Row rect Shape Decorative svg added to bottom RISK MANAGEMENT | April 2026 No New JIBAR Prohibition Absa | Corporate and Investment Banking > Insights and Events > No New JIBAR Prohibition SHARE With nine months remaining until the formal cessation of the Johannesburg Interbank Average Rate (JIBAR) on 31 December 2026, the South African Reserve Bank Prudential Authority (SARB PA) and the Financial Sector Conduct Authority (FSCA), together “the Authorities”, have issued a joint communication instructing financial institutions to stop initiating new JIBAR-linked transactions, products and exposures from 1 May 2026. This forms part of the broader market transition from JIBAR to the South African Rand Overnight Index Average (ZARONIA), the recommended alternative reference rate. Regulatory update for market participants: Zaronia Carousel Cross-border payment mechanisms are central to Africa’s regional integration agenda. At Absa, we see them as the foundation for deeper trade, investment, and financial inclusion. Download Carousel https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles RISK MANAGEMENT The business playbook for a stronger rand Chris Paizis, Head of Client FX and International Banking at Absa CIB, outlines the options for corporate treasurers when the rand strengthens against the US dollar. Read more RISK MANAGEMENT How Finance Can Help Build More Integrated African Supply Chains If one were to speak to African suppliers who trade across borders, many would say that doing business within the continent can feel riskier than exporting beyond it. Especially for small and medium-sized enterprises (SMEs), information on counterparties is not always easy to obtain, regional currencies can be volatile and difficult to hedge, forward markets offer little depth, and access to affordable finance is often limited at precisely the moment it is needed most. Read more RISK MANAGEMENT What Bidvest’s Eurobond Tells Us About the Maturation of SA’s Debt Capital Market The international high-yield bond market functions as one of the largest and most technically evolved sources of corporate funding in the global financial system. Read more
