Banks face heightened scrutiny as regulators respond to growing risks posed by AI, cloud services, cyber threats and digital transformation. (Image created via ChatGPT) South Africa’s banks and fintech firms are facing tighter regulatory scrutiny, as the Prudential Authority (PA) steps up oversight of artificial intelligence (AI), cloud computing, cyber security and digital operational resilience…
SHENZHEN, CHINA – APRIL 12: A Chinese national flag is seen in the foreground with container ships, cranes, and stacked shipping containers at the Yantian International Container Terminal under cloudy skies, on April 12, 2025 in Shenzhen, China. (Photo by Cheng Xin/Getty Images) Cheng Xin | Getty Images News | Getty Images Foreign governments, Wall…
South Africa’s convergence war has been fought on two fronts simultaneously: Mobile operators have pushed into financial services – payments platforms, digital wallets, money transfers and insurance. Banks have pushed into connectivity – mobile virtual network operators (MVNOs), airtime, data the phone number as an anchor for the customer relationship. The previous two pieces in…
The indicative commitment follows the strong performance of RSSB-anchored Virunga Africa Fund I The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is considering a major investment in Virunga Africa Fund II, a new $500 million growth equity fund managed by Kigali-headquartered Admaius Capital Partners. According to project information disclosed…
South Africa coach Hugo Broos will rely heavily on locals at the 2026 World Cup — bucking a trend among African qualifiers to choose Europe-based players. The 74-year-old former Belgium defender, who retires from football after the global showcase, has 25 South African Premiership players in a 32-man provisional squad that will be trimmed this…
Capitec Bank CEO Graham Lee Capitec CEO Graham Lee said on Wednesday that the bank has formally applied for early access to Anthropic’s Mythos model and, after clearing the first hurdle with Amazon Web Services, is now in direct discussions with Anthropic – putting South Africa’s largest retail bank by customer numbers among a growing…
The emergence of Anthropic’s Mythos is setting up a scramble from the banking industry to gain access and test the technology as regulators rush to examine the cybersecurity risks the new AI model raises and how prepared financial firms are to tackle them. Mythos is viewed by cybersecurity experts as posing significant challenges to the…
US treasury secretary Scott Bessent and US Federal Reserve chairman Jerome Powell convened an urgent meeting with bank CEOs this week to warn of cyber risks posed by Anthropic’s latest AI model, two sources familiar with the matter have said. Anthropic launched the powerful Mythos model earlier this week but stopped short of a broad…
Optasia CEO Salvador Anglada Optasia has secured US$330-million (R5.4-billion) in refinanced and upsized debt facilities, with Standard Bank acting as joint mandated lead arranger and underwriter in a deal that deepens the banking group’s relationship with the JSE-listed fintech. The facilities comprise a $180-million term loan and $150-million in bank guarantees, and are designed to…
Licensed South African bookmakers have called on banks and payment providers to block transactions to “illegal” offshore gambling platforms, which they claim now account for nearly two-thirds of all online betting activity in the country. The South African Bookmakers Association (Saba) has said in a new report it commissioned from global gaming research firm YieldSec…
