Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. The appointment follows a thorough recruitment and selection process completed by the Board. Arrie, who is currently Chief Executive of the Group’s retail and business banking (RBB) unit, is the first internally appointed CEO since 2006. He has more
The war in Ukraine has added concerns to an already tense cybersecurity environment. What’s more, recent international coverage about scammers using QR codes to misdirect funds is fuelling fraud uncertainty. But South African consumers, while wise to remain vigilant, are well protected if they stick to a few simple QR guidelines. Quick Response or QR
The South African Reserve Bank (SARB) has given regulatory approval for a new partnership designed to serve the SME sector exclusively. Powered by Access Bank South Africa Ltd, the collaboration with Lulalend will see the creation of Lula, a platform that will address common challenges SMEs face when managing finances. A 2020 McKinsey study showed
As long as cash still dominates the payments landscape in Africa, it remains a stumbling block to much-needed technological progress and innovation, particularly for SMEs. According to Andrew Springate, CEO of tech and financial gateway service provider PAYM8, things are starting to shift as Africa’s digital payments race begins and true financial participation and inclusion
Standard Bank’s BCC division driving Africa’s growth one small business at a time Standard Bank’s recently established Business & Commercial Clients (BCC) division is deliberately focused on building a capability ecosystem to support small traders, agribusinesses, emerging manufacturers and entrepreneurs to grow into formal enterprises – or even become national corporates or cross-border multinationals. In
TELKOM Financial Services has launched the Telkom Pay Mobile Point-of-Sale (mPOS) app, a fintech tool that allows business owners to make and receive payments through their mobile phones. The app is aimed at simplifying business for small, micro, and medium enterprises (SMEs). Telkom said it was committed to providing SMMEs with solutions that would enable
Do you have a solution to improve cash management and logistics that will help ATM deployers reduce costs? If so, the ATM Industry Association (ATMIA) wants to hear about it. ATMIA today announced the opening of its ‘Improving the Costs of Cash White Paper’ contest. ATMIA members worldwide are encouraged to submit a two-page document
Standard Bank has partnered with Woolworths Holdings Limited to successfully conclude the first sustainability-linked working capital facility in South Africa to the value of R600 million. This partnership is testament to Woolworths’ commitment to achieving bold sustainability targets and realising its vision to be one of the world’s most responsible retailers. This working capital’s facility
On 1 June 2021 the South African Reserve Bank (SARB) announced its process to dispose of its 50% shareholding in African Bank Holdings Limited (ABHL), given the potential conflict as the regulator, the significant shareholder, and the lender of last resort to African Bank Limited. The SARB appointed a set of transaction advisers and proceeded
Visa, the world leader in digital payments, is collaborating with the Bantu Blockchain Foundation (Bantu), custodians of the Bantu Blockchain Network infrastructure, to connect its digital asset-linked Visa cards to the Bantu Network Token (XBN), a utility token developed by Bantu to facilitate fast and secure transactions on the Bantu blockchain. This integration is expected to directly
