The South African Reserve Bank has published the 2025/26 annual report of the Corporation for Deposit Insurance, showing the first live use of South Africa’s deposit insurance scheme since CODI became operational in April 2024. After Ditsobotla Primary Savings and Credit Co-operative Bank Limited was placed into resolution on 1 August 2025, CODI reimbursed covered depositors within the legal timeframe, paying about R7 million over 20 days. The report also shows the Deposit Insurance Fund reached R22 billion by 31 March 2026, while CODI continued building its operational readiness to shorten future payout timelines. A key operational change was the implementation on 1 October 2025 of an information technology solution to collect single customer view data from banks, intended to improve depositor data quality and support reimbursement within seven days after a payout trigger, in line with international standards. As of 31 March 2026, CODI had 35 member banks and continued to protect covered deposits up to R100 000 per qualifying depositor per registered bank. In the Ditsobotla case, 429 qualifying depositors had covered balances, about 99% were fully covered, and most had been reimbursed by 31 March 2026, with outstanding cases mainly linked to missing information or further verification. The report also highlights a September 2025 consultation on changing the Deposit Insurance Fund structure to reduce reliance on bank loan funding, alongside proposed legislative amendments to strengthen CODI’s access to depositor data and its ability to conduct reviews at banks. Over the next financial year, CODI plans further systems development to reduce its resolution support timeframe from 20 days to seven days, continue consultations on the fund’s composition, appoint additional payout agent banks and complete the appointment of external fund managers for the Deposit Insurance Fund.
South African Reserve Bank2026-06-29
South African Reserve Bank deposit insurer reports first depositor payout and R22 billion deposit insurance fund
The South African Reserve Bank’s deposit insurer, the Corporation for Deposit Insurance, reported its first depositor reimbursement after Ditsobotla was placed into resolution, paying about R7 million within 20 days. The annual report shows the Deposit Insurance Fund reached R22 billion and highlights new single customer view data collection to support faster payouts. CODI is also consulting on changes to the fund’s structure to reduce reliance on bank loan funding.