High Court rules on SARS’s R5.3bn claim against Sasfin Bank
The judgment dismissed parts of Sasfin’s exceptions and left SARS’s statutory claim under the Financial Sector Regulation Act to proceed.
SARB
SARB’s new exchange control rules draw criticism
The Institute for International Tax and Finance says the latest exchange control changes could discourage foreign investors and add red tape for non-residents.
SARB sanctions money transfer service for FICA non-compliance
The South African Reserve Bank cites deficiencies in Access Forex’s RMCP, customer verification, and staff training.
SARB seizes vehicles and personal effects from Markus Jooste’s estate
The South African Reserve Bank declares five vehicles, jewellery, and art from the estate forfeit under the Exchange Control Regulations.
SARB and Treasury align on 3% inflation objective as repo rate holds
Governor Kganyago signals target reform ‘as soon as is practical’ while policymakers pause cuts.
SARB moves to liquidate community bank
Ditsobotla is in worse financial shape than previously thought, and the resolution process is unlikely to turn things around.
Court slaps Ithala for ignoring warnings, upholds repayment administrator’s authority
The High Court says the state-owned financier must comply with deposit controls while awaiting the Supreme Court of Appeal’s ruling.
No blanket exchange control exemption for cryptocurrencies
The SARB will publish targeted frameworks to govern cross-border crypto flows and CASP reporting, says the Minister of Finance.
SARB sees path to growth: lower inflation, de-risking, and smarter debt
Reserve Bank Governor Lesetja Kganyago says permanently lower inflation, fiscal consolidation, and reduced country risk could cut interest rates and create space for sustainable growth.
SA’s growth outlook brightens – but personal inflation could dim the gains
Old Mutual’s Johann Els says rising personal inflation could quietly erode household finances and retirement savings – making it vital to save early and more.
Community-owned bank placed in resolution as SARB steps in
Ditsobotla co-operative bank has been placed in resolution after the SARB cited regulatory breaches, financial losses, and governance failures.
SARB ramps up 3% inflation goal – Godongwana insists on due process
The Reserve Bank’s repo rate cut by 25bps to 7% signals the start of a more accommodative cycle as inflation remains firmly under control.
SARB and Ibex Holdings reach settlement ending R6.3bn forfeiture dispute
The settlement agreement lifts restrictions on Ibex’s Pepkor shares, enabling the group to drastically reduce its stake.
SARB: Two-pot system adds two percentage points to PIT growth
Even after record withdrawals, retirement fund assets expanded in the third and fourth quarters of 2024, driven by movements in financial markets.
Government opposes taking full ownership of the Reserve Bank
Treasury cautions that the forced acquisition of two million private SARB shares could breach bilateral treaties and unsettle investor confidence.
CODI hits R20bn target in first year of operation
With systems in place and 95% of depositors fully covered, CODI is stepping up its readiness to handle a potential bank failure.
Prudential Authority sanctions three banks for FICA breaches
HBZ was fined an effective R7.5m, Citibank’s fine was fully suspended, and Bank of Taiwan was reprimanded.
