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Treasury and Reserve Bank seek comment on financial centre plan

Published

National Treasury and the South African Reserve Bank published a draft framework for a Synthetic Financial Centre, which aims to make South Africa a larger global investment-management hub. The public can send written comments until 30 November.

National Treasury said a Synthetic Financial Centre would strengthen South Africa's position as a leading African financial and investment hub. Comments go to the Financial Surveillance Department of the Reserve Bank.

Stuart Theobald, executive chairperson of consulting firm Krutham, said South Africans have lost out on assets that local firms could have managed. He said this happened because assets went to financial institutions abroad as exchange controls relaxed.

Theobald said the centre would allow local companies to become specialist international financial services providers.

Key facts

Who
Stuart Theobald (executive chairperson of consulting firm Krutham); Stephen Grootes (interviewer); National Treasury (published draft framework with SARB); South African Reserve Bank (published draft framework with National Treasury; SFC comments to its…)
What
National Treasury and the SARB published a draft regulatory framework for establishing a Synthetic Financial Centre (SFC) aimed at making South Africa a larger global investment-management hub. Written comments are invited until 30 November.
When
22 October 2026
Where
South Africa
Status
Reported

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