Sector: Financials
The company is available at Interactive Brokers
Standard Bank Group (JSE:SBK) is a financial institution that offers banking and financial services to individuals, businesses, institutions and corporations in Africa and abroad.
The company drives economic growth in Southern Africa with a presence across 20 African countries. Standard Bank provides day-to-day banking as well as business, corporate, commercial, wealth and investment services:
Personal and Business Banking
Day-to-day financial services for personal and business banking learn more
Wealth
Wealth management solutions that move with market trends while growing and protecting assets learn more
Corporate and Investment Banking
Serving the needs of corporates and financial institutions through its African presence and deep expertise learn more
Semi-Annual values ($m)
Change (y/y)
P / E
Potential dynamics
Telkom is establishing a technology committee at board level, which will be headed by director Herman Singh.
2024-03-27 13:04 +02:00
Standard Bank Group on Thursday reported a 14% jump in annual software, cloud and technology-related costs.
2024-03-14 10:18 +02:00
Planet42 has raised debt and equity funding from Standard Bank to help the rent-to-buy start-up repay costly euro loans.
2024-03-11 10:30 +02:00
Seriti Resources has started building South Africa’s largest wind farm, as the mining industry seeks to cut its reliance on Eskom.
2024-02-05 15:44 +02:00
Former State IT Agency CEO Bongani Andy Mabaso has joined JSE-listed Altron as group chief technology officer.
2024-02-01 10:14 +02:00
The EAIF will invest in infrastructure projects focused on the energy transition, low-carbon economies and smart cities.
2024-01-15 13:19 +02:00
New customer sentiment data about the South African banking sector has yielded intriguing insights.
2023-11-30 12:36 +02:00
Banking app kidnappings, with the aim of gaining unauthorised access to victims’ money under duress, are on the rise.
2023-11-07 15:33 +02:00
Norrsken22 has received the backing of more than 30 unicorn founders and institutions for new tech investments.
2023-11-03 17:24 +02:00
The fund plans to invest in the telecommunications, technology, logistics, health care, consumer and retail sectors.
2023-10-04 09:30 +02:00
Five months after taking over as CEO of Sita, Bongani Mabaso has not changed his bullish attitude about the agency’s potential.
2023-09-13 14:20 +02:00
Banking in Africa is on the brink of its next transformative era, writes Standard Bank’s Mpumi Makhubu-Mukogo.
2023-08-22 12:22 +02:00
Signs that South Africa’s energy supply crisis is easing bode well for the rand, experts say.
2023-08-17 07:19 +02:00
Capitec and Discovery Bank have become the latest to offer access to PayShap, BankservAfrica’s rapid payments platform.
2023-08-15 08:30 +02:00
Founders Factory Africa has secured $113-million in additional funding to assist tech start-up founders across Africa.
2023-08-14 13:10 +02:00
PayShap, South Africa’s real-time digital payments service, has shown robust uptake since its launch in March.
2023-08-02 11:29 +02:00
Kgosientsho Ramokgopa has attacked South Africa’s $8.5-billion climate finance pact with rich countries.
2023-07-25 13:59 +02:00
Government incompetence has left critical infrastructure in tatters, forcing companies to step into the breach.
2023-07-21 09:21 +02:00JSE:GLN JSE:AGL JSE:SBK JSE:NED JSE:DSY JSE:INP JSE:INL JSE:TBS JSE:PIK JSE:AVI JSE:MPT JSE:ARH JSE:ISA
Scatec has reached financial close for three planned solar projects in the Western Cape, to be built at a cost of R5.1-billion.
2023-06-30 13:34 +02:00
Discovery Bank has become the latest financial services institution to help its clients minimise the impact of load shedding.
2023-06-07 09:00 +02:00
Newly appointed State IT Agency CEO Bongani Mabaso tells TechCentral about his plan to turn around the long-troubled entity.
2023-05-31 17:58 +02:00
Sheldon Moonian, Standard Bank’s head of operations for data security, has always had a passion for technology.
2023-05-16 07:15 +02:00
SnapScan has partnered with Standard Bank to offer businesses a low-cost card machine solution.
