The Johannesburg Interbank Average Rate (JIBAR) has been the benchmark interest rate in South African institutional financial markets since the 1990s. But now change is coming. A new reference rate has been identified to replace JIBAR, in line with global best practice.

It is time to act.  This transition will have far-reaching implications for operations, legal, risk management, reporting, and finance.  Ensure your organisation is ready by building awareness, educating stakeholders, engaging with banks and counterparties, and coordinating changes to systems, processes, and controls. Our article provides guidance for treasurers to navigate this transition while minimising disruptions to their derivative and debt portfolios.