News
Covid-19
Lessons
With both a health crisis and a mobility crisis, caused by the restrictions of a National State of Disaster, the financial sector adapted their contingency plans for a financial crisis, to place the customer at the centre while rapidly shifting to a work from home environment for everyone, never anticipated by a highly regulated and conservative sector. This research covers the impact of Covid-19 on the financial sector in South Africa.
Read MoreMTB Policy Statement 2022
Read MoreSABRIC ANNUAL CRIME STATS 21
Read MoreFIC Recovers R5B Criminal Assets
The Financial Intelligence Centre’s (FIC’s) focus on providing and deriving value from its partnerships and collaborative efforts has seen its financial intelligence assisting in the recovery of more than R5 billion in criminal assets during the 2021/22 financial year (click here to access the annual report).
Read MoreTransformation Report 2022
Banks continued to meet many of the empowerment and transformation targets set in the Financial Sector Code (FSC), despite the severe economic contraction of -6,4% experienced in 2020, which reduced opportunities for job creation and inclusive economic growth.
Read MoreUbank Under Curatorship
On 16 May 2022 the Minister of Finance, in consultation with the Prudential Authority (PA), placed Ubank Limited (Ubank) under curatorship with immediate effect. This was done to help protect Ubank’s customers and the financial services sector while the bank finds a potential investor to restore its capital position to an acceptable level as required by the PA.
Read MoreThe National Budget 2022
The Minister of Finance, Enoch Godongwana, has made good use of South Africa’s tax windfall by committing to reducing debt while providing necessary social support to the country’s most vulnerable.
Read MoreRenewable Energy Initiative
South African banks are in principle ready to finance, on appropriate terms, independent power producers who make use of a proposal that Eskom-owned land in Mpumalanga be leased to renewable energy developers.
Read MoreFSL AMENDMENT BILL [B15B-2020]
While reviewing the FSLAB we have unfortunately picked up what we consider to be a drafting oversight that was not immediately obvious. We do not believe that this issue means that the legislator differs from a substantive point of view and instead consider the issue to be relatively easily rectifiable.
Read MoreSustainable Finance Conference 2021
The association is hosting the Sustainable Finance Conference 2021 to highlight the role of the financial services industry in supporting sustainable development in South Africa. The conference will focus on sustainable social and environmental development, as well as the outcomes of the 2021 United Nations Climate Change Conference (COP26).
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