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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 South African Reserve Bank, 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.
Banks and non-banks interested in joining the SADC-RTGS may contact Mrs. Alison Sloane at alisons@sadcbanking.org or click on the link below:
https://www.sadcbanking.org/payments-project/