Bank Zero will join forces with fintech group Lesaka Technologies. Fintech group Lesaka Technologies will acquire 100% of the issued ordinary shares of Bank Zero, subject to regulatory approvals. Formerly known as Net1 UEPS Technologies, Lesaka is listed on the Johannesburg Stock Exchange and the Nasdaq. Based on a zero-fee banking model, Bank Zero launched…
Lesaka Technologies has agreed to buy the digital bank chaired by former FNB CEO Michael Jordaan for R1.1-billion. Jordaan announced the acquisition in a post on social media late on Thursday evening. “So Lesaka Technologies Inc bought @BankZeroSA for R1.1-billion. Lot of regulatory approvals still needed, but both teams are excited about the merger synergies,”…
Washington — The World Bank has approved $115 million in concessional financing to support Senegal’s efforts to improve public debt sustainability, strengthen public financial management, and increase domestic resource mobilization. The financing, provided through the International Development Association (IDA), will help implement the government’s flagship reform program, the 2025-2029 Senegal Program for Transparency in Public…
Standard Bank, Africa’s biggest bank by assets, has been named as Africa’s Most Admired Financial Services Brand for 2025. The accolade was conferred as part of Brand Africa’s 15th annual Africa’s Best Brands report, based on an independent study conducted across 31 countries throughout the continent. Standard Bank, Africa’s biggest bank by assets, has been…
The World Bank Group is considering financing US$500-million (R9-billion) of South Africa’s participation in a new credit guarantee facility meant to unlock private financing for a massive transmission grid expansion plan, a senior bank official said. South Africa is courting private investment for an ambitious plan to add 14 500km of new lines and enhanced transformer…
CNN — When customers at Silicon Valley Bank rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds. As a Black woman with nearly 10 years of business experience, Hamilton knew the options for those…
Freetown — The World Bank today launched the Sierra Leone Country Economic Memorandum (CEM) and the Country Climate and Development Report (CCDR), two core analytical reports that provide essential insights into the country’s economic and climate challenges, offering strategic pathways for sustainable growth and resiliencee. “These reports provide a comprehensive roadmap for addressing the economic…
Stocks slid Friday after a slate of earnings beats from big banks fueled concerns that the Federal Reserve will raise interest rates at its next two meetings. Still, the major indices gained for the week. The Dow rose 400 points, or 1.2%. The S&P 500 gained 0.8% and the Nasdaq Composite advanced 0.3%. JPMorgan Chase…
