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Wednesday, May 21, 2025

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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.

Business
Nicola Mawson|Published

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.

Business
Nicola Mawson|Published

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.

Business Report Companies
Philippa Larkin|Published

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

Business Report
Siphelele Dludla|Published

Watch Video"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.

Sport Cycling
Zaahier Adams|Published

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

Business Report Companies
Edward West|Published

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.

Business Jobs
IOL Reporter|Published

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

Business Report Companies
Philippa Larkin|Published

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.

Business Jobs
Mthobisi Nozulela|Published

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

Business Report Companies
Edward West|Published

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

Business Report
Bloomberg|Published

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.

Pretoria News News
Loyiso Sidimba|Published

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.

News
Loyiso Sidimba|Published

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.

News Opinion
Opinion|Published

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.

News Opinion
Opinion|Published

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.

News World
Thabo Makwakwa|Published

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.

Business Report Economy
Banele Ginindza|Published

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.

News Politics
Mayibongwe Maqhina|Published

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?

News Politics
Robin-Lee Francke|Published

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

Sunday Independent Analysis
Sizwe Dlamini|Published

How Banks Are Weaponising Financial Power to Undermine Democracy

Parliament must act decisively to safeguard democracy by curbing the unchecked influence of banks.

News Opinion
Published

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.

Sunday Independent Analysis
Opinion|Published

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.

News South Africa
Loyiso Sidimba|Published

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.

News South Africa
Loyiso Sidimba|Published

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

Sunday Independent News
Thabo Makwakwa|Published