SA financial system stable: Mboweni

SOUTH AFRICA - Local financial regulators are highly optimistic about the stability of the country's financial system, says Tito Mboweni, the SA Reserve Bank governor.

Addressing a meeting of the International Conference of Bank Supervisors in Cape Town, he said the challenges facing the local banking industry were being tackled "enthusiastically".

The sector was highly concentrated and there was an underlying problem of lack of broad access to basic financial service for the majority of the

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