Browsing: South African Reserve Bank

Banking
Bank Zero begins trial runs

Former First National Bank CEO Michael Jordaan’s new financial services venture, the app-driven Bank Zero, has been integrated with the national payments system and will now begin trial runs ahead of commercial launch.

News
Cryptos are tokens, not currency: SA Reserve Bank

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

News
Bank of Baroda said to face probe over Guptas

Bank of Baroda is being investigated by South Africa’s central bank over money held for companies controlled by the politically connected Gupta family, according to a person familiar with the matter. The South African Reserve Bank’s probe

Current affairs
Politics may stop first SA rate cut since 2012

A stronger rand and falling inflation expectations may allow South African Reserve Bank governor Lesetja Kganyago to start cutting interest rates this year as long as political developments don’t derail the currency’s gains. Higher commodity prices and

News
And now for the electronic rand?

The South African Reserve Bank is open to issuing a national digital currency, which would likely be based on blockchain or distributed ledger technology. “If we go the route of issuing a digital currency, the objective would be to take

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