Sarb closes branches to optimise cash management

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The South African Reserve Bank will close three of its regional branches following a decision made by the governor’s executive council, as the central bank continues to overhaul its cash management practices.

“A review of the Sarb’s banknotes and coins distribution processes found a number of inefficiencies. The closure of some branches and the conversion of others into cash centres is aimed at addressing these inefficiencies,” a spokesperson told Central Banking.

In a statement released on De

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