Instant payments are key to growing the regional economy, but the use of the US dollar adds unnecessary costs.
Browsing: Tim Masela
The Reserve Bank is working to drive financial inclusion by digitising cash and making instant payments across borders an everyday reality.
Financial inclusion requires that non-banks be able to clear and settle payments, the Reserve Bank has told TechCentral.
FNB now facilitates real-time cross border payments in South Africa, Namibia, Lesotho and Eswatini.
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