Investec, BankservAfrica reveal blockchain-based ID prototype

Investec, in collaboration with BankservAfrica and uPort, have demonstrated a digital identity system anchored in the Ethereum blockchain. The initiative was born in the digital identity working group of the SA Financial Blockchain Consortium (SAFBC). The identity...

Spaza shop fintech closes a gap in R40bn cash market

It is estimated that the spaza shop market in South Africa is valued at around R40 billion per year and that 90% or more of the transactions are in cash. This market is growing at around 10% each year. Despite this statistic of unaccounted cash, South Africa’s...

Nedbank app gets a virtual assistant

Nedbank has incorporated a virtual assistant into its banking app. HeyNed, a digital virtual personal assistant and concierge service, uses a network of more than 350 000 product and service providers to linking app users to what they need. In addition to the...

International fintech awarded SA trading licence

ThinkMarkets, a provider of online trading in financial markets headquartered in Australia with offices in the UK and Europe, has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African...

Sasfin takes equity stake in fintech lender Payabill

Sasfin has acquired a strategic stake in fast-growing fintech lender Payabill. Payabill, a 100% digital lending business, provides working capital and/or trade finance to small businesses. The collaboration between Sasfin and Payabill accelerates financing...

Cryptocurrency predictions