South African Reserve Bank on Monday it had placed Ubank Ltd., a small South African lender primarily offering financial services to families of gold and platinum miners, under a curatorship with immediate effect. The central Bank Governor Lesetja Kganyago said in the last two years the central bank has increased scrutiny of the lender due...
Category: <span>Banking</span>
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Tana Africa Capital and LeapFrog invest $110 Million into Interswitch, a payments firm
Interswitch, an African payment firm has secured a $110 million joint cash injection from Tana Africa Capital and LeapFrog Investments. The company will scale its digital payment services and operation across the continent. In a statement, Interswitch Group CEO Mitchell Elegbe said the company was “excited to welcome LeapFrog and Tana on board, as we...
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SoftBank to cut startup investment by half this year – CEO
After difficult two years of financial constraints and turmoil, some companies and corporations are still feeling the pain and loss. The Japanese SoftBank plans to cut its investments this fiscal year 2023 by more than half that’s according to the company’s chief executive officer Masayoshi Son. This comes after the bank reported a record loss...
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Rand Merchant Bank appoints Emrie Brown as the new CEO
The Rand Merchant Bank (RMB) has appointed corporate executive, Emrie Brown as the new chief executive officer (CEO) of the bank. Brown will take the rains at the bank starting from 1 October 2022. Brown will take over from current chief executive, James Formby, who will hand over the role after seven years as RMB...
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Land Bank appoints its CFO Khensani Mukhari as acting CEO
Land Bank appointed Khensani Mukhari, its chief financial officer (CFO) as acting chief executive officer until they find a suitable candidate to fill up the position. Mukhari appointment comes after the departure of the bank’s CEO Ayanda Kanana, who vacated the Bank on 31 April 2022. Mukhari joined the bank two years ago as the...
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How to Start Investing with $100 a Month
Many investment platforms nowadays will allow you to get started with as little as $10 with no need for recurring deposits. If you can scrape up $100 per month, you can start investing in one of these three areas: Cryptocurrency Real estate Stock market Old news. People used to think that the stock market was a dangerous game...
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PayPal is Closing its San Francisco office
Having an office address is a thing of the past, no longer trendy and majority of companies opt for remote work. PayPal is shutting down its San Francisco office. The international payment platform is evaluating its global office footprint. The PayPal, Bay Area office which is accommodated its Xoom business unit. The company bought Xoom, which...
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Question and Answer with Capitec CEO, Gerrie Fourie
Speaking after his 2022 financial-results presentation this month, Capitec CEO, Gerrie Fourie, commented on Capitec’s resilience and success against the backdrop of the volatility, uncertainty, complexity and ambiguity that have underpinned the last two years. Well done on your Capitec financial results presentation, and on delivering such strong growth. What would you say has contributed...
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BNPL building Responsible Consumers, says PayJustNow
If you’ve shopped online lately, chances are you’ll have seen the option to pay off your purchase over several instalments. It’s called Buy Now, Pay Later (BNPL), and it’s the fastest-growing payment method in the world right now. For shoppers, BNPL offers the flexibility of spreading the cost of a purchase across three months interest-free,...
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Umba, the Nigerian digital bank Raises $15 million to scale its operations
Nigeria is becoming a home of the fin-techs, mobile and digital banking region of the African continent. Every week if not every day there’s a launch of a fin-tech platform to challenge and compete with the traditional banks. The Lagos based digital bank platform, Umba bank has raised $15 million in Series A funding. The...