South Africa’s long awaited and highly anticipated rapid payment programme (RPP), PayShap, offers huge potential to boost digital payments and, when used in conjunction with technologies such as Chat Commerce, could serve as a real game changer for businesses. But the disparity in launch pricing from local banks could hinder uptake, blunting the effects of
Columbia University’s Adam Tooze joins the debate on confidence and growth in Africa, launching the public discussion programme of the recently established Standard Bank Chair in African Trust Infrastructures at the University of the Witwatersrand. Standard Bank’s corporate commitment to Africa’s growth recognises the role of education and research in the development of the African
The adage ‘jack of all trades, master of none’ is apt for enterprises considering expansion into new African markets. Anthony Karingi, Vice President of Business Development – East Africa at leading fintech enablement partner Ukheshe, says the company is taking a collaborative approach to its regional expansion strategy – and is already reaping the benefits.
Standard Bank Group (“Standard Bank” or “the group”) delivered record headline earnings of R34.2 billion for the twelve months to 31 December 2022 (FY22 or the current year), up 37% on the prior year. The group recorded continued client franchise growth across all its businesses and geographies. RESULTS OVERIVEW “We delivered strong earnings growth which
*Salient points Revenue increased 15% to R98.9 billion Operating costs rose 7% to R50.9 billion Cost-to-income ratio improved to 51.5% from 55.2% Pre-provision profit increased 25% to R48 billion Impairments increased 61% to R13.7 billion Headline earnings per share increased 13% to 2486 cents Return on equity improved to 16.6% from 15.8% Group CET 1
Millions of Telkom customers can now easily and safely pay their phone bills, recharge and buy new service bundles in WhatsApp Clickatell (www.Clickatell.com), the Chat Commerce and business messaging leader, has launched their Chat 2 Pay feature for South Africa’s largest integrated communications company, Telkom (www.Telkom.co.za). Telkom’s millions of customers can now make payments in
Truzo’s UK digital escrow service enables African businesses to transact with trust, offering lower fees to help fight inflation Truzo, the first African-focused FCA-approved digital escrow service, officially launches in the UK this week. An established and fast-growing player in South Africa, Truzo now makes transactions between the UK and South Africa safer and more
Written by David Smith, CEO WeDo Help Limited The payments sector is ripe with growth opportunities, but winning in this market takes speed, agility and a relentless focus on the customer experience. Yet all too many financial services companies are running on legacy technology stacks that aren’t up to the challenges of today’s dynamic market.
In the second half of 2022, the South African Reserve Bank (SARB) announced it has its sights set on stricter regulations for the South African payments ecosystem “to ensure financial stability in a world of increasingly innovative and disruptive technology”. Though some new fintech players winced at the thought, it is a necessary move if
A new report by Boston Consulting Group has found that in light of the current disruptive payments landscape in Africa, banks need to create suitable operating structures and partnerships to fortify their retail payments positioning and create the conditions for lasting success. The rising demand for electronic payments is creating fundamental shifts across Africa and
