Category: <span>Banking</span>

Google is flexing its muscle when it comes to digital payment market. According to Reuters, tech giant Google has launched international money transfer partnerships with remittances firms Wise and Western Union for users of its U.S. payments app. Google Pay users in the United States can now transfer money to app customers in India and...

PayPal is cashing in on the digital payment boom. According to Reuters, PayPal Holdings Inc reported its strongest first quarter on record and beat profit estimates on Wednesday, with a coronavirus-driven shift to online shopping and digital transactions boosting payment volumes. PayPal’s quarterly performance builds on an equally strong 2020 for the company, which also...

Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalised after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With this new development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African...

The South African Revenue Service (Sars) is going after people who benefitted from state capture and who failed to pay tax on their ill-gotten gains. Sars Commissioner Edward Kieswetter told Parliament’s Standing Committee on Public Accounts (Scopa) that the revenue service was working on seven state capture-related projects and had already handed over 27 criminal cases to the National Prosecuting Authority...

Standard Bank clients were left frustrated by technical problems which impacted payments in the last two weeks of April. On Monday, the bank reported that persistent issues had finally been resolved and that it had launched a new service status page to keep clients up to date with any future disruptions. Standard Bank’s services were marred by...

Speaking to Bruce Whitfield on The Money Show on Talk Radio 702 about the partying of Absa’s CEO Daniel Mminele. The Absa Group Chair Wendy Lucas-Bull said the parting of ways “merely reflects divergent professional views and approaches, and is on a ‘no fault’ basis”. “The parties have not managed to achieve alignment in relation...

Absa Bank CEO Daniel Mminele set to leaves the Bank due to Differences with the Board. Daniel Mminele, formerly a deputy governor of the South African Reserve Bank, will be the second banking CEO to leave his role in unhappy circumstances in the space of a few months.  Absa’s share price dropped 4%,  compared to...

Against the backdrop of the impact of COVID-19 on the South African economy, Capitec Bank declared an increase in headline earnings of 18% to R3,9 billion during the last six months of its annual period up to end February 2021, however, as a result of the first six months of COVID impact on operations, its...

Sekunjalo Investment Holdings, Ayo’s banking facilities has been terminated by First National Bank According to Moneyweb, the First National Bank has terminated the banking facilities it provides to Iqbal Survé’s Ayo Technology Solutions, Ayo said in a statement to shareholders after markets closed in Johannesburg on Thursday. “Shareholders are advised that the company’s current bankers, First National Bank,...

The African Bank has appointed banker Mr Kennedy Bungane as the African Bank’s new CEO following the resignation of Basani Maluleke in January. According to the bank, Basani was instrumental in rebuilding the bank after it emerged out of curatorship. “The Board of Directors of the African Bank Group is pleased to announce the appointment...