2023-04-24 11:20 +02:00
Seacom has appointed Alpheus Mangale, a former head of IT at Standard Bank, as its new CEO, replacing Oliver Fortuin in the role.
2023-03-30 11:56 +02:00
New shares will be offered in the ratio of 227 rights offer shares for every 100 ordinary shares held, the IT services group said.
2023-01-19 11:22 +02:00
JSE-listed IT services group EOH Holdings has outlined a plan to restructure its debt following a planned rights issue.
2023-01-17 15:20 +02:00
Ayo Technology Solutions has severely criticised the JSE after the bourse on Thursday publicly censured the company.
2022-12-23 10:08 +02:00
The JSE has fined Ayo Technology Solutions and publicly censured the company over further breaches of the listings requirements.
2022-12-22 10:50 +02:00
Cabinet has appointed Bongani Andy Mabaso as new CEO of Sita, government’s centralised IT buying and services arm.
2022-12-02 11:11 +02:00
Big changes are coming to the payments industry in South Africa early next year. BankservAfrica CEO unpacks all the details in this episode of TC|Daily.
2022-09-19 11:19 +02:00JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:MPT JSE:SFN JSE:HUG JSE:ISA
The retail group has secured loans worth R3.5-billion from major banks to fund big investments in renewable energy and other environmental projects.
2022-08-22 15:30 +02:00
Standard Bank Group’s total IT spending, including staff costs, topped R10-billion in the first six months of 2022.
2022-08-19 10:46 +02:00
As IT systems outages go, this one was doozy. Capitec went offline for almost two days last week, infuriating its customers.
2022-08-07 17:22 +02:00
MetroFibre Networx is continuing its aggressive fundraising drive: the company has now secured a R5-billion debt financing package from Standard Bank Group.
2022-07-26 11:20 +02:00
Patrice Motsepe’s challenger digital bank, TymeBank, has appointed three senior executives, including a chief technology officer.
2022-07-21 10:29 +02:00
Standard Bank’s head of IT engineering has “resigned with immediate effect” following a series of IT outages that have embarrassed the financial services giant.
2022-06-03 15:30 +02:00
South Africa is falling behind its African peers in the blockchain investment race, but the country is making solid progress in creating a regulatory framework to govern the sector.
2022-05-24 15:01 +02:00
The South African Reserve Bank has taken a step closer to creating a national digital currency. This is after it took the wraps last week off the second phase of Project Khokha.
2022-04-11 15:17 +02:00
More engagement with the fintech industry is needed before distributed ledger technology can be incorporated into South Africa’s financial markets, according to a new report.
2022-04-06 14:01 +02:00
Investec recently launched Programmable Banking, a platform for software developers that aims to open the world of banking to the IT industry with more granularity.
2022-03-23 10:54 +02:00
Big changes are coming to South Africa’s payments industry that will shake up the financial services sector, according to BankservAfrica CEO Jan Pilbauer.
2022-02-18 15:29 +02:00JSE:FSR JSE:MTN JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:AVI JSE:SFN JSE:ISA
Standard Bank said on Tuesday that its customers are struggling to access its Internet banking platform and its mobile banking app.
2022-02-01 11:03 +02:00
Standard Bank Group said 99% of its transaction volumes in South Africa are now cashless, a trend that has helped it to cut costs.
2022-01-24 10:45 +02:00
South Africa’s upstart lenders are leveraging their low-cost advantage to challenge the dominance of bigger and more established rivals, according to a report.
2022-01-23 13:51 +02:00
Standard Bank and Lightstone have disclosed a data breach and said that some property owners’ information in South Africa was accessed without permission.
2021-12-10 13:23 +02:00
Standard Bank Group said customers in nine countries experienced difficulties logging into their digital banking accounts after an outage.
2021-12-10 08:27 +02:00
Since much of Africa’s population has limited access to financial services, the continent is one of the world’s most attractive banking opportunities as incomes rise.
2021-12-09 17:00 +02:00
FirstRand will end funding for new coal-fired power stations and coal mines and has lowered the cap on its coal exposure as part of moves to reach net-zero emissions by 2050, it said on Wednesday.
2021-09-15 11:33 +02:00
Mobile payments platform M-Pesa has topped 50 million active users – measured by monthly active customers – telecommunications group Vodacom said on Tuesday.
