Category: <span>Banking</span>

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...

Discovery Bank posted a profit of R75 million in the six months to 31 December 2025, with this being the first reported profit for the bank.  This marks a significant milestone in the bank’s journey and that of the broader Discovery Group, with it well into its new phase of growth.  Discovery aims to grow...

GoTyme Bank has announced ambitious plans to roll out Consumer Hubs (branches) across South African malls. The move is part of the brand’s 2.0 strategy to take the brand to another level, grow and solidify its users base. “As part of its expansion strategy, from March 2026, GoTyme Bank will start rolling out dedicated Consumer...

Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration. The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This...

Grey Inc, a provider of cross-border payments solutions, has expanded its business banking offering to include USD business accounts, bulk payments, and USDC stablecoin support on a single platform. The expanded offering is designed to help businesses receive international payments, manage large-scale cross-border transactions, and reduce the cost and complexity typically associated with international banking....