Behind every salary payment, ATM withdrawal, online purchase and stock market trade in South Africa sits a financial system that most people never see.
Yet that invisible network moves an average of R584 billion ($32.4 billion) every day, making it one of the most important pieces of financial infrastructure on the African continent.
The South African Reserve Bank (SARB) is now modernising that infrastructure as digital payments, instant transfers and cross-border financial services reshape how money moves around the world.
At the centre of the system is the South African Multiple Option Settlement (SAMOS) platform, which serves as the final settlement layer for transactions between banks.
According to SARB Deputy Governor Rashad Cassim, around 90% of the value flowing through the platform is settled in real time. The scale of activity shows South Africa’s position as Africa’s largest and most sophisticated financial market.
