South Africa’s financial regulators urged to adopt tiered licensing regime


South Africa’s intergovernmental working group for fintech has urged the country’s financial regulators to consider implementing a tiered licensing regime.

In a comprehensive set of recommendations, the working group said such a regime would “reduce barriers” to entry for fintech firms, especially for those in the retail banking, insurance, investment and capital-raising sectors.

“These licences have clear restrictions and limits to protect market stability,” the working group said in its

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