The South African Revenue Service said ongoing power cuts have had a “debilitating” effect on the economy and revenue collection.
Browsing: Reserve Bank
South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
Government will take on a portion of Eskom’s debt in a staggered manner to avoid a spike in the country’s debt-to-GDP ratio.
The South African Reserve Bank said there had been no impact from a reported breach of its systems four months ago.
The South African Reserve Bank has raised concern about the threat an inadequate and unreliable power supply poses to financial stability.
Open banking could be a game changer on the African continent by making transactions more convenient and increasing the personalisation of banking services.
South African banks see physical money remaining key to their business as almost a third of their customers aren’t ready to go cashless, according to a survey.
The Prudential Authority has issued a “guidance note” to local banks saying they should provide banking facilities to crypto exchanges.
The South African Reserve Bank is set to bring cryptocurrencies into the regulatory oversight of the Financial Sector Conduct Authority.
Regulation of crypto assets might come into force within the next nine to 15 months, said Reserve Bank deputy governor Kuben Pillay.