MTN Group’s fight with Nigerian authorities over $10-billion in repatriated funds and back taxes could increase risk in South Africa’s financial system depending on the outcome, the Reserve Bank said.
South Africa will strive to allow competition into its banking system in a way that won’t threaten the stability of the industry as more and more entrants seek to rival the nation’s biggest lenders.
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.
South Africa’s biggest bank heist took place without a single shot being fired.
The Intergovernmental FinTech Working Group (IFWG) is taking steps to formalise South Africa’s stance on fintech and innovation, aiming to produce a draft policy paper by early 2019. The paper is set to present
South Africa’s inflation rate fell in May as food prices rose at the slowest pace since 2013, reducing chances that the central bank will increase interest rates later this year. Consumer prices climbed 4.4% from a year
The South African Reserve Bank, through its fintech unit, has successfully demonstrated a real-world trial of a distributed ledger technology-based wholesale payment system. The Bank has released a report on Project
South Africa’s central bank chooses to call digital currencies such as bitcoin “cyber-tokens” because they don’t meet the requirements to be classified as money. “We don’t use the term ‘cryptocurrency’ because it doesn’t
South Africa’s inflation rate fell to seven-year low in March, moving further below the midpoint of the central bank’s target range. Inflation slowed to 3.8% from a year earlier compared to 4% in February, Pretoria-based
South Africa’s economic growth could pick up faster than forecast if the right structural reforms are implemented, the Reserve Bank said. That means the economy could expand faster than the 2% for 2020 the central