Payments Project


The SADC Banking Association is mandated by the Committee of Central Bank Governors in SADC (CCBG) to house and operate the Payment Scheme Management Body for Banks that settle transactions over the SADC RTGS called SIRESS. The SADCBA is therefore a regulated by the CCBG.


The SADC-RTGS (formerly known as SIRESS) is the regional cross-border real-time gross settlement (RTGS) system in the SADC region. SADC-RTGS is an automated interbank settlement system operated by the SARB, as appointed by the SADC participating member central banks. Participants in SADC-RTGS include central banks and financial institutions, i.e. banks and non-banks in the SADC region that are authorised by their respective central bank to participate.

Membership comprises of 16 countries namely, Angola, Botswana, Comoros, Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Tanzania, Zambia; and Zimbabwe.

In 1992, Member States signed the SADC Treaty committing the regional group to work together in order to: Achieve development and economic growth, alleviate poverty, enhance the standard and quality of life of the people of Southern Africa, and support the socially disadvantaged through regional integration. The SADC-RTGS payment platform went live on 22 July 2013 with High Value Payments.

There are currently 85 participating banks made up of 77 commercial banks and 8 central banks. Banks within the region continue to join SADC-RTGS. As at end of May 2020, the total number of transactions settled is 1,790,192 representing the value of ZAR 7.07 Trillion.

Banks and non-banks interested in joining the SADC-RTGS may contact Mrs. Alison Sloane at or click on these documents.

Note 1:  all Operational Notices and Statistics can be found on the CCBG website:

In support of regional financial integration, the CCBG’s Payment subcommittee, through the SADC BA, is providing commercial banks in SADC with the opportunity to inform the development of financial market infrastructure to support inter and intra-regional trade. Being in the cooperative (non-competitive) space, the focus of the SADC BA’s interventions are defining payments instruments, business rules, and messaging standards in the interbank space. The Board of the SADC BA embraces this opportunity and is keen that efforts on this initiative translate to improved customer service, cost reductions, and efficiencies (higher levels of automation and STP) in the cross border payments environment.

The SADCBA's mandate

  • Set and implement regional standards for payments messaging in-line with international standards
  • Define and Develop of the regional payments instruments
  • Promote the development of interoperable systems
  • Develop business processes, rule books, operating manual, messaging guidelines, and formats in support of regional payments processing and settlement
  • Assume the role of Payment Scheme Management Body for the SADC Integrated Real Time Electronic Settlement System (SADC-RTGS) environment and execute related functions associated with this role including reporting into the Payments SADC Oversight Committee (PSOC).

SADC BA - SIRESS Participants



Seychelles (affiliate)






South Africa





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