BankservAfrica press releases

Economic transactions show rapid declines in May

The BankservAfrica Economic Transaction Index (BETI) for May reflected the most significantly noticeable monthly decline, since December 2016.

BankservAfrica hosts national payments workshop at SWIFT Arc 2018

“At last year’s conference in the Ivory Coast, BankservAfrica started the conversation on the need for a national payments design for enabling modernised economies while addressing key socio-economic issues such as financial inclusion, which is a recurring issue for many African countries, including South Africa,” says Chris Hamilton, CEO of BankservAfrica. 

Personal income tax change brings relief to SA take-home pay in April

South Africans earning below R432 300 per annum received some relief from the revised personal income tax that came into effect at the beginning of April. According to BankservAfrica’s Take-home Pay Index, this amounted to a 1.5% salary increase above inflation in April. The BankservAfrica Private Pensions Index (BPPI) for April also showed a 5% growth for privately banked pensions.

SA economy reflects growth despite April’s tax increases

The local economy continued to grow despite the various tax increases that came into effect at the beginning of April, according to BankservAfrica’s Economic Transaction Index (BETI) which reflected growth across all measurement periods in April. With consumer confidence at its strongest in Q1 2018, this reflects the economy’s growth despite the VAT changes.

Take-home pay shows steady growth in March

Growth in South African take-home pay picked up marginally, reflecting steady, yet slower growth in March, according to BankservAfrica’s latest Take-home Pay Index. This represents a recovery from 2016 when salaries were on a decline and unable to keep pace with the rate of inflation


Transactional improvements point to SA economy’s recovery

BankservAfrica’s Economic Transaction Index (BETI) reached record levels in March with the actual number of transactions increasing to over 100 million for the first time ever. This, together with the growth in transactional values suggest the South African economy is on the road to recovery with downward movements previously experienced gradually coming to an end.

BankservAfrica processes highest volume of electronic transactions in March

BankservAfrica, Africa’s largest automated payments clearing house, cleared the highest volume of electronic funds transfers (EFTs) on record in March of 89 million and at a value of R847 billion.

Take-home pay declines slightly while private pensions race ahead

Monthly take-home pay reflected a slight decline for February while private pensions continued to outperform, according to BankservAfrica’s latest monthly data.