The transaction will see the central bank take sole ownership of the payments clearing house, which plays a critical role in processing interbank transactions. BankservAfrica is currently fully owned by South Africas commercial banks, led by Absa, FirstRand, Nedbank and Standard Bank.
The commission found that the deal is unlikely to substantially lessen competition in any market and raises no significant public interest concerns.
The Reserve Bank oversees South Africa's National Payment System NPS, which underpins every step of the payments chain, from card swipes to final interbank settlement in the central bank's books.