The World Bank Implementation Status & Results Report SADC Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme Project (P176529) SADC Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme Project (P176529) EASTERN AND SOUTHERN AFRICA | South Africa | Finance, Competitiveness and Innovation Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2022 | Seq No: 1 | ARCHIVED on 07-Sep-2022 | ISR50187 | Implementing Agencies: South African Reserve Bank, South African Reserve Bank Key Dates Key Project Dates Bank Approval Date: 21-Oct-2021 Effectiveness Date: 04-Nov-2021 Original Closing Date: 31-Dec-2023 Revised Closing Date: 31-Dec-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed project development objective (PDO) is to support payment system integration efforts in SADC countries. This will be achieved through (i) design, mobilization and deployment of low value credit scheme implemented by SADC member countries to support cross border transfers of remittances, and (ii) data subscription. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO -- Satisfactory Overall Implementation Progress (IP) -- Satisfactory Implementation Status and Key Decisions The SADC Transactions Cleared on an Immediate Basis (TCBI) Payment Scheme Project was approved on October 22, 2021. The Grant Agreement was countersigned on November 4, 2021 and became effective immediately. The procurement plan with 2 contracts as specified in the PPSD at project preparation has been cleared and no objection provided. The contract with BankservAfrica acting as Implementing Partner under the project has been signed and works had been initiated since early January 2021. The first Withdrawal Application has been submitted by SARB and the disbursement for a total of $170K was processed by end June 2022, reaching a 38% disbursement rate for the project. The objective of the TCIB project is to support payment system integration efforts in participating member countries. The participating countries are the following SADC member countries: Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Eswatini, Tanzania, Zambia and Zimbabwe. The TCIB project is financing Phases 3-5 of the Southern African Development Community (SADC) low value credit transfer payment scheme known as the TCIB, while Phases 1 and 2 have been completed prior to the approval of the World Bank RETF project. To-date, the Phase 3 deliverables have been completed and SADC PSOC designees are expected to validate the information on deliverables received from BSA. Risks Overall Risk Rating 9/7/2022 Page 1 of 4 The World Bank Implementation Status & Results Report SADC Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme Project (P176529) Risk Category Rating at Approval Previous Rating Current Rating Overall Low -- Low 5. Results Project Development Objective Indicators IN01100655 ►Design of the Transactions Cleared on an Immediate Basis Payment Scheme (TCIB Scheme) is completed (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Design completed, Value Design is not completed -- pending PSOC Design is completed validation Date 30-Jun-2021 -- 30-Jun-2022 30-Jun-2023 IN01100662 ►The TCIB scheme is ready for full production (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target TCIB scheme is tested TCIB scheme is not and ready for full TCIB Scheme is tested and Value -- available production, pending ready for full production. PSOC validation Date 30-Jun-2021 -- 30-Jun-2022 30-Jun-2023 IN01100663 ►Number of participants onboarded in the TCIB scheme (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 9.00 40.00 Date 30-Jun-2021 -- 30-Jun-2022 30-Jun-2023 Overall Comments PDO The project is on track to reach the set indicators. The contract with BankservAfrica, the key implementing partner in delivering the TCIB scheme has been signed on January 10, 2022 and all processes are ongoing from previous stages. There are 2 live scheme members from Namibia and Zimbabwe and 7 provisional members from 5 countries (Tanzania, Zambia, Zimbabwe, Namibia and Lesotho). Intermediate Results Indicators IN01100661 ►Number of member countries trained and sensitized to comply with TCIB onboarding readiness checklist (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 4.00 8.00 9/7/2022 Page 2 of 4 The World Bank Implementation Status & Results Report SADC Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme Project (P176529) Date 30-Jun-2021 -- 30-Jun-2022 30-Jun-2023 IN01100664 ►Number of PSOC meetings to review implementation of the TCIB scheme in line with agreed plan (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 2.00 5.00 Date 01-Jul-2021 -- 30-Jun-2022 30-Jun-2023 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P176529 TF-B7117 Effective USD 0.45 0.45 0.00 0.17 0.28 38% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P176529 TF-B7117 Effective 21-Oct-2021 04-Nov-2021 04-Nov-2021 31-Dec-2023 31-Dec-2023 Cumulative Disbursements 9/7/2022 Page 3 of 4 The World Bank Implementation Status & Results Report SADC Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme Project (P176529) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 9/7/2022 Page 4 of 4