Standard Bank Group (Standard Bank or the Group) and the Industrial and Commercial Bank of China (ICBC) have entered into a sale and purchase agreement in terms of which ICBC will acquire a controlling interest in Standard Bank’s London-based Global Markets business. ICBC will acquire, for cash, 60% of Standard Bank Plc, the Group’s UK
According to TechZim, Telecel Zimbabwe’s mobile money service, Telecash, will finally be launched in Harare this week. The service, which we’re told will launch without fail this time, was initially scheduled to launch in the 4th quarter of 2013 but faced serious delays. The Telecash product is a result of Telecel realising how big a
The variant of the Dexter virus – malware that attacks point-of-sale (POS) devices – which has resulted in financial losses for both South African banks and consumers highlights the importance for local businesses to utilise secure Virtual Private Networks (VPNs) that provide full protection against advanced threats. This is according to Mike White, Head of
Kenya, South Africa and Nigeria, and the African continent as a whole, lead the world in the uptake of mobile banking, according to a new report by mobile trade association MEF. The first report in MEF’s Global Consumer Insights Series on Mobile Money said 82 per cent of consumers in Africa engaged in mobile banking,
Gerrie Fourie, Capitec Bank’s new CEO, starts his year on a high-note after a strong performance in 2013, but with ambitious plans to take the bank to new heights. Gerrie plans to focus on the continued delivery of friendly, simplified and pioneering banking, but with an even stronger focus on innovation to meet clients’ everyday
Nedbank Limited, has selected Oracle FLEXCUBE to modernize its infrastructure and improve operating efficiency and customer service delivery. To help consolidate business operations and enhance the customer experience, Nedbank Limited will deploy Oracle FLEXCUBE to establish a single operating platform for its multi-country operations across five South African countries – Lesotho, Malawi, Swaziland, Namibia and
ReD, a fraud prevention provider, has announced a new four year agreement with South African headquartered payment gateway, Setcom. The agreement will make ReD’s industry leading ReD Shield fraud prevention solution available to Setcom’s global merchant base, as part of an integrated fraud and payments offering. The partnership will allow Setcom to offer ReD’s proven
Back in December 2010, when the eCommerce opportunity in Zimbabwe was all but invisible, a startup launched with a name all too obvious – zimazon.co.zw. They were going to be the Amazon.com of Zimbabwe and the market not being ready with things like payment systems wasn’t going to stop them. Their bet was on cash on
The recent merger of Bytes Technology Group (BTG) and Altech, has led to the establishment of the Technology Multimedia Telecoms (TMT) Division of Altron. Together, BTG and Altech are set to change the face of the financial administration of local government. The bringing together of these two established technology companies has allowed for the rapid
Latest statistics released by the Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 2 200 Spark Automated Teller Machines (ATMs) throughout South Africa, showed an increase in ATM withdrawal levels for December 2013. The SCI revealed a month-on-month increase of 2.97% in average cash withdrawal figures for December
