, 1996



First South Africa Corp., Ltd.
Clarendon House
Church Street
Hamilton HM C11, Bermuda

           Re:        FIRST SOUTH AFRICA CORP.,  LTD. -  REGISTRATION  STATEMENT
                      NO. 33-99180

Gentlemen:

           We hereby  consent  to the  reference  made to us under  the  caption
"Legal  Matters"  in  the  prospectuses  constituting  part  of  Post  Effective
Amendment No. 1 to the above  Registration  Statement on Form S-1 of First South
Africa Corp., Ltd.

                                         Very truly yours,



                                         /S/ PARKER CHAPIN FLATTAU & KLIMPL, LLP

                                             Parker Chapin Flattau & Klimpl, LLP