2021-09-07 07:46 +02:00
Standard Bank Group is taking a big bet on the future of mobile payments in Africa, launching a platform called Unayo that takes direct aim at Kenya’s M-Pesa and other mobile payment solutions.
2021-09-02 16:15 +02:00JSE:MTN JSE:SBK JSE:VOD JSE:AVI JSE:JSE JSE:MPT JSE:ISA JSE:CGN
Standard Bank said on Wednesday that customers using its mobile banking app have been experiencing slow response times and intermittent problems when trying to log in.
2021-09-01 10:27 +02:00
Standard Bank’s mobile virtual network operator, or MVNO, has launched aggressively priced fixed-LTE solutions, with prices as low as R139 for 50GB of data for its top-tier banking clients.
2021-08-25 14:30 +02:00
In a virtual strategy update event on Friday, Standard Bank Group revealed that it plans to cut head office and branch space by as much as a quarter by 2025.
2021-08-23 17:00 +02:00
Standard Bank will within years transform into a marketplace where clients can also access rivals’ products and a variety of services beyond just banking, it said on Friday.
2021-08-20 14:45 +02:00
The rand was hovering around three-month lows in early trade on Wednesday, as the country prepared for what could be another day of unrest linked in part to anger over poverty and economic inequality.
2021-07-14 03:56 +02:00
President Cyril Ramaphosa pleaded for calm following days of protests that were triggered by last week’s incarceration of his predecessor and have claimed 10 lives, forced businesses to shut and weakened the rand.
2021-07-12 19:43 +02:00
Some of South Africa’s largest companies were forced to halt operations as violence erupted in parts of the country, with rioters torching trucks and looting stores.
2021-07-12 14:24 +02:00JSE:FSR JSE:MTN JSE:SBK JSE:VOD JSE:DCP JSE:JSE JSE:MSM JSE:MPT
Dimension Data is near to concluding a deal to sell Internet service provider Mweb, but has taken the sale of another business it has deemed non-core, Merchants, off the table for now.
2021-06-24 13:32 +02:00
Standard Bank has launched an online marketplace for larger companies, offering them a range of digital solutions. Called OneHub, it’s meant to act as a single point of entry for the bank’s corporate clients.
2021-06-03 11:11 +02:00
The Ombudsman for Banking Services’ annual report reveals that it opened 7 717 formal cases in 2020 – a new record. That’s a 19% increase on the prior year, despite the Covid-19 lockdown.
2021-05-13 06:56 +02:00
A pandemic-fuelled online shopping boom lifted South Africa’s e-commerce sales by 66% last year to more than R30-billion, according to a new research report published on Wednesday.
2021-05-12 14:45 +02:00
Christo Davel, the co-founder of the 22seven personal financial management platform acquired by Old Mutual in 2013, is joining Direct Transact as chief commercial officer.
2021-05-04 10:47 +02:00
Africa Data Centres, the carrier-neutral data centre company in the Liquid Intelligent Technologies stable, has announced plans to build a 10MW facility in Nigeria’s largest city, Lagos.
2021-04-06 15:00 +02:00
As major financial hubs like Singapore redraw legislation to lure crypto firms, South Africa’s burgeoning exchanges say they are having to move headquarters abroad due to uncertainty over potential government regulation.
2021-03-09 10:58 +02:00
Standard Bank said on Thursday that system problems have caused some its customers to have card transactions deducted from their accounts more than once.
2021-03-04 08:37 +02:00
Liquid Telecom, majority owned by African telecommunications tycoon Strive Masiyiwa, raised $840-million in a bond sale to refinance debt and expand further into Africa.
2021-02-25 14:47 +02:00
Vox has secured new debt facilities, lead-arranged by Investec and also involving Standard Bank and Rand Merchant Bank, to allow it to ramp up its deployment of fibre broadband infrastructure.
2021-02-15 17:42 +02:00
MTN Group has appointed Citigroup and Standard Bank Group to advise on a sale and leaseback of some of the carrier’s South African telecommunications towers, according to people familiar with the matter.
2021-02-02 14:11 +02:00
Dimension Data is looking for a buyer for its Mweb Internet service provider business and has appointed Standard Bank to lead the sale process, TechCentral has learnt from an impeccable source.
