Standard Bank has become the first African-based lender authorised to clear renminbi transactions on the continent.
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Being late to the party isn’t the real problem – it’s showing up with nothing new to offer.
Banking group Absa won’t confirm a launch date, a network partner or whether the MVNO is even still happening.
South Africa’s banks have built thriving mobile businesses on phone numbers and network identities they don’t control.
South Africa’s banks are taking divergent paths on AI, with Investec insisting people, not machines, define the institution.
Capitec CEO Graham Lee has revealed the bank is seeking early access to Anthropic’s Mythos as cyber risks escalate for banks.
The leaked information includes client names, ID numbers, contact details, account numbers and some credit card details.
FirstRand lifted its stake to 26.1% in late March. Now Standard Bank has led a $330-million debt refinancing.
Standard Bank says the market should lead. Fintechs say fragmentation and proprietary APIs are holding the sector back.
The bulk of capital is earmarked for later-stage rounds, where South African venture funding has long been thinnest.