No data available for the deliverable: Modernise forex system for trade and investment to align with OECD code of liberalisation.
Summary
Modernising South Africa's foreign exchange controls involves phased liberalisation of forex regulations, regulatory updates and alignment with the OECD code and AfCFTA requirements.
View DetailsIs it working?
The reform is advancing, with incremental improvements and strong alignment with global trends. Full liberalisation is expected after 2026, as regional integration deepens.
Actions
The system is becoming more flexible and transparent, supporting trade and investment, though full liberalisation is still in progress.
Are there plans?
Regulatory changes are being implemented incrementally, with new reporting requirements and stakeholder engagement.
Is it on the agenda?
Forex modernisation is an ongoing SARB and Treasury agenda item, with regular updates and consultations.
Goals
To modernise foreign exchange controls, facilitate trade and investment and align with international standards.
Departments / Govt Institutions
Summary
Modernising South Africa's foreign exchange controls involves phased liberalisation of forex regulations, regulatory updates and alignment with the OECD code and AfCFTA requirements. SARB, Treasury, and the FSCA are reforming the foreign exchange (forex) system, liberalising it for trade/investment and updating to the OECD code through new platforms and protocols. New forex system has been tested, OECD-aligned protocols have been drafted and the banking sector is being engaged for operational rollout in Q1-2026.
Is it working?
The reform is advancing, with incremental improvements and strong alignment with global trends. Full liberalisation is expected after 2026, as regional integration deepens. Implementation is close to completion; awaiting further OECD/market feedback.
Actions
The system is becoming more flexible and transparent, supporting trade and investment, though full liberalisation is still in progress. The system is transitioning efficiently with operational guidance in place. OECD benchmarks are to be verified.
Are there plans?
Regulatory changes are being implemented incrementally, with new reporting requirements and stakeholder engagement. The rollout plan in place for phased compliance with legacy conversion of platforms and guidance for banks.
Is it on the agenda?
Forex modernisation is an ongoing SARB and Treasury agenda item, with regular updates and consultations.
Goals
To modernise foreign exchange controls, facilitate trade and investment and align with international standards.
Departments / Govt Institutions
Summary
Modernising South Africa's foreign exchange controls involves phased liberalisation of forex regulations, regulatory updates and alignment with the OECD code and AfCFTA requirements. SARB, Treasury, and the FSCA are reforming the foreign exchange (forex) system, liberalising it for trade/investment and updating to the OECD code through new platforms and protocols. New forex system has been tested, OECD-aligned protocols have been drafted and the banking sector is being engaged for operational rollout in Q1-2026.
Is it working?
The reform is advancing, with incremental improvements and strong alignment with global trends. Full liberalisation is expected after 2026, as regional integration deepens. Implementation is close to completion; awaiting further OECD/market feedback.
Actions
The system is becoming more flexible and transparent, supporting trade and investment, though full liberalisation is still in progress. The system is transitioning efficiently with operational guidance in place. OECD benchmarks are to be verified.
Are there plans?
Regulatory changes are being implemented incrementally, with new reporting requirements and stakeholder engagement. The rollout plan in place for phased compliance with legacy conversion of platforms and guidance for banks.
Is it on the agenda?
Forex modernisation is an ongoing SARB and Treasury agenda item, with regular updates and consultations.
Goals
To modernise foreign exchange controls, facilitate trade and investment and align with international standards.
Departments / Govt Institutions
No data available for the deliverable: Modernise forex system for trade and investment to align with OECD code of liberalisation.
No data available for the deliverable: Modernise forex system for trade and investment to align with OECD code of liberalisation.
No data available for the deliverable: Modernise forex system for trade and investment to align with OECD code of liberalisation.
No data available for the deliverable: Modernise forex system for trade and investment to align with OECD code of liberalisation.