Treasury plans to modernise the national payments system with the inclusion of digital finance.
The first key milestone in the Payments Ecosystem Modernisation (PEM) was reached in November 2025, with the establishment of PayInc.
Presenting Budget 2026, finance minister Enoch Godongwana explains that PayInc will provide open, shared digital payments infrastructure to support operability across various payment providers, serving as the main platform for high-value and retail transactions.
Treasury plans to enable the inclusion of crypto asses in the capital flow management regime and will soon publish draft regulations under the Currency and Exchanges Act.
“Crypto assets will now be governed in the cross-border movement of capital framework, which will be complementary to regulations already in place to prevent the use of crypto assets to launder money and commit fraud,” Godongwana says.
Cross-border capital flows are a core object as Treasury seeks to ensure the financial sector supports regional integration and the implementation of the Africa Continental Free Trade Agreement.
“National Treasury is easing restrictions on the cross-border flows of capital by enabling domestic asset managers to manage portfolios of foreign assets,” Godongwana says. “This will improve competitiveness and allow South Africa to function as a hub for investment into the continent.