#Reserve Bank

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.

On 19 June 2026, the South African Reserve Bank inaugurated its new museum, with the ceremony attended by Governor Lesetja Kganyago and President Cyril Ramaphosa.