Treasury & FX in South Africa

Report date: 
27 Mar 2019

Intercompany netting settlement of payables and receivables is possible, but Central Bank approvals are required on an annual basis to do this, to make the exchange control document on each invoice easier. 

 Domestic sweeping structures between South African  entities is very common to one domestic master entity and recently a large MNC has obtained Central bank approval to cross border lend and borrow from this entity to a European treasury centre.  This process requires an annual recertification, like Interco netting.

 FX online multibank dealing systems are being used in South Africa, but getting the domestic & International banks to agree to use these platforms differs bank by bank and even corporate to corporate.


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