Intelligence

South Africa's financial regulators have published Draft Joint Standard 1 of 2026, introducing comprehensive requirements for identifying and vetting beneficial owners of financial institutions. Stemming from the country's 2023 FATF greylisting, this regulatory framework aims to prevent criminals from acquiring ownership or control of banks, insurers, and other regulated entities. How will these new fit-and-proper requirements, reporting obligations, and governance standards reshape beneficial ownership com

As telecommunications companies in Africa explore banking licences and payment platforms begin offering credit alongside debit services, the traditional boundaries separating banks from non-bank entities are dissolving. When does a mobile money platform cross the threshold into banking territory, and how should regulators respond when the customer journey becomes simpler but the underlying legal architecture grows more complex?

Africa hosts less than 1% of global data centre capacity despite representing nearly 20% of the world's population, creating a critical infrastructure gap as the continent seeks to participate in the AI-driven global economy. South African policymakers and utilities are now actively courting hyperscale operators, with Finance Minister Godongwana declaring data infrastructure as critical as electricity and transport networks. For lenders and legal practitioners, this surge presents complex opportunities requ

The South African Reserve Bank's Cash Smart Strategy challenges the assumption that digital payments will replace cash, instead proposing a hybrid system where both coexist. As digital infrastructure expands unevenly across South Africa's diverse economic landscape, the strategy addresses how to maintain affordable and accessible cash while modernizing payment systems, raising critical questions about financial inclusion, regulatory oversight, and the future of payment infrastructure in emerging markets.

Recent litigation between the South African Reserve Bank and fintech company Kastelo has brought exchange control compliance and crypto arbitrage under intense regulatory scrutiny. The case raises critical questions about how fintech business models involving cross-border transactions, foreign exchange, and digital assets must navigate South Africa's evolving regulatory framework, particularly regarding the use of individual foreign investment allowances for commercial purposes.

South Africa is preparing to implement mandatory central clearing for certain over-the-counter derivatives by 2028, marking one of the most significant regulatory changes to its derivatives market in over a decade. The South African Reserve Bank has confirmed that the framework will initially apply to rand-denominated interest rate swaps and forward rate agreements, with additional derivative classes to be introduced gradually. Market participants across the financial services industry will need to assess t