Latest News & Developments
South Africa's leading banks are investing in affordable housing, youth employment, and green financing.
Despite an improved economic environment in 2024, South Africa's major banks face challenges, including squeezed margins and declining consumer confidence.
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.
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
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's appointment as Absa's new CEO aims to fill a leadership void and enhance market sentiment, following his sudden resignation from Standard Bank
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.
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 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 has reported a 10% increase in headline earnings per share for the year ending December 2024, showcasing strong growth across all business segments
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 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 and its officials face fines and potential imprisonment for contempt of court after failing to comply with orders regarding access to municipal bank accounts.
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.
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.
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.
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.
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.
Will South Africa's Major Banks Be Held Accountable for Allegations of Collusion and Racial Discrimination?
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
Parliament must act decisively to safeguard democracy by curbing the unchecked influence of banks.
Edmond Phiri explores how South Africa's major banks operate with unchecked power, mirroring mafia tactics, and why reform is urgently needed.
Banking giant to challenge high court ruling after it was fined R100,000 and two top managers R50,000 each, for contempt of court.
Banking giant and two of its senior employees avoid paying R200 000 in fines and imprisonment for contempt of court after appealing scathing judgment.
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