SEPTEMBER 2025 – SOUTH AFRICA
COIDA CHANGE IN BANKING DETAILS
It is important that employers note the following:
Change in banking details
On 19 September 2025 the Department of Employment and Labour published Government Gazette No. 53360, Notice 3495 of 2025, announcing updated banking arrangements for the Compensation Fund in terms of the Compensation for Occupational Injuries and Diseases Act, 1993.
Effective 1 August 2025, all monetary deposits to the Compensation Fund must be made exclusively into the newly designated Nedbank accounts. Stakeholders and members of the public are advised to ensure that all future payments are directed to the specified Nedbank accounts as published in the gazette.
The newly designated Nedbank accounts are as follows:
Employers must use the prescribed reference numbers when making payments to ensure accurate payment reconciliation. The previous account information is no longer valid. Failure to comply with these directives may cause delays in processing payments.
To view the government gazette, follow the link.
