South Africa’s upstart lenders are leveraging their low-cost advantage to challenge the dominance of bigger and more established rivals, according to a report.
Browsing: TymeBank
Chinese Internet giant Tencent Holdings has invested in South African digital bank TymeBank.
Public net sentiment towards Absa has jumped in the past year, an analysis of hundreds of thousands of social media conversations shows.
The latest South African stock exchange opened on Thursday pledging to lure firms from across Africa with listing costs that are a third of that charged by the JSE.
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.