South Africa
Sarb unveils new fintech push
South Africa’s central bank to investigate DLT usage for clearing and settlement; fintech roadmap will examine crypto regulation
Sarb comes to defence of Capitec after ‘loan shark’ claim
US research firm takes aim at South African lender, accusing the bank of “reckless lending practices”, but central bank maintains it is “well capitalised”
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced the Sarb’s reputation as an independent and well-governed institution against all threats – despite a turbulent political and economic backdrop
Co-operation key to cyber defence success, says Sarb deputy
Groepe says institutions need to ensure fintech interconnectivity does not cause system failure; new players should be held to the same security standards
South Africa needs to press ‘reset button’ in 2018 – Mminele
Economy floundered after political instability harmed investor confidence; South Africa should capitalise on the upswing of 2018, says Sarb deputy
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
People: PBoC deputy appointed vice-mayor of Beijing
First woman nominated as deputy governor at the Bank of Mexico; Kganyago bags IMF job; Sarb gets new MPC member
ECB dumps Steinhoff stock
Losses on holding in scandal-hit retailer may have been approximately €50 million
Sarb rejects nationalisation plan
Sarb says nationalising the central bank would increase uncertainty in an already “fragile economic situation”
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Sarb rejects postponement calls from public prosecutor
Central bank does not accept Mkhwebane’s latest court request; claims her reasoning is false and “overly exaggerated”
Confidence key for South Africa’s economic recovery – Kganyago
Consumer confidence has been “sapped”, but governor remains optimistic nation can “turn things around” by implementing investor-friendly policies
Too soon to start celebrating economic improvements, says Mminele
Sarb deputy warns against complacency in latest economic roundup, saying it is too soon to start celebrating lower inflation and a more stable external environment
Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon; both internal and external threats remain
Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
Sarb returns to court amid secret meeting claims
New court documents allege South Africa’s public protector might have had “ulterior purpose”; secret meeting with presidency revealed
Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp; deputy governor says current ‘implicit’ deposit protection not sufficient
Sarb gains greater regulatory oversight
President Zuma signs ‘twin peaks model’ into law, granting central bank powers to mitigate risk and shore up financial stability
Sarb expands financial supervision
Deputy governor explains the Sarb’s new financial supervisory structure, and indicates it may affect central bank independence
Court dismisses ‘irrational’ Sarb mandate challenge
Judge finds South African public protector’s attempt to change the Sarb’s mandate was illegal, irrational and unfair
Sarb denies fintech firms have joined ‘sandbox’
South African central bank denies claims a blockchain start-up has been accepted into the scheme, as it does not currently exist; a working group is in discussions on feasibility
Kganyago: monetary policy can't solve South Africa’s structural issues
Governor defends mandate, saying Sarb is focusing on what it “can do”, not “what it would like to do”; no “narrow focus”
Sarb takes action amid ‘extremely weak’ demand
Central bank revises down its forecasts as economic situation deteriorates; governor warns of possible cliff effect if there are further rating downgrades
Kganyago says public protector’s response was ‘not good enough’
Response to central bank’s challenge exposed Mkhwebane’s “own lack of competency”, Sarb governor says, reiterating that the central bank’s mandate should be “left alone”