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.
#SouthAfricanReserveBank
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.
Can the SARB anchor inflation at 3% without hiking rates?
SARB economist Thuli Radebe explains how targeting lower inflation could ease borrowing costs and support growth – challenging fears that a 3% goal means more interest rate hikes.
High Court ruling on crypto exchange control suspended pending appeal
Until the appeal is resolved, the operation of the exchange control rules remains unchanged, and market participants should err on the side of compliance.
Cryptocurrencies outside Exchange Control Regulations, court rules
Legal experts anticipate a legislative response to plug the loophole and safeguard against large‐scale capital flight via digital assets.
High Court slams SARB over R200m block on Steinhoff successor’s funds
Judge finds the Reserve Bank acted without evidence or legal basis in freezing funds Ibex needed to repay offshore creditors.
R2bn Ithala guarantee sparks row over fiscal risk to KZN
The Minister of Finance’s bailout plan for Ithala’s retail depositors has drawn sharp criticism from KZN’s Finance MEC Francois Rodgers, who warns the deal’s fine print could leave the province footing a hefty bill.
Ithala’s fate hangs in the balance amid legal battles and funding disputes
Ithala depositors remain locked out of their funds while disputes over frozen accounts, strategic alliances, and government guarantees deepen.
FICA non-compliance costs bank R10 million
Absa was fined R7m for inadequate customer due diligence and R3m for delays and closures of transaction monitoring alerts.
Under pressure: navigating the financial regulatory heat in 2025
Financial institutions that proactively embed governance, technology, and culture to meet evolving regulatory standards will not only avoid penalties but also strengthen credibility, build resilience, and drive long term value.
Levies and fees weighed as PA prepares to regulate CISs and retirement funds
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
Steinhoff’s shadow still looms over Pepkor as SARB freezes shares
The SARB freezes 506 million Pepkor shares held by Ainsley, a subsidiary of Ibex, which took over Steinhoff’s assets and liabilities following its liquidation.
KZN Treasury’s R2.4bn loan request raises more questions than answers
As the KwaZulu-Natal government scrambles to keep Ithala afloat, its urgent request for a R2.4 billion loan from National Treasury sparks confusion – especially given an earlier government guarantee.
PA report contradicts Ithala and KZN Treasury’s solvency claims
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
More arrests in Steinhoff saga as executives face justice
The arrest of two more former Steinhoff executives ties back to a fraudulent scheme involving a handwritten note by Markus Jooste.
