The Corporation for Public Deposits (CODI) was established in March 2023 and became fully operational in April 2024. As a new entity operating within a complex financial environment, we wanted to see how CODI had been embedded in the banking industry during its first year of operation and what lessons could be learned. Read

This report highlights the crucial role of banks in driving intra-African trade, facilitating capital flows, and deepening economic integration across the continent. The study unpacks systemic and banking-specific challenges such as regulatory fragmentation, currency volatility, limited correspondent banking networks, infrastructure deficits, and stringent compliance requirements. These barriers increase the cost and risk of cross-border operations. However, within these challenges lie significant opportunities for banks that move early and strategically, particularly in trade finance, structured lending, digital payments, and SME-focused financial solutions.

South Africa occupies a unique position in the global critical raw materials landscape, not only through traditional mining, but through the untapped potential of secondary sources such as coal mine dumps, tailings, and acid mine drainage. As demand for critical minerals accelerates with the global energy transition, these legacy coal assets present an opportunity to finance environmental remediation, drive industrialisation, and reposition coal within a science-led, value-extractive framework. Realising this opportunity, however, requires intentional investment in research, mapping, and downstream manufacturing to ensure South Africa captures value within a narrowing global window.