New allegations by President Jacob Zuma’s supporters that South Africa’s biggest banks are frustrating efforts to address racial inequality signal an escalation of a battle for control of the nation’s financial system, including the treasury. Protestors from the
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Abraaj Group, the private equity firm that invests across emerging markets, is interested in buying Barclays Group’s African business, CEO Arif Naqvi said. “It’s a very fine bank run by a very fine
South Africa’s largest banks have successfully swapped an asset via a blockchain network, set up among themselves. The banks – Absa, Investec, Nedbank, Rand Merchant Bank/First National Bank and Standard Bank
Digital distributed ledger technology, dubbed the “blockchain”, is being over-hyped, at least in the short-term, says Gartner’s senior vice-president for technology, Peter Sondergaard. Blockchain acts as a digital distributed ledger to
South Africa’s big four retail and commercial banks spent in excess of R30bn on IT in the 12 months to end-June 2016, including the cost of staff involved in this function. Excluding the cost of people, nearly R15 out of every R100 spent on
The department of home affairs plans to expand its smart card applications at bank branches by the end of October, following the success of the pilot project, minister Malusi Gigaba said on Wednesday
Blockchain — the technology that underlies cryptocurrencies such as bitcoin — is grabbing the attention of banks, says a prominent local law firm. The technology acts as a digital distributed ledger to confirm
Capitec Bank is generally the cheapest bank for the needs of most people, despite strong competition from other banks, according to Solidarity’s 2016 Bank Charges Report. As a result of strong competition in the basic
ThumbzUp, the local developer of mobile point-of-sale systems available in South Africa through Absa and in Australia through ANZ, is on the verge of signing significant new deals that will take it into
Absa has launched ChatBanking for Facebook Messenger, which allows clients to conduct their banking in the chat application. Messenger is the second platform that Absa has brought its ChatBanking service to