Pradeep Maharaj, the executive director of the Reserve Bank's payment system modernization program, discusses the significance of cash usage in South Africa and the associated costs, revealing that South Africans pay R90 billion annually to facilitate cash transactions.

In March, Revolut applied for a U.S. national banking charter as part of its expansion strategy. Subsequently, the British fintech company announced that South Africa would be its first African market, with plans to launch in 2028, pending regulatory approval.

Lesaka has announced a delay in its acquisition of Bank Zero, pushing the deadline to 2027 due to lagging regulatory approvals. The acquisition is valued at R1.1 billion.

In early May 2026, anti-immigrant protests occurred in major South African cities, raising concerns about rising xenophobia in post-apartheid South Africa. President Cyril Ramaphosa urged citizens to show solidarity with their African neighbors, while foreign governments expressed their discontent. Police were deployed to manage the situation and prevent violence during the demonstrations, which featured participants in traditional Zulu attire, as seen in Johannesburg on April 29, 2026.

According to TechCabal, South Africa's largest banks are adopting mobile services to enhance customer engagement and expand their user base. This shift is seen as a strategy to generate new revenue streams amid a stagnating banking market, as banks aim to integrate more deeply into customers' daily digital activities.

The South African Reserve Bank (SARB) leading indicator has decreased by 1.8% on a monthly basis. This follows a rising trend that began in April 2024. Notably, the year-on-year increase for March 2026 was reported at 5.8%, marking the highest level since October 2021.