Latest News & Developments
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How South Africa's banks are driving socio-economic change through sustainable investments
South Africa's leading banks are investing in affordable housing, youth employment, and green financing.
How South African banks are navigating consumer confidence challenges and credit demand
Despite an improved economic environment in 2024, South Africa's major banks face challenges, including squeezed margins and declining consumer confidence.
Absa Group's leadership shuffle: Executive pay rises amid reputational challenges
Absa Group's 2024 integrated report reveals a tumultuous leadership shuffle that has raised eyebrows, as interim CEO Charles Russon's pay surged to R35. 47 million amidst a backdrop of reputational challenges and a shifting African banking landscape.
SARB interest rate easing cycle likely coming to an end, says Absa
Absa's economic team warns that the South African Reserve Bank's interest rate cutting cycle may be coming to an end following the decision to keep the repo rate unchanged at 7. 50%. Despite lower inflation forecasts, concerns about global trade tensions and domestic uncertainty are likely to prevent further cuts in the near term
"Our ancestors walked so we can run - and indeed ride!" says Absa Cape Epic pioneer Letshego Zulu
Discover how Letshego Zulu, the first Black African woman to compete in the Absa Cape Epic, channels her grief into inspiring others through mountain biking on this week's edition of the Indy Sport Show.
Kenny Fihla appointed as Absa's new CEO amid leadership changes
Kenny Fihla's appointment as Absa's new CEO aims to fill a leadership void and enhance market sentiment, following his sudden resignation from Standard Bank
Strategic move: Banking expert weighs in on Kenny Fihla's move from Standard Bank to Absa
Kenny Fihla, former Deputy CEO of Standard Bank, is set to lead Absa Bank as CEO, a strategic decision praised by Mergence Investment Managers' Radebe Sipamla for its transformative potential.
SA's big banks post modest 5. 9% earnings in 2024 amid economic headwinds - PwC
South Africa's major banks demonstrated resilience in 2024, posting a 5. 9% increase in combined headline earnings to R119 billion, despite challenging economic conditions. The Big Four banks maintained strong capital positions and saw improvements in credit loss ratios, while advancing their digital transformation initiatives
Kenny Fihla appointed ABSA CEO after leaving Standard Bank
Kenny Fihla transitions from Standard Bank to lead Absa as CEO, promising to drive impactful strategies across Africa. His extensive banking experience positions him to enhance Absa's growth and client value.
Absa Group achieves strong financial growth in 2024, looks forward to sustained growth
Absa Group has reported a 10% increase in headline earnings per share for the year ending December 2024, showcasing strong growth across all business segments
PepsiCo, Absa back South Africa farmers’ online marketplace
Khula Pty Ltd. ’s app has 20 000 users, ranging from emerging to commercial farmers, and targets R200 million in funding by mid-year, co-founder and CEO Karidas Tshintsholo said in an interview
Absa faces contempt of court ruling over municipal bank accounts
Absa and its officials face fines and potential imprisonment for contempt of court after failing to comply with orders regarding access to municipal bank accounts.
Absa faces contempt of court ruling over municipal bank accounts
Absa and its officials face fines and potential imprisonment for contempt of court after failing to comply with orders regarding access to municipal bank accounts.
Banks' Relentless Exclusion: The Covid-19 Loan Scheme That Was Never Meant for Black South Africans
OPINION: The banks must be forced to serve all South Africans, not just the privileged few. The fight for economic freedom is not over, writes Sipho Tshabalala.
Black Exclusion, White Power: South Africa’s Banks Refuse to Transform
The banking sector is not a friend of the people. It has never been. It exists to serve itself, to protect the old order, and to ensure that economic power remains exactly where it has always been.
The fallout of US President Donald Trump's foreign aid freeze on South African media
US President Donald Trump's recent decision to freeze over $268 million in foreign aid potentially threatens the sustainability of some media houses in South Africa.
Banking sector comes under Parliamentary scrutiny over transparency
The Financial Sector Conduct Authority is set to release a critical report highlighting concerns over banking fees transparency and customer ethics in South Africa. The announcement comes amid parliamentary scrutiny of major banks regarding transformation and account closure practices.
Banking Sector under Parliamentary microscope over racist business practices, lack of transformation
Standing committee on finance chairperson Joe Maswanganyi said the finance standing committee has repeatedly expressed concerns regarding the lack of urgency in addressing financial exclusion and gradual transformation within the financial sector.
SA banks face Parliamentary grilling over collusion, anti-competitive practices and racial bias
Will South Africa's Major Banks Be Held Accountable for Allegations of Collusion and Racial Discrimination?
The double standards of reputational risk in SA banking
Explore the inconsistencies in how South African banks manage reputational risk, as highlighted by the Sekunjalo Group’s case, and question whether bias influences their decision-making
How Banks Are Weaponising Financial Power to Undermine Democracy
Parliament must act decisively to safeguard democracy by curbing the unchecked influence of banks.
The Banking Mafia – Conflict of Interest, Account Closures, and the Need for Reform
Edmond Phiri explores how South Africa's major banks operate with unchecked power, mirroring mafia tactics, and why reform is urgently needed.
Absa says its hands tied in council political factional battle
Banking giant to challenge high court ruling after it was fined R100,000 and two top managers R50,000 each, for contempt of court.
Absa, bankers in trouble for involvement in council political factions
Banking giant and two of its senior employees avoid paying R200 000 in fines and imprisonment for contempt of court after appealing scathing judgment.
ICTU demands accountability from banks over unfair practices
Following the Competition Commission's finding against Nedbank and other banks for anti-competitive practices, the ICTU calls for accountability and highlights the devastating impact on black-owned businesses