South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
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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.
Telkom has appointed Naidene Ford-Hoon, a former chief financial officer of the Reserve Bank, to its board.
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 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.
The South African Reserve Bank has taken a step closer to creating a national digital currency. This is after it took the wraps last week off the second phase of Project Khokha.
More engagement with the fintech industry is needed before distributed ledger technology can be incorporated into South Africa’s financial markets, according to a new report.