Category: <span>Banking</span>

Fintech and payments platform PayFast founder Jonathan Smit has resigned from the company. Jonathan’s move comes after running the company for the last fourteen years. His resignation is effective from the end of August.  PayFast is one of the earlier startup that ventured in the tech and e-commerce space in 2007. According to news reports,...

If your business doesn’t have digital footprint then your in trouble because your business is missing out. Nigerian tech startup Alerzo, B2B e-commerce retail business has raised $10.5M to bring informal retail sector online.  According to Tech Crunch, the company announced a $10.5 million Series A round led by London-based Nosara Capital. FJ Labs and...

The Nigerian fintech startup company Opay raised $400 million in new financing led by SoftBank.  The company started with providing customers with digital services in their everyday life, from mobility and logistics to e-commerce and fintech at cheap rates.  OPay allows unbanked and underbanked users in Nigeria to send and receive money and pay bills...

South African financial regulator FSCA (The Financial Sector Conduct Authority) has suspended the license of ZAR X effective from 20 August 2021.  This comes after ZARX’s non-compliance regarding the liquidity and capital adequacy requirements of an exchange. The company is not allowed to trade at the moment apart from processing transactions that were already in...

PayPal launches crypto services for United Kingdom (UK) market. Starting from today the company said customers in the UK will buy, sell and hold bitcoin and other cryptocurrencies. The international payments service provider announced over the weekend that UK customers will soon have access to Bitcoin, Ether, Litecoin and Bitcoin Cash through PayPal’s website and...

Standard Bank is taking banking to the people and making it more accessible. The South African banking giant is opening in-store branches in selected Pick n Pay retail stores in Cape Town, Western Cape and Johannesburg, Gauteng. The bank said they will have a space for consultations, as well as a more private area for...

PayPal says it will let customers get away with late payment fees as competition is creasing in the market. The most recognised and trusted payment solutions for web and mobile said will no longer charge customers late fees when they miss payments on buy now, pay later purchases globally, as competition heats up in the...

Absa Banking Group reported a strong headline earnings across its retail and business banking services. According to Moneyweb the banking giant is not adding new customers when compared to the lockdown-impacted first half of 2020. The financial publication Moneyweb reports, customer numbers are 2% lower than a year ago, but the group says these have “remained stable...

Bank Zero is finally here after months and multiple delays. South Africa’s newest and app driven digital bank officially launched to the public. The bank, which was granted a license to operate by the South African Reserve Bank in September 2018 but its launch delayed a couple of times.  The app-driven bank is the brainchild...

The surprise package for Thursday government reshuffle by President Cyril Ramaphosa was the resignation of the Finance Minister Tito Mboweni. President Ramaphosa said Mboweni asked to be excused from his position. He will replaced by Enoch Godongwana, the head of economic transformation in the ANC National Executive Committee (NEC). “Minister Mboweni took up this position...