SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
#SouthAfricanReserveBank
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
SARB seizes over R67 million from former Steinhoff executive
Stephanus Grobler, who is facing multiple charges including racketeering and fraud, is due to appear in court in February next year.
HSBC and Bidvest hit with fines for FICA non-compliance
The fines on both banks run into millions of rands, but most of the penalties are conditionally suspended.
Old Mutual fined almost R16 million for FICA violations
The Prudential Authority discovered the non-compliance during a routine inspection conducted four years ago.
Are South Africans ready for the digital payment revolution?
The South African Reserve Bank’s inaugural Payments Study Report provides extensive insights into how the public perceives and uses various payment methods and instruments.
How Ithala’s licence suspension may affect clients and operations
While Ithala remains operational for existing clients, the search for a new sponsor and regulatory hurdles pose significant challenges.
SARB sanctions insurers and bank for FICA breaches
The non-compliance was discovered during inspections by the Prudential Authority in 2020 and 2022.
Sasfin fined R160m for ‘non-compliance’ by discontinued forex business
The bank also faces a R4.9bn claim arising from SARS’s alleged inability to collect taxes and penalties from former foreign exchange clients.
How the two-pot system may impact household income and inflation
Economists assess the possible impact of the reforms on household consumption, real fixed investment, inflation, government debt, and GDP growth.
Is Jooste’s frozen estate next on the SARB’s radar?
The South African Reserve Bank has seized more than R6 billion from various Ibex Investments accounts, previously Steinhoff.
SARB sanctions life insurer for FICA non-compliance
The effective fine of R7 million and other sanctions follow an inspection conducted four years ago.
Economists forecast a repo rate cut in November
The annual inflation rate remained unchanged at 5.2% in May, but it is still some way from the Reserve Bank’s target of 4.5%.
Here’s how much SA institutions’ offshore allocations have grown
The SA Reserve Bank is concerned about the liquidity of the country’s financial markets and institutional investors’ exposure to government bonds.
SARB sanctions global bank for FICA non-compliance
The sanctions follow an inspection of the Bank of China’s Johannesburg branch three years ago.
Glimmer of hope for when the SARB will start cutting the repo rate?
Governor Lesetja Kganyago says the central bank will remain committed to reining in inflation if a new government spends more and the deficit increases.
What the SARB is waiting for before it starts cutting the repo rate
Headline inflation softened to 5.2% in April, but the upside risks remain, particularly from food prices.
