The central bank of South Africa responsible for overseeing monetary policy and financial stability.
Why Wise chose South Africa as its first African market
Wise has received conditional regulatory approval from the South African Reserve Bank to operate in South Africa. The company will operate as a Category 2 Authorised Dealer in foreign exchange with a limit of $50,000 per user per year.
Wise Secures Conditional Approval in South Africa for Cross Border Payments
Wise has received conditional approval from the South African Reserve Bank to operate in South Africa. This marks Wise's first entry into the African market, allowing it to offer international money transfer services.
TymeBank Appoints Cheslyn Jacobs as New CEO
TymeBank received approval from the South African Reserve Bank to appoint Cheslyn Jacobs as CEO effective January 1, 2026. Cheslyn Jacobs is a founding member of TymeBank and has extensive institutional knowledge.
Revolut Seeks Banking License in South Africa
Revolut announced plans to apply for a commercial banking license in South Africa. The announcement coincided with the opening of Revolut’s new global headquarters in London.
South Africa Opens National Payment System to Fintechs Under SARB Modernisation Drive
SARB announces that non-bank fintechs will have direct access to the National Payment System for the first time. This decision is part of SARB's Payments Ecosystem Modernisation framework aligned with Vision 2025.
