Category: <span>Banking</span>

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that its Board has approved a commitment of up to US$100 million to invest in Africa-focused technology fund managers. The launch comes at a pivotal moment for Africa. The continent’s digital economy is projected to contribute over US$700 billion to GDP by 2050,...

As organisations across Africa intensify their focus on financial discipline, cost optimisation, and governance, a critical vulnerability is becoming increasingly apparent: the lack of accurate, real-time visibility into IT assets such as laptops, desktops, and distributed computing equipment. In many African organisations, assets are deployed across cities, regions, and in some cases countries often without...

The IMF put out its biggest report of the year. The message was blunt. The world economy is losing speed. And the Iran war is making it worse. The fund cut its 2026 global growth call to 3.1%. Back in January, it had said 3.3%. That’s a drop of 0.2 points. It may sound small....

As part of its strategy to lead in digital wealth, Citi is leveraging fintech to enhance its client value proposition. Citi is committed to driving Hong Kong’s fintech ecosystem by playing a unique role as both a strategic investor and a collaborator. This approach is exemplified by our partnership with Endowus, a leading digital wealth...

Happy Pay, one of Africa’s fastest-growing Buy Now, Pay Later (BNPL) platforms, has closed a $5 million seed round led by global technology investor Partech. The round saw participation from Futuregrowth Asset Management, 4Di Capital, E4E Africa, Equitable Ventures, Summit Deals, the University Technology Fund and Felix Strategic Investments. The Cape Town-based startup, with more...

In the rapidly evolving digital economy of Nigeria, where fintech companies have seen a 70% growth in just one year, a quiet revolution is taking place that goes beyond mobile wallets and transaction volumes. At the heart of this shift is the PalmPay Purple Woman program, a program designed to bridge a stark reality: women...

Discovery Bank is currently transforming its banking app into what the company calls a “super bank” that will become the single touchpoint for all of a client’s Discovery products.  These products, ranging from life insurance to investment products, will be offered through the banking app, creating a single platform for Discovery’s South African clients to...

Capitec has introduced a Smart ID application service in selected branches through a partnership with the Department of Home Affairs. Following a pilot phase, the service is now available in certain branches, with plans to expand to about 100 locations by mid-2026. Capitec clients can apply for a Smart ID at self-service terminals in participating...

FNB produced a strong set of financial results for the six-month period to the end of 2025, with it recording double-digit profit growth in South Africa. This is remarkable growth for a bank that generated over R15 billion in profit in South Africa during the same period last year.  FirstRand, which owns FNB alongside Wesbank and...

Western Union and Sasai Fintech, a business of Cassava Technologies, announced the launch of a new international money transfer mobile app tailored for South Africa’s consumers. The app is designed to meet the fast-evolving needs of an increasingly connected and mobile population, offering a seamless and reliable way to send money abroad, seamlessly, anytime, anywhere...