2021-01-14 15:18 +02:00
Bank Zero has announced its account pricing as it edges closer to launch. The digital-only bank says “basic banking should be free and extras should be paid for – not the other way round”.
2020-10-28 06:55 +02:00JSE:SBK JSE:ABG JSE:NED JSE:CLS JSE:OMU JSE:AVI JSE:ARH JSE:ISA
Liquid Telecom has raised $307-million through a rights issue to fund a rapid expansion of its data centre business across Africa.
2020-10-26 12:14 +02:00
Standard Bank Group is planning to scale up some of its operations and further digitise its systems to fend off fintech firms encroaching on its client base.
2020-10-15 05:35 +02:00
Nic Rudnick, the group CEO of Liquid Telecom, sees a future for the company beyond simply providing wholesale and retail connectivity. He wants to reimagine Liquid as a technology solutions company.
2020-10-14 08:17 +02:00
South Africa is forecast to set an unwelcome world record this week when the statistics agency is predicted to report unemployment rose to a record 34.8% in the second quarter.
2020-09-28 06:30 +02:00
Telkom has made several new appointments to various board committees following the announcement of the retirement of directors Santie Botha and Khanyisile Kweyama.
2020-09-25 08:53 +02:00
As of 1 January 2021, Nedbank clients will no longer be able to use cheques as a payment option. In an announcement on Tuesday, the bank said this is because few clients make use of the service.
2020-09-22 14:18 +02:00
South African businesses have had to respond to the coronavirus and lockdown restrictions since March. At the same time, the country’s economy is in crisis. Here’s how companies are coping.
2020-09-18 07:20 +02:00JSE:AGL JSE:AMS JSE:FSR JSE:MTN JSE:SBK JSE:VOD JSE:IMP JSE:SSW JSE:ABG JSE:SHP JSE:NED JSE:PPH JSE:AVI JSE:SPG JSE:MSM JSE:SUI
South Africa`s hopes for a raft of new power projects to help it out of a crippling energy crisis are fading, with investment still elusive as an already extended funding deadline looms, government officials, companies and bankers have told Reuters.
2023-11-01
South Africa`s social relief grant is likely to be extended beyond next March, economists said, which may add an unbudgeted 50 billion rand ($2.6 billion) to state expenses and require difficult trade-offs before an election year.
2023-10-26South African utility Eskom will get up to 20 billion rand ($1.06 billion) from the National Treasury next week, its interim CEO Calib Cassim said on Wednesday, in the second tranche of a debt relief package from the government.
2023-10-18
Solar power projects funded by South Africa`s Standard Bank will add 1,500 megawatts to the national grid by the end of 2024, the lender said, accounting for 5% of the total available grid capacity according to Reuters calculations.
2023-10-03The development bank founded by the so-called BRICS countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending.
2023-08-16
South African bank Absa said on Friday its loan losses were expected to have risen above its target range in the first half of this year as consumers felt the burden of higher interest rates.
2023-07-14South Africa`s Standard Bank Group funded renewable energy projects worth 55 billion rand ($2.79 billion) in 2022, exceeding its green financing target and putting it ahead of the world`s top lenders, it said on Tuesday.
2023-05-30South Africa`s Reserve Bank will raise interest rates for the last time in this cycle by 25 basis points on March 30, in anticipation of slower inflation and a weak economy due to power disruptions, a Reuters poll found on Monday.
2023-03-20President Cyril Ramaphosa, the anti-apartheid champion who become one of South Africa`s wealthiest businessmen, survived a challenge for the leadership of his party on Monday, days after he was spared impeachment proceedings over a scandal dubbed "Farmgate".
2022-12-19Cyril Ramaphosa, the anti-apartheid champion who become one of South Africa`s wealthiest businessmen and then its most powerful politician, was battling for his political survival on Thursday.
2022-12-01South Africa`s central bank will raise its key interest rate by 75 basis points next week to brake inflation, a Reuters poll found, adding another 25 basis points in each of the following two quarters before pausing for the rest of 2023.
