A team of finance executives in South Africa is developing proposals to facilitate foreign-currency transactions on the country's stock and bond exchanges. The goal of this initiative is to strengthen South Africa's position as a leading financial hub in the region, following a recent positive shift in its international market standing.

Leila Fourie, chair of the newly established South African Financial Sector Competitiveness Taskforce, emphasized the significance of this moment, stating that the country is at a critical turning point. The taskforce is focused on capitalizing on the current favorable conditions to enhance competitiveness both within Africa and as a gateway to the continent.