The South African retail banking sector is characterised by high barriers to entry. The sector is concentrated, with four of the largest banks – Standard Bank, Absa, First National Bank and Nedbank – accounting for more than 80% of retail
Browsing: Absa
Absa customers will no longer have to ensure that they have an active data bundle to transact via the online application, the bank has announced. The Barclays-owned group said that it had concluded deals with network operators to offer
Home affairs minister Malusi Gigaba says citizens in the 25 to 40 age group will from Monday be able to apply for their smart ID card and passport at four of the country’s banks. “In our quest to deliver a quality service to our people
Labour minister Mildred Oliphant conceded on Tuesday that a meeting between cabinet ministers and South Africa’s four banks had taken place. However, she didn’t want to provide further details as the ministers were still to report back to cabinet
Cabinet was concerned that the decision by the country’s big four banks to cut ties with the Gupta-owned Oakbay Investments would deter investors, planning minister Jeff Radebe said on Friday. “While cabinet appreciates the terms and conditions of
Employees of Gupta-owned Oakbay Investments marched to major banks on Tuesday to demand that the company’s accounts be reopened. Armed with placards with phrases such as
Cabinet has welcomed the official launch of the eChannel pilot project of the department of home affairs, which makes ID applications simpler through technology. The project was launched by President Jacob Zuma earlier this month. The new
About 7 500 employees at Oakbay Investments will lose their jobs at the end of May if the Gupta-owned company’s bank accounts remain closed, staff at the company wrote in an open letter
The Guptas and Duduzane Zuma resigned from Oakbay Investments and Oakbay Resources and Energy on Friday to facilitate the sale of the Optimum coal mine from Glencore to Oakbay, the Democratic Alliance claimed. Their resignation “is an insult
Gupta-owned company Oakbay Investments made contact with President Jacob Zuma and cabinet ministers to express its “deep disappointment” at banks closing its accounts, it was revealed in a leaked letter to staff on