Category: <span>Banking</span>

Its for say Ozow is South African unicorn and success story. Mzansi’s payments and fintech company Ozow has raised a $48 million Series B to provide more alternative payment solutions to its millions of merchants and consumers. The company’s seed round was led by Chinese internet giant Tencent with other investors Endeavor Catalyst and Endeavor Harvest Fund participating. Speaking...

Absa Bank board fired Sipho Pityana as its lead independent director, this comes after he took the SA Reserve Bank’s Prudential Authority (PA) to court. In a statement, the banking group announced its board had resolved that Pityana would cease to be lead independent director of the Absa Group and Absa Bank, with immediate effect. He’s...

African Bank has appointed Bold, a Brave Group’s company to handle their financial and corporate public relations and marketing for the next three years. The newly appointed chief marketing officer of African Bank, Sbusiso Kumalo said, “the executive communication and advisory firm by partners Ndumiso Mngomezulu and Jeremy Maggs were able to bring strong strategic/creative...

The South African and London based fin-tech firm has raised $120 million seed round. The company offers financial services to businesses and entrepreneurs in emerging markets.  Fintech is an interesting space to be in at the moment as we see a number of companies venture into. Jumo competes with other African fintech unicorns such as Flutterwave and Opay.  The fintech firm, which refers to...

TymeBank, one of the world’s fastest growing digital banks, announced today that it has onboarded four million customers as at the end of October, which means that one in every ten South Africans who are eligible* to open a bank account, now have a TymeBank account. In addition, TymeBank is experiencing an acceleration in its...

Square Inc shareholders have approved the issuance of new shares for the U.S. company’s $29 billion purchase of Afterpay Ltd, bringing Australia and the buy now, pay later sector’s largest buyout a step closer to fruition. The purchase by Square, the payments firm of Twitter co-founder Jack Dorsey, underlined the growing popularity of an industry that has upended...

Crypto Exchange Coinbase is buying Indian startup Agara, which operates an AI-powered customer support platform, both companies confirmed the acquisition. The move is part of the cryptocurrency exchange as it looks to make it easier for users to join the service and seek assistance. The company not disclosed the financial details of the deal, but...

Absa Bank has appointed Sello Moloko as the new chairman of the banking group. He will replace Wendy Lucas-Bull at the end of March next year. Lucas-Bull is retiring from the position. Moloko resigned as chairperson of Momentum Metropolitan on Monday. He also chairs Telkom and is a former CEO of Old Mutual Asset Managers. In the...

Stripe a Payments Solutions is buying Recko, which has built a platform that lets businesses track and automate payments reconciliation.  The platform covers both outgoing and incoming payments and the full ecosystem of inbound and outbound payment sources and receivers. Unlike Stripe, Recko is heavily more about APIs integration and working with different data sources. ...

PayPal Holdings Inc has offered to buy digital pinboard site Pinterest Inc or $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more financial technology and social media tie-ups in e-ecommerce. It would be the biggest acquisition of a social media company, surpassing Microsoft Corp’s $26.2 billion purchase of...