News
Wildlife Trafficking Success
The South African Anti-Money Laundering Integrated Task Force’s (SAMLIT's) illegal wildlife trade (IWT) expert working group (EWG) has released its second report on the subject, and what has emerged is more than just a depiction of financial flows and criminal typologies.
Read MoreGreylisting: Positive Progress In Addressing Technical Compliance Deficiencies In South Africa’s Anti-money Laundering System
National Treasury welcomes the latest Financial Action Task Force (FATF) progress report, which indicates positive progress made by South Africa in addressing technical compliance deficiencies in its anti-money laundering system. The FATF published the follow-up report “South Africa: Follow-up Report on Technical Compliance Re-rating” (South Africa 2nd Follow-Up Report) on 28 November 2023.
Read MoreCurrency Manipulation
The case as presented by the Competition Commission is that 28 international and local banks were referred to the Competition Tribunal because of allegations that some of their currency traders were involved in manipulating rand / dollar foreign exchange rate transactions between 2007 and 2013. As it stands now:
Read MoreFinancial Forensic Analysis Centre
To bolster South Africa’s capacity to investigate and prosecute financial crime, the Banking Association South Africa (BASA) and the South Africa Banking Risk Information Centre (SABRIC) are partnering with the Directorate for Priority Crime Investigation (Hawks), to make a cutting edge digital and financial Forensic Analysis Centre available to the directorate. The centre will provide the Hawks with:
Read MoreEnergy Bounce Back Scheme FAQ
Discover the Energy Bounce-Back Loan Guarantee Scheme, a program administered by the National Treasury, and get the answers to all your questions about this initiative.
Read MoreEnergy Bounce Back Scheme
The National Treasury has launched the Energy Bounce Back Loan Guarantee Scheme (EBB) today, an initiative aimed at alleviating the impact of continuing difficulties resulting from unreliable power supply for small businesses and households.
Read MoreEnergy Loan Guarantee Scheme
In the February 2023 State of the Nation Address, President Cyril Ramaphosa, committed to “adjust the bounce-back loan scheme (BBS) to enable small businesses to invest in solar equipment”. During the 2023 Budget Speech, Minister of Finance, Mr Enoch Godongwana, provided detail on the adjustment of the Bounce-Back Loan Scheme that the “government will guarantee solar-related loans for small and medium enterprises on a 20 percent first-loss basis”.
Read MoreIFC Partnership to Boost Climate Finance
Under the new agreement, IFC will provide advisory support to strengthen the climate risk assessment, mitigation, and adaptation practices of South Africa’s banks, and help them reduce their exposure to climate change-related risks. The partnership will also promote investment in green, climate-friendly assets, in line with the country’s National Development Plan and its commitments to the Paris Agreement.
Read MoreRegulation & EMDE Capital Flows
Financial regulation within Advanced Economies (AEs) is a key driver of capital flows to Emerging Market and Developing Economies (EMDEs). Bank capital rules affect the ability of developed country banks to lend and invest in EMDE financial instruments. Trading book capital rules influence whether banks can deal in Emerging Market (EM) cash and derivative instruments, and they crucially affect the liquidity of markets in these securities. Insurer and bank capital rules affect incentives to invest in important exposures closely associated with EM trade and investment, most notably infrastructure projects.
Read MoreRFI:
White-Label ATMs
The BASA CSC White Label ATM project aims to, among others, contribute to the sustainability of cash in South Africa by creating a cost-effective, and efficient ATM solution, which also helps meet accessibility targets set out in the Financial Sector Code.
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