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Big changes for ATMs in South Africa | SA News


South Africa’s central bank plans the biggest overhaul of the nation’s cash system in decades, moving to create a cash-management company, roll out white-label ATMs and tighten oversight of how money circulates to make it cheaper and easier to access.

Cash moving through Africa’s biggest economy tops 180 billion rand ($10.7 billion), or 2.5% of gross domestic product, and accounts for about two-thirds of all transaction volumes even as digital payments grow.

Managing, transporting and securing physical money cost…

Durban July: One of the biggest horse racing events in Africa, the Durban July
combines fashion and horse racing in a glamorous setting.

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