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bankinglatest news & developments
Reserve Bank governor Lesetja Kganyago announced on Thursday that the monetary policy committee had increased the repo rate by 25 basis points to 7%, effective from 29 May.

Reserve Bank hikes interest rate for first time since 2023 as oil shock, inflation risks mount

South African Reserve Bank raises interest rate to 7%, warning that oil shocks, food inflation and global instability could drive prices higher

Traditional banks need to figure out a way to serve small businesses.

How banks can better serve small businesses in Africa

Traditional banks must work on customised products and services that address their unique needs, potentially through partnerships with fintech

Any attempt to prohibit access to the secure financial messaging network could backfire.

Cold reality of mooted Swift bans for Israeli and South African banks

Any attempt to prohibit access to the secure financial messaging network could backfire

Rather than try to play catch-up with international banks, local players should tend their own garden and make a big push for easier payments, digital solutions and maybe even come up with innovative approaches specifically tailored for the African market. (Guillem Sartorio/Bloomberg via Getty Images)

African finance has what it takes to fill the void left by foreign banks

Local players have several advantages they can leverage to improve payment infrastructure and ensure the continent has a robust financial sector

Jeff Parker, CEO of Paymentology.

Paymentology CEO envisions the future of payment processing

A recent collaboration with Standard Bank South Africa and Sandton City launched the nation’s first instant issuing digital gift card

Elevate your banking experience with secure and convenient payment solutions from FNB

It’s imperative to know how to navigate today’s digital banking landscape

Imtiaz Suliman, Head of Shari’ah, Sentio Capital Management

The practical, religion-agnostic world of Shari’ah financial services

A differentiated segment of financial solutions available to all consumers

Consumers should spend cautiously, despite the positive outlook for the year
 (Getty Images)

FinTech: The battle for control of Africa’s financial sector

It is time to develop policies that safeguard Africa’s technological sovereignty in finance

Rands and sense: African Bank chief executive Kennedy Bungane says it is on target to realise its aim of being a broad-based black bank, set out nearly 60 years ago. (Delwyn Verasamy/M&G)

Black ownership in banking sector remains low

African Bank’s open listing offers a good example of how direct black ownership in the financial services sector can rise above the stubborn 25% minimum agreed upon by the…

(Photo by  Sipho Maluka/Sunday Sun/Gallo Images/Getty Images)

Digital ‘disruptor’ eats jobs at SA banks amid unemployment crisis

With fewer people visiting branches, opting to seek services online, something has to give

There are growing calls for regulation of the cryptocurrency market

Government-controlled cryptocurrencies could lead to a dystopian future

A government could program its cryptocurrency with whatever features it deems necessary. It would allow states to control what money should be spent on, where it could be spent,…

Arrie Rautenbach.

Absa announces first internal chief executive appointment since 2006

Arrie Rautenbach has been appointed to head up the banking group more than a year after his predecessor’s sudden departure

(Photo by  Sipho Maluka/Sunday Sun/Gallo Images/Getty Images)

Covid-19 accelerates Capitec’s move to digital banking

The bank has been on a journey of digitalisation, moving from cash to card payments

Basani Maluleke

Former African Bank boss announces her move to Capitec

Basani Maluleke will join the innovation team to find ‘the next big thing for Capitec’

Towering dispute: Earlier this month Absa announced Daniel Mminele’s departure, citing differences over strategy between him and the board.

Absa fills chairs after chief executive’s exit

Deon Raju has been appointed as the bank’s chief risk officer and Parin Gokaldas take over as Absa’s treasurer

At the coalface: In a statement, President Cyril Ramaphosa described the political declaration as a “watershed moment not only for our own just transition, but for the world as a whole”.

Big banks under pressure to end fossil-fuel finance

Shareholder engagement on climate-crisis risks is an proving effective tactic to bring about change

Banks are under pressure from governments and entrepreneurs to play a more active role in supporting investment and industrialisation by directly lending to sectors driving growth and jobs.

SA’s biggest banks remain resilient amid Covid-19 shocks

The sector was badly hit by credit losses, but strong capital buffers have kept it from spiralling

The pandemic is providing mobile phone network operators with a unique chance to partner with fintech firms and banks to deliver clever e-commerce solutions to the informal sector in Africa

Digital banking offers an entry point to the fourth industrial revolution

Digital and mobile offerings have the potential to disrupt the banking industry in South Africa

Banks are under pressure from governments and entrepreneurs to play a more active role in supporting investment and industrialisation by directly lending to sectors driving growth and jobs.

Banks bungle sale of houses

Banks aren’t following procedure in selling the primary dwellings of people whose properties are in foreclosure. But changes to the rules brings hope

The South African Reserve Bank has room to consider an interest rate cut at this week’s monetary policy committee meeting. (Oupa Nkosi)

How to keep central banks independent

Some observers say central banks can best mitigate risks to their independence by returning to the narrow price-stability mandate