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Old Mutual Limited expected to list on the JSE  on 26 June 2018

Old Mutual Limited has made public its pre-listing statement, an important step towards its launch as an independently listed, leading financial services group.  It is expected that listing will take place on 26 June 2018 following receipt of the requisite approvals, including approval by the Old Mutual plc shareholders. Peter Moyo, OML CEO says, “We […]

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FNB unveils a mobile bank account for unbanked, underbanked consumers

Today, First National Bank (FNB) announced the launch of eWallet eXtra, a mobile bank account that allows unbanked and underbanked South African consumers to use a feature phone or a smartphone to open a bank account without ever walking into a branch. eWallet eXtra will have no monthly fees and consumers are not required to […]

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Sasfin and Saxo Capital Markets SA (SCMSA) management acquire SCMSA from Saxo Bank

Sasfin and Saxo Capital Markets SA (SCMSA) management have acquired SCMSA from Saxo Bank, subject to certain precedent conditions. This is a landmark transaction for all parties concerned and for Sasfin in particular, as it continues in its quest to become a meaningful player in the global fintech space through partnerships with other meaningful APIs. […]

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Monale Ratsoma

Ratsoma appointed DG of BRICS NDB ARC

National Treasury’s Deputy Director-General (DDG) for Economic Policy, Mr Monale Ratsoma, has been appointed the Director-General of the BRICS New Development Bank (NDB) Africa Regional Centre(ARC). The Treasury says in a statement that the appointment is effective from 16 April 2018. MrRatsoma’s role will be managing the bank’s African regional operations and leading the bank’sAfrican […]

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Sasfin launches B\\YOND – the digital banking future for business

Sasfin recently launched B\\YOND, a digital banking platform built to enable entrepreneurs to grow their businesses. Having financed and supported small business for 50 years, Sasfin understands the pain-points and pressures that small business faces in South Africa. Failed small businesses so often tend to either neglect or become completely consumed by their finances and […]

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Minister of Public Enterprises, Pravin Gordhan and Governor of the SARB, Lesetja Kganyago

VBS Mutual Bank placed under curatorship

Yesterday morning, City Press revealed that VBS Mutual Bank faced the possibility of a spectacular crash, following Treasury’s instruction to municipalities to stop investing with the institution. “The order was given early last year and states that the Municipal Finance Management Act forbids municipalities from investing in mutual banks. As a result, a number of councils […]

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SA’s major banks post solid financial results amid economic uncertainty

SA’s major banks produced a solid set of financial results for the reporting period ended 31 December 2017, despite an operating environment marked by intense levels of policy and economic uncertainty. (more…)

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Growing pile of money

Banking customers’ expectations higher than ever before – SAcsi 2017 Survey

The latest South African Customer Satisfaction Index (SAcsi) for Banking, conducted by Consulta in Q4 2017, reveals that Capitec continues to lead with the most satisfied customers. (more…)

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