In a quest to embrace innovation in the fintech space, the SARB is working on several collaborative efforts under the auspices of the Intergovernmental Fintech Working Group (IFWG). Initiatives include participation in exploratory work on ‘open finance’, collaboration with innovators in the ‘regulatory sandbox’, and work on multiple central bank digital currencies (CBDCs) for international settlement through Project Dunbar.
Structural forces For the structural forces, or long-term determinants of the demand for capital and investment, it is useful to think about a typical firm’s production process. Firms combine labour, capital and technology to produce goods and services. Therefore, demographic forces that affect the growth of the labour force will also affect the demand for capital.