South Africa's financial sector is seeing major shifts this month, from the South African Reserve Bank SARB taking a direct stake in PayInc to the South African Revenue Service Sars celebrating a significant court ruling in its R5.3 billion damages case against Sasfin Bank.
Together, these developments signal a tightening of financial oversight and a step toward modernising South Africa's banking and payments systems.
According to BusinessTech , the SARB has officially acquired a 50 shareholding in PayInc, formerly known as BankservAfrica , marking a strategic move to modernise South Africa's payment system.