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🌍
Jurisdiction
South Africa
📅
Effective Date
2026
Jan 1, 2026
✅
Full Compliance
2028
Jan 1, 2028
🏛️
Regulator
South African Reserve Bank
Overview
South Africa is developing an Open Finance framework through the IFWG (Intergovernmental Fintech Working Group). It will require financial institutions to provide secure API access to consumer data.
Scope & Coverage
BankingInsuranceInvestments
Key Requirements
1
Industry-led standards2
Regulatory oversight3
Consumer consent framework4
Data protection complianceKey Notes
IFWG driving development. Industry sandbox and pilot programs active.
Official Resources
Related Regulations
Other open banking frameworks in Africa:
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