Together with the low interest rate environment, this led to a significant increase in lending to the private sector, with a growth of between 30–40 percent during the period. The removal of foreign exchange controls, particularly on lending to non resident companies also supported the strong growth.
Various changes and upgrades to the SAMOS framework have been implemented since 1998, including facilities for the South African financial markets to conform to international best practice with the introduction of the principle of delivery versus payment (DVP) for settlement of equity, bond and other financial market transactions. The second milestone was reached with the promulgation of the NPS Act in October 1998.