2022-09-15
* Holds stake in venture with China`s ICBC (Recasts on ICBCS, adds CEO quote, detail, shares)
2022-03-11Spain`s Grupo Cobra and SENER companies are seeking to exit their stake in the 100-megawatt (MW) Ilanga solar power plant, which supplies electricity to South Africa`s national grid, two sources with knowledge of the process told Reuters.
2021-11-03South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation that relies on the most polluting of fossil fuels.
2021-10-15JOHANNESBURG (Reuters) -South Africa`s FirstRand will end funding for new coal-fired power stations and coal mines and has lowered the cap on its coal exposure as part of moves to reach net-zero emissions by 2050, it said on Wednesday.
2021-09-15Sun International has agreed easier borrowing terms with its lenders, two sources told Reuters, giving South Africa`s biggest casino firm a year of financial breathing space as a third wave of COVID-19 crashes over the tourism industry.
2021-07-09
The South African rand weakened early on Wednesday, pressured by a first-quarter increase in unemployment and concerns over how long easy financing conditions would last globally.
2021-06-02
South Africa`s Standard Bank Group said it expects to report a 40% rise in profit for the six months to June 30, boosted by signs of recovery in the local economy.
2021-05-31
South Africa`s Reserve Bank will keep its repo rate unchanged next week as inflation remains within the bank`s comfort range despite showing signs of quickening in recent months, a Reuters poll found on Thursday.
2021-05-13South Africa`s rand was weaker early on Wednesday as caution set in ahead of the U.S. Federal Reserve`s latest policy decision, which will likely set the tone for global currency trading in the coming sessions.
2021-04-28
South Africa`s Nedbank on Wednesday refrained from paying a dividend as its annual profit plunged 56.8%, after the COVID-19 crisis drove up credit impairments and lower interest rates hit revenue.
2021-03-17South African lender Absa said on Monday it would not declare a full-year dividend after profit fell 58%, falling behind two key rivals who managed to restore shareholder payouts in recent weeks.
2021-03-15South African lender Standard Bank restored its dividend on Thursday but kept it 76% lower than last year, declaring a payout of 240 cents ($0.1593) per share.
2021-03-11South Africa`s rand was firmer in early trade on Friday after leading emerging market losses overnight, with the recovery aided by indications that the United States central bank will keep lending rates low and monetary policy loose.
2021-03-05
South Africa`s Standard Bank has hired an independent environmental and social advisor to help assess its involvement in Total`s East African Crude Oil Pipeline that environmental groups have opposed, it said on Monday.
2021-03-01South Africa`s Treasury presented its 2021 budget to parliament on Wednesday.
2021-02-24At least two of South Africa`s major banks are likely to declare dividends after the central bank last week eased guidance on payouts, analysts and investors said.
2021-02-23JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:INP JSE:INL JSE:AVI JSE:ARH
South Africa`s rand firmed early on Monday, hurdling the key technical level of 14.50 on its way to a one-year best as signs of a local economic rebound and continued stimulus in the United States lifted demand for the currency.
2021-02-15
South Africa`s Standard Bank announced stricter criteria for financing thermal coal mining projects on Thursday, but stopped short of cutting off funding despite pressure on banks from climate activists.
2020-12-10
South Africa`s Standard Bank announced new criteria for financing thermal coal mining projects on Thursday, but stopped short of cutting off funding despite pressure on banks from climate activists.
2020-12-10
South Africa is set see a wave of equity fundraising as banks` capacity to lend is under strain from rising bad debts just as corporations are in need of funds to cope with fallout from the coronavirus pandemic.
2020-09-23
South Africa`s rand weakened again early on Tuesday following a sharp plunge in the previous session when fears of a second wave of global cornavirus infections triggered a worldwide selloff of riskier assets.
2020-09-22
Shares in South African lender Absa rose more than 2% on Monday as investors looked past a plunge in profit to the prospect of a better second half.
2020-08-24
* Scraps dividend, says balance sheet strong (Adds details, shares)
2020-08-20
South Africa`s state-controlled airports company ACSA has signed a new 3 billion rand ($174 million) loan with domestic banks and shelved major projects to shore up its finances in the coronavirus crisis, its finance chief said on Thursday.
