Tag: BankingSector

The South African Reserve Bank (SARB) has published the third version of its proposed amendment to the payments regulatory framework. The amendments focus on two key instruments. These include a draft exemption notice that excludes certain payment activities from constituting “the business of a bank”, and a revised draft Authorisation Framework set out in a draft directive.

The South African Reserve Bank’s Prudential Authority (PA) has confirmed its intention to derecognise Moody’s Investors Service South Africa as an eligible external credit assessment institution (ECAI). The regulator has also introduced a 24-month transition period that will run until April 2028.

The South African financial landscape is currently undergoing one of its most significant structural shifts in decades. As a result, businesses must prioritise navigating the transition from Johannesburg Interbank Average Rate (JIBAR) to South African Overnight Index Average (ZARONIA) with urgency and precision.

Earlier in November 2025, the South African Reserve Bank announced administrative sanctions against two finance companies. Regulators imposed these sanctions after the companies failed to comply with the Financial Intelligence Centre Act (FICA).

The operating environment in 2025 remained volatile and uncertain. Geopolitical conflict, policy uncertainty and US tariffs drove this instability. Closer to home, South Africa made progress across several fronts. As a result, financial markets, corporates and individuals adopted a more optimistic outlook. The South African economy outperformed expectations. Real GDP growth more than doubled to 1.2% year on year during the first three quarters of 2025.