South Africa’s central bank plans cash-management company by 2024

South Africa’s central bank: The South African Reserve Bank serves as the country's central bank, overseeing monetary policy, financial stability, and the issuance and management of currency. It is actively developing a dedicated cash-management company scheduled for launch by next year to handle white-label ATMs and improve circulation oversight. This move directly addresses challenges in making cash services more affordable and accessible across the nation. ATM Expansion: White-label ATMs will be introduced to broaden physical cash access points. Oversight Enhancement: Tighter monitoring of money circulation is intended to reduce costs for consumers and businesses. Cash Management Initiative: The central bank is creating a specialized utility to streamline cash handling and distribution.