The Banking Association South Africa

News

NCA Amendment Act

The signing into law of the National Credit Amendment Act (NCA) by President Cyril Ramaphosa is of extreme concern to the banking industry and to low-income clients of banks. The Act, in its current form, will restrict ability of banks to lend to this vulnerable market and increase the cost of credit.

Kganyago Re-appointed as Governor SARB

The announcement of the re-appointment of Lesetja Kganyago as Governor of the South African Reserve Bank (SARB) is clear commitment by the government to the independence of the South African Reserve Bank, responsible monetary policy and a stable financial system and currency.

The Fifth CYFI Summit

The Fifth Child and Youth Finance International Summit – to be held under the banner of “Economic Citizenship and Employment: A Future for All” – is being hosted in Johannesburg, from 19 to 20 June 2019.

RAMAPHOSA ANNOUNCES SMALLER CABINET

The announcement of a smaller cabinet and performance agreements for the new ministers is an important commitment by President Cyril Ramaphosa to a much needed streamlined, efficient and accountable public service.

Passwords, Malware and Why Banks Aren’t the Bad Guys

South African Banking Risk Information Centre CEO Kalyani Pillay maintains that South African banks do a great job of servicing and protecting their customers and that much of the security risks that come with banking are worsened by a lack of consumer education.

MOODY’S RATINGS DECISION GIVES SA TIME TO IMPLEMENT ECONOMIC REFORMS

The decision by Moody’s ratings agency not to review South Africa’s credit rating gives the country breathing room to fix the fiscus and take hard decisions about the structural changes needed to create an environment for investment and inclusive economic growth.

EDWARD KIESWETTER APPOINTED TO RESTORE CREDIBILITY, INTEGRITY AND OPERATIONAL EFFICIENCY OF SARS

The credibility, integrity and operational efficiency of Sars was seriously eroded during the tenure of former commissioner, Tom Moyane. Under Acting Commissioner, Mark Kingon, the work of rebuilding of Sars was started.

BLACK JUNIOR MANAGERS IN BANKS RISING

Black ownership in banks has waned as empowerment deals matured, while the number of black junior managers had jumped to 84percent in 2017. These are some of the findings contained in the Banking Association of South Africa (Basa) report on the transformation of the banking sector released yesterday.

BLACK BANK OWNERSHIP DROPS AS EMPOWERMENT DEALS MATURE

Black ownership in banks dropped from 34.8% to 30.5% between 2016 and 2017, but still exceeded the target of 25% in terms of the Financial Sector Code (FSC).

DOES THIS YEAR’S BUDGET MEET EXPECTATION? DISCOVER THE BANKING ASSOCIATION’S THOUGHTS.

The Banking Association South Africa assesses the budget on three priorities which are important to the health of the industry and its ability to facilitate inclusive economic growth and social development in South Africa.