The financial arm of Chinese e-commerce titan Alibaba is planning the biggest IPO in history, raising as much as $35 billion in a joint listing in Hong Kong and Shanghai, a report said Thursday. And in a sign of Ant Group’s confidence in the share sale, it will not seek cornerstone investors — large institutions...
Category: <span>Banking</span>
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The Role of SA Banks in Economic Crime Not Yet Clear – Open Secrets
Anti-corruption group Open Secrets said at this stage it’s unclear how deeply some South African banks may be implicated in economic crime. This comes as leaked secret US government documents reveal how major international banks are helping launder money in the illicit economy. The FINCEN files also show more than two-trillion dollars of transactions between...
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TymeBank is signing up between 3,000 and 3,500 customers each day
TymeBank, backed by billionaire Patrice Motsepe’s investment group African Rainbow Capital (ARC), has signed on 1.9 million customers of which 50% were active at the end of June 2020. Launched in November 2018, the digital banking startup said that it aimed to be at break-even by 2022, with a customer base of around 2.2 million...
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Capitec’s CEO clears out his email, every day – here’s why?
Capitec’s CEO Gerrie Fourie runs a R100 billion company, but still manages to do what few others achieve: he deals with all his incoming email every day. Fourie admits that going to so-called “inbox zero” every day isn’t easy. “It’s a bit of a nightmare. I just make it a discipline to remain on top...
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South Africans warned to change banking passwords after data breach
South African banks have sent out security advisories to their customers following a significant data breach at Experian South Africa. Experian is a consumer, business, and credit information services agency, whose major clients include several South African banks. The breach exposed the personal information of as many as 24 million South Africans and 793,749 business entities. “Banks...