Public ID: PID-9JZ7AB

UK financial technology (fintech) now has regulatory approval to launch in South Africa

in South Africa

Trade barrier summary

The South African Reserve Bank has granted conditional approval for a UK-based payments provider to operate as a foreign exchange dealer after a 32-month delay. This milestone supports the G20 roadmap to make cross-border payments faster, cheaper and more transparent by 2027.

South African consumers and businesses will benefit from low-cost international transfers using mid-market exchange rates with no hidden markups. For UK fintech businesses, this opens new opportunities to expand services and strengthen UK–South Africa trade ties, while improving financial inclusion in Africa’s largest economy.

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Sectors affected

• Financial and professional services

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Resolved

Yes - November 2025

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Date reported

15 April 2025

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Last updated

12 December 2025

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Public ID

PID-9JZ7AB

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