The Reserve Bank pioneered Project Khokha to drive consensus and adoption of blockchain systems in South Africa’s financial sector, a highly proactive action similar to other astute emerging markets such as Dubai and Singapore.

Telecoms minister Siyabonga Cwele has strongly suggested that the South African government stands ready to intervene on MTN Group’s behalf over the more than $10-billion in demands placed on the telecommunications provider by Nigeria.

Business confidence has declined to the lowest level this year as industries raised concern about policy uncertainty, including the ruling party’s plan to change the constitution.