Browsing: South African Reserve Bank

The rules meant to stop capital leaving have accelerated it, says the co-founder of the country’s first rand stablecoin.

The Competition Commission has recommended approval of Capitec’s R400-million Walletdoc acquisition subject to conditions.

Barring South African companies from moving crypto assets across the country’s borders will backfire, VALR has warned.

Draft Reserve Bank and treasury rules would ban companies from moving crypto across the border, in either direction.

Exchange control rests on a 1960s view of money. It now restricts freedom, not capital flight, writes VALR CEO Farzam Ehsani.

Inflation rose by less than expected in May, which analysts said reduced the likelihood of another interest rate hike.

Inflation hit 4% in April as the Iran war lifted fuel costs, prompting the Reserve Bank to tighten monetary policy.

The Reserve Bank has lifted the repo rate by 25 basis points to 7%, citing a sharp jump in fuel prices.

Developer PayInc has acknowledged that fees and inconsistent bank UX have slowed PayShap adoption.

South Africa’s key inflation number hit 4% in April, with fuel prices still rising and interest rate hikes now looking likely.