Operation Phumelela welcomes today’s Budget announcement of a Synthetic Financial Centre (SFC) and reforms to enable fund managers to manage global portfolios efficiently from South Africa. These will significantly improve the competitiveness of the South African financial sector in attracting global investment and managing South Africans’ international savings.
The Medium-Term Budget Policy Statement showed National Treasury is on track to stabilising the country’s finances, which will support investor confidence by demonstrating that financial risks are being well managed.
Operation Phumelela today welcomes the Financial Action Task Force’s (FATF) decision to remove South Africa from its grey list of jurisdictions under increased monitoring, marking a pivotal achievement in the nation’s commitment to financial transparency and integrity.
The South African Financial Sector Competitiveness Taskforce, known as Operation Phumelela, welcomes the announcement by the Financial Action Task Force (FATF) that South Africa has substantially completed all 22 action items required of it when it was grey listed by the global anti-money laundering and terrorist financing body in February 2023.
The inaugural Operation Phumelela lekgotla, held on 2 June 2025 at the JSE, brought together senior leaders from industry and government, including regulators, to develop proposals aimed at strengthening the competitiveness of South Africa’s financial sector.
The inaugural Operation Phumelela lekgotla, held on 2 June 2025 at the JSE, brought together senior leaders from industry and government, including regulators, to develop proposals aimed at strengthening the competitiveness of South Africa’s financial sector.
Krutham executive chairperson Dr Stuart Theobald, joins Michael Avery on Classic Business to discuss the Operation Phumelela Lekgotla.
Senior leaders across South Africa’s financial sector are due to gather with policy makers, regulators and academics at the inaugural Operation Phumelela Lekgotla, taking place on Monday, 2 June 2025, at the JSE in Sandton.
A group of senior leaders in the South African financial services industry has formed The South African Financial Sector Competitiveness Taskforce, known as Operation Phumelela, to improve the capital markets’ ability to grow the economy, create jobs and increase services exports.
