Latest News & Developments
South Africa's leading banks are investing in affordable housing, youth employment, and green financing.
Advocate Douglas Shaw is pushing for a R60 billion class action against major South African banks who allegedly sold repossessed homes for as little as R100, leaving people homeless and destitute.
Advocate Douglas Shaw is pushing for a R60 billion class action against major South African banks who allegedly sold repossessed homes for as little as R100, leaving hundreds homeless and destitute. The case could be certified by year-end, finally bringing hope to affected homeowners after years of delays.
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.
RAIM's strong condemnation of South African banks reveals a troubling trend of account closures targeting Black individuals and businesses.
RAIM's strong condemnation of South African banks reveals a troubling trend of account closures targeting Black individuals and businesses.
A legal expert warns that South African banks could face US sanctions following new American legislation that prohibits account closures based on reputational risk. As the US Banking Committee implements the FIRM Act, South African financial institutions may need to reconsider their practices or risk hefty fines from US authorities.
US Senate Banking Committee moves to end reputational risk in banking regulation, sparking controversy over de-banking practices.
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
South Africa is experiencing a significant rise in "express kidnappings," where victims are abducted and forced to withdraw or transfer money from their bank accounts. Over the past decade, kidnappings have increased by 260%, with Gauteng being the hardest-hit region.
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
MKP's Luther Lebelo launches scathing attack on South Africa's major banks over alleged discriminatory practices and licensing bias, while Cosatu simultaneously protests Treasury's proposed VAT increases - highlighting growing tensions in SA's financial sector.
Two of Donald Trump’s family organisations are suing Capital One, claiming account closures were politically motivated following the Capitol riots.
South Africa stands at a crucial crossroads, with its sovereignty and economic future hanging in the balance amid shifting global power dynamics. Dr Iqbal Survé explores the implications of the Trump administration's policies on the nation.
The banks have had their time to do the right thing. Now, the nation must act to ensure that transformation is no longer a dream but a reality. The fight is on, and failure is not an option, writes Sipho Tshabalala.
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.
Omphile Maotwe of the EFF confronts South African banks and regulators in Parliament, demanding accountability for high bank charges and calling for transformative policies.
The ongoing saga of Ithala SOC Limited, a vital bank for KwaZulu-Natal's communities, raises serious concerns as Parliament addresses its liquidation and the implications for social grant recipients.
The South Gauteng High Court in Johannesburg ordered a woman to vacate her former home after years of resistance.
Absa said it was engaging all parties involved to investigate the matter to reach an appropriate resolution.
MK party spokesperson, Nhlamulo Ndhlela said Finance Minister Enoch Godongwana is turning a blind eye to the reality of people being economically excluded unfairly by banks.
Home Affairs Minister Leon Schreiber emphasised that the smart ID is a more secure document and while government encouraged South Africans to switch over to this new form of identification it has a responsibility to provide easier and better avenues to get the new ID.
Dirco's Deputy Director-General Clayson Monyela said they were handling administrative processes including booking flights.
It's been two days since a Backabuddy account has been created and Bongile Ntombela has received almost R50,000 in donations.
As the festive shopping season begins, customers are warned to remain vigilant against the rising threat of tap-and-go fraud.