# Economists are warning about the risks of South Africa being cut off from the global Society for Worldwide Interbank Financial Telecommunication system. Last week, Finance minister Enoch Godongwana reportedly expressed concern about being cut off from the system through US-led sanctions against the country. SWIFT allows banks globally to fast-track payments and ensure they are safe and secure. Aluma Capital chief economist, Frederick Mitchell, says the loss of access to the SWIFT system will carry repercussions that could undermine both national stability and future growth prospects.
Concerns over South Africa being cut off from the SWIFT payments system