Latest News & Developments
banking
Absa Group Chairman Sello Moloko steps down after challenging year
Absa Group Chairman Sello Moloko announces his resignation effective 15 July 2025, following a tumultuous year for the bank. His successor, René van Wyk, will take the helm amid significant challenges and a leadership vacuum.
How a Cape Town retiree fell victim to a R10. 6 million scam
A 78-year-old retiree from Cape Town has lost nearly R10. 6 million to a sophisticated email fraud scheme, prompting an investigation by the Hawks and local police.
How Banks Use 'Reputational Risk' to Hide Corruption
Are South African banks using reputational risk as a shield for corruption? Sipho Tshabalala exposes the unsettling truth behind the financial institutions that dictate who gets access to the economy.
Politicians and Public Officers the Most Likely Victims of Arbitrary Bank Account Closures
There is a disturbing trend of arbitrary bank account closures affecting politicians worldwide, from Melania Trump to Julius Malema, says the writer.
Simple and affordable: Capitec disrupts bank fees
Capitec is making banking even simpler and more affordable in 2025 with a groundbreaking new fee structure.
Mastermind behind R4. 6 million bank fraud scheme convicted in East London
A 41-year-old East London man, Thobani Mabizela, has been convicted of fraud after masterminding a scheme that cost banks over R4. 6 million. The Hawks' investigation revealed he created fake financial documents to secure vehicle loans that were never repaid.
Nedbank: A reputational risk to black people
In post-apartheid South Africa, the fight for economic equality is under siege as banks like Nedbank wield reputational risk as a weapon against the black community.
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.
The Silent Coup: When Banks Decide Who Lives and Who Starves
Is South Africa witnessing a silent coup where banks dictate who thrives and who suffers? Explore the alarming trend of financial institutions wielding power over lives and businesses.
Standard Bank executives' remuneration increases and decreases: A detailed report
Discover how the remuneration of Standard Bank's top executives has changed in 2024, with insights into performance metrics and the impact of shareholder feedback on remuneration policies
Who is Graham Lee? Capitec’s new CEO with a global track record
In a surprise move, Capitec Bank Holdings has appointed Graham Lee as its new CEO to succeed Gerrie Fourie, who retires in July 2025 after 25 years with the bank. Under Fourie's leadership, Capitec transformed from a challenger bank with 5 million clients to South Africa's leading digital financial services provider serving over 24 million. Lee brings extensive international experience across five countries and expertise in investment banking, financial technology, and microfinance to help chart the bank's future course
Discovery Bank launches AI-driven security features to disrupt South Africa’s banking sector
Discovery Bank has launched a suite of innovative AI-powered tools and security features, aiming to disrupt South Africa's traditional banking giants. With over 2. 5 million accounts, how will this newcomer reshape the banking landscape?"
Which funding options are best for your small business?
Navigating the maze of funding options? Discover the best choices for your small business and learn how to secure the capital you need to thrive.
US takes firm stand to eliminate reputational risk in banking, stirring debate in South Africa
The US Banking Committee has moved to eliminate 'reputational risk' as a reason for account closures, challenging a practice South African banks have long used to justify debanking cryptocurrency businesses and politically exposed individuals.
South African app's Wealth platform creates financial inclusivity, democratised banking
Discover how Vault22 is reshaping financial accessibility in South Africa with its groundbreaking Capitec integration and innovative Wealth platform.
FSCA's review reveals critical gaps in banks' complaints handling processes
The Financial Sector Conduct Authority's latest review exposes significant shortcomings in South African banks' complaint management systems, highlighting issues in categorisation, record-keeping, and customer communication. The report emphasises the need for urgent improvements to protect consumer interests
R180,000 per day! This is how much new Absa CEO Kenny Fihla earned at Standard Bank as a Number 2
South Africa's banking sector experiences a shake-up with Kenny Fihla's unexpected resignation from Standard Bank and his appointment as Absa CEO.
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.
White Capital Holds Black People Hostage Through Banks
Discover how South Africa's financial system perpetuates racial inequality, as the uMkhonto weSizwe Party exposes the colonial roots of the banking sector and its impact on black entrepreneurs.
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.
Kenny Fihla resigns as Standard Bank's deputy chief executive after 18 years
Kenny Fihla, Standard Bank's Deputy Chief Executive, resigns after 18 impactful years. Explore the legacy left by this banking leader and what the future holds for the Group.
Standard Bank aims to lead Africa's energy, infrastructure development
Standard Bank Group's CEO Sim Tshabalala outlines how the bank wants to be part of the mobilisation of finance for energy and infrastructure projects in Africa, highlighting the bank's role in sustainable finance and the challenges of energy access
Which South African banks offer the most affordable accounts?
The Bank Cost Report for 2025 by Solidarity Research Institute has unveiled a comprehensive analysis of the most affordable bank accounts.
MK Party defends Ithala Bank amid legal dispute
The Umkhonto Wesizwe Party on Monday held a protest against the South African Reserve Bank's Prudential Authority, urging protection for Ithala Bank amid liquidation threats.