2020-08-20
The South African arm of credit bureau Experian is investigating a data breach that saw it hand over information to a suspected fraudster, it said on Wednesday, adding the suspect had already been identified and the data deleted.
2020-08-19
South Africa`s Standard Bank said on Wednesday that its half-year profit could drop by as much as 50% as the coronavirus crisis hits its business.
2020-07-29
South Africa`s government may temporarily ban lenders from blacklisting consumers whose credit records have been hit by the coronavirus crisis, a consultation document published by the main opposition party showed.
2020-07-23
South African banks are looking at options ranging from debt consolidation to new ways of leveraging equity to avoid defaults when coronavirus-related debt relief measures end, industry officials said.
2020-07-10South African banks and the government are looking for ways to boost take up of an up to 200 billion rand ($11.58 billion) loan scheme to help coronavirus-hit businesses, two bank executives and a source close to the discussions told Reuters.
2020-06-15
South Africa`s competition watchdog has expanded its long-running rate-rigging case to target other lenders, including some of the country`s biggest banks, it said on Tuesday.
2020-06-02
* School opening delayed while teachers get PPE (Adds education minister, McDonald`s, rand update, manufacturing index)
2020-06-01South Africa sought to revive its stuttering economy on Monday with the partial lifting of a coronavirus lockdown, letting people out for work, worship or shopping, and allowing mines and factories to run at full capacity.
2020-06-01
South Africa`s central bank said on Wednesday the coronavirus had resulted in far reaching risks to financial stability and banks` profitability would suffer, but lenders were in a good position to weather the storm.
2020-05-27
South Africa`s rand was weaker in early trade on Thursday, after rallying to a five-week higher in the previous session, ahead of a key policy meeting where the central bank is expected to cut rates again.
2020-05-21
South Africa`s Nedbank Ltd has withdrawn guidance for its key financial numbers for 2020, blaming the economic disruption caused by the coronavirus pandemic.
2020-04-14
South African bank stocks recovered to make gains on Tuesday after the central bank signalled that its advice not to pay dividends did not include 2019`s and that the National Treasury was considering a scheme to encourage lending.
2020-04-07JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:INP JSE:INL JSE:AVI JSE:ARH
Standard Bank on Tuesday withdrew its financial guidance citing uncertainty caused by the coronavirus which has forced South Africa into a 21-day lockdown expected to take a toll on an already sputtering economy.
2020-03-31
South Africa`s biggest retail banks say that around 15-20% of their lending books do not definitely qualify for coronavirus relief measures announced by the banks last week, though more could be done if the government were to provide fiscal support.
2020-03-30
South Africa`s rand rallied on Friday afternoon as the flush of liquidity pumped into markets by central banks overseas spurred flows back into emerging currencies after the coronavirus sell-off.
2020-03-13
The South African rand gained on Wednesday after Finance Minister Tito Mboweni said in a budget speech that the government would cut the public sector wage bill to contain a rising budget deficit.
2020-02-26
South Africa`s central bank has started the process to appoint an advisor to manage the sale of its 50% holding in small lender African Bank, the company said on Friday, around six years after injecting 5 billion rand to rescue it.
2020-02-14South African inflation is expected to be lower in 2020 than previously forecast and the eventual reading could be lower still, a Reuters poll showed on Thursday, opening the door for the central bank to cut interest rates again during the year.
2020-02-13
A South African telecoms company backed by investment firm Remgro plans to expand its high-speed broadband network after completing a 16 billion rand ($1 billion) debt restructuring this week.
2019-12-20
South Africa`s rand was flat against the dollar on Friday, struggling for direction after surprise gains in the face of a darkening growth outlook following a week of nationwide power cuts and ongoing uncertainty over U.S.-China trade talks.
2019-12-13
South Africa`s rand weakened on Monday, pressed lower by weak Chinese export data that dented risk appetite and a fifth straight day of nationwide power cuts by utility Eskom as heavy rains and flooding caused failures at multiple power plants.
2019-12-09JSE:SBK JSE:DSY JSE:CLS JSE:INP JSE:WHL JSE:TFG JSE:INL JSE:ISA
Virgin Active and New Look owner Brait said it plans to raise up to 5.6 billion rand ($381 million) via a rights issue and other measures to tackle its high debts, roiling the South African investment firm`s shares on Wednesday.
2019-11-27Solani Rivele, a single mother of four, earns about 800 rand ($55) a week but owes 100 times that amount in loans. Millions of South Africans like her rely on credit to feed their families.
2019-11-04
South Africa`s rand firmed on Friday, building on gains made after the government released a long-delayed plan for electricity generation to address crippling power cuts.
2019-10-18
The South African government said on Tuesday it raised $5 billion from the sale of two new bonds in international markets, as strong demand from investors helped it raise 25% more than it had originally planned.
2019-09-24
South Africa` rand fell in early trade on Thursday, after data showed that a gauge of country`s business confidence hit its lowest in decades, while investors awaited outcome of an European Central Bank (ECB) meeting.
2019-09-12
The South African Reserve Bank will keep its repo rate unchanged on Sept. 19 despite a benign inflation outlook, a Reuters poll found, and any further rate cuts will likely hinge on a potentially game-changing credit rating review in November.
2019-09-12
South Africa`s Standard Bank has taken a stake in local fintech firm Nomanini to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking services.
2019-08-27South Africa`s biggest banks are betting cut-price accounts, big mortgages and offers on everything from Adidas backpacks to Xboxes will help them win over the youth market, which many overlooked until it was targeted by a host of start-up rivals.
2019-07-15
South Africa`s rand strengthened on Thursday after the chairman of the Federal Reserve set the stage for a U.S. interest rate cut later this month, weakening the dollar and boosting risk appetite worldwide.
2019-07-11
A severe shortage of computer skills in South Africa has left its major banks fighting over a limited pool of people with the skills they need to upgrade technology platforms and keep pace with changing customer demands and competition from new rivals.
2019-06-14
Standard Bank shareholders on Thursday voted down a resolution that would have required the South African lender to report climate risk in its activities, although they passed another forcing it to disclose its coal financing policies.
2019-05-30
FirstRand is to become the latest South African lender to slash prices on its retail banking products, as the arrival of a host of new, cheaper rivals sparks a scramble for customers among South African banks. FirstRand`s move, announced on Thursday, to cut fees and up rewards on its current accounts from July follows similar decisions by competitors like Standard Bank in response to cut-price or zero-fee offerings from new entrants.
2019-05-29
South Africans were offered low-fee, digital accounts by two "traditional" banks this week in a sign of how competition from a new breed of cheaper, online-only rivals is driving change in the $30 billion market.
2019-05-21
South Africa`s rand strengthened more than 1% on Friday on expectations of political continuity, as the governing African National Congress (ANC) headed for a national election victory.
2019-05-10
* Equities retreat as tariffs threaten emerging markets (Adds latest data, trader comment, stocks)
2019-05-06
South African lender Absa is aiming to make a start on its investment bank-focused expansion into Nigeria in the second half of this year, chief executive of the division, Charles Russon, told Reuters.
2019-04-10
Troubled South African retailer Steinhoff said on Tuesday it would place up to 694 million shares in KAP Industrial via an accelerated bookbuilding to raise cash to repay debt and shore up its finances.
2019-03-26
South African lender Standard Bank will cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank, it said on Thursday.
2019-03-14
South Africa`s rand fell on Thursday, tracking the euro lower after the European Central Bank pushed back its forecast for an interest rate hike and offered banks more cheap loans, while at home state power utility Eskom got smaller tariff hikes than sought.
2019-03-07
Banking group Sasfin and money transfer service Hello Paisa will launch a bank in South Africa this year, hoping to bring thousands of people into the financial system for the first time, the firms said on Wednesday.
2019-03-06
* Liberty earnings drop 17 pct in 2018 (Recasts, adds CEO interview, share reaction, more details)
2019-02-28
South Africa`s rand steadied against the dollar in late afternoon trade on Tuesday as traders awaited U.S. President Donald Trump`s State of the Union address which could hint at progress in U.S.-China trade talks.
2019-02-05
South Africa`s largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies.
2019-01-30
South Africa`s rand rose to a near one-week high against the dollar on Thursday as risk-taking crept back into markets, while a slump in mobile operator Vodacom`s shares dragged the bourse lower.
2019-01-24
