To help stimulate job creation and strengthen the backbone of South Africa’s economy, IFC, a member of the World Bank Group, today announced a significant local currency loan to Lula Lend (Lula), one of the country’s leading digital lenders. This partnership aims to boost access to finance for micro-, small-, and medium-sized enterprises (MSMEs), a
PayJustNow, a South African fintech startup, has gone live on Takealot ahead of Black Friday on November 28. The integration lets Takealot shoppers split purchases into instalments, aligning flexible payments with a peak retail moment. Both companies frame the move as consumer-friendly at a time of tighter household budgets. Pioneering BNPL in South Africa Founded
As South Africa’s payments landscape evolves, integrating informal and Co-operative Banking Institutions into the formal financial system remains a critical barrier to inclusive economic growth. MoData, a payments technology enabler with deep roots in cash and digital payments infrastructure, offers scalable solutions, strategic consulting, and ecosystem engagement which can help bring key stakeholders like Co-operative
SPAYZ.io, a leading provider of innovative payment solutions, has announced its strategic expansion into three new African markets – South Africa, Egypt, and Cameroon. This marks another major step in the fintech company’s mission to transform digital commerce across Africa’s emerging economies by delivering tailored, localised payment solutions that address unique market needs. Over the
Kazang, a leading prepaid value-added services (VAS) and card-acquiring business within JSE-listed fintech Lesaka Technologies, is helping to transform South Africa’s tavern sector – an industry worth an estimated R40 billion to R60 billion a year and comprising more than 34,000 licensed tavern owners. The sector plays a central role in township economies and community
EFT Corporation, a leading provider of innovative payment solutions across African markets, today announced Adri Führi’s appointment as Group Chief Financial Officer (CFO), effective immediately. Führi brings over 25 years of extensive financial services experience to her new role, including over a decade of serving as CFO across multiple organisations. A qualified Chartered Accountant (South
InstaPay, South Africa’s next-generation integrated merchant and consumer payments platform, has launched InstaPay Gini, a secure, mobile-first wallet that gives South Africans a smarter way to save and spend – with no monthly fees and interest rates of up to 6%, designed to beat inflation. “InstaPay is the result of combined expertise and technology between
Mukuru has entered into a strategic partnership with MoneyGram, linking two advanced fintech platforms to deliver faster, more affordable, and more inclusive remittance services across Africa, Asia, and beyond. By combining Mukuru’s technology-led Southern African infrastructure with MoneyGram’s global reach, the collaboration aims to strengthen cross-border payment ecosystems and provide customers with greater access and
Across Africa, access is widening but gaps remain. Mobile money and instant payment rails continue to scale, yet distance to service points, liquidity constraints, and rising digital risks still hold back formal usage especially outside cities. The strategic question for banks is the following – will branch-centric distribution keep pace or will everyday payments continue
Float, the four-year-old South African card-linked instalment platform, has successfully raised $2.6 million (R46 million) in its latest funding round. The round was co-led by Invenfin and SAAD Investment Holdings, with participation from all existing investors, including Platform Investment Partners. Lighthouse Venture Partners also joined the round and provided advisory support throughout the deal. The
