A global surge in initial public offerings, especially in the technology sector, has so far eluded sub-Saharan Africa.
TymeBank is likely to break even in 2022. Discovery Bank, by contrast, is targeting breakeven in approximately three years’ time.
African Rainbow Capital Investments is planning to expand its portfolio and has entered negotiations to add a fintech conglomerate to the group.
South Africa’s newest bank, Bank Zero, is now accepting new customers following a closed roll-out phase. Applications will be “throttled” to ensure that the bank’s seamless onboarding experience is not overwhelmed.
There is a frequent misconception in discussions around digital banks, namely that digital banks and traditional banks differ only at the surface. There’s much more to it. By TymeBank CEO Tauriq Keraan.
The rationale for introducing new players in the South African banking industry appear to be based, for the most part, on the wrong notions. By Rabelani Dagada.
Fintech is rapidly transforming the very essence of global financial services. Here are predictions for the financial services market for 2020 based on what we’ve observed globally and locally. By Dominique Collett.
From free burgers and ride-hailing services to hip-hop concerts and discounted petrol: South African banks are going all out to win customers as competition hots up.
The decision by Standard Bank to close 91 branches and cut 1 200 jobs is not at all surprising – the only surprises were that the bank announced it publicly and that it did so before elections in May.
As new banks with radically different cost structures enter the market, the question is whether South Africa’s large banks are well placed to respond to the digital onslaught.