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B20 South Africa Takes the Helm in Amplifying Africa’s Role in Global Business Affairs

Today, South Africa makes history as it assumes the Presidency of the Global 20 (G20) and the Business 20 (B20) marking a significant milestone for Africa and the Global South. This Presidency caps four consecutive years of leadership from the Global South before the baton is passed to the United States in 2026.

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Tito Mboweni: A South African and world leader

Tito Mboweni, as the Minister of Labour, the eighth governor of the South African Reserve Bank and as finance minister set in place many of the policies and regulations that shaped our economy and the banking sector, for the better. For his incredible and meaningful contribution, we are deeply grateful.

South African business aims to increase trade and investment with Nigeria

South African business aims to increase trade and investment with Nigeria, given that trade flows from the West African nation are currently dominated by crude oil imports. The South Africa-Nigeria Joint Ministerial Advisory Council on Industry, Trade and Investment (JMACITI) is a public private partnership launched by the two governments and business at the end of 2021, to highlight opportunities and address market access and operational issues between the countries.

The 2024 Medium Term Budget Policy Statement

The Medium Term Budget Policy Statement (MTBPS) had to put in place the policies needed to turn increasing confidence in South Africa into investment opportunities in the economic infrastructure necessary for business growth and job creation. It succeeded.

FATF Greylisting: South Africa’s Positive Progress as at October 2024

The Financial Action Task Force (FATF) Plenary today announced nine upgrades for South Africa from its 22-item Action Plan, including eight to “largely addressed” and one to “partly addressed”. South Africa is now deemed to largely or fully address 16 of the 22 action items in its Action Plan, leaving the country with six outstanding action items to be addressed for the last scheduled reporting cycle, concluding in February 2025.

A Tribute to Former Minister Tito Mboweni

It is with deep sadness and a profound sense of loss that the Banking Association South Africa (BASA) extends its heartfelt condolences to the family, friends, and colleagues of Former Minister Tito Mboweni. His passing marks the end of a remarkable era in South Africa’s financial and economic landscape.

SABRIC Reports Significant Increase in Financial Crime Losses for 2023

The South African Banking Risk Information Centre (SABRIC) has released its Annual Crime Statistics Report for 2023, revealing a concerning rise in financial crime that has resulted in the loss of almost R3.3 billion. These crimes, which include digital fraud, card fraud, and contact crimes, continue to undermine economic growth in South Africa.

The African Development Bank Group, African Guarantee Fund and the South African Financial Sector Gather to Address the $5 billion access to finance Gap Faced by Women Entrepreneurs in South Africa

Johannesburg, South Africa – 15 October 2024 – The African Development Bank Group (“the Bank”) and the African Guarantee Fund (AGF), in collaboration with the Banking Association South Africa (BASA), officially launched the Affirmative Action for Women in Africa (AFAWA) Finance Series today in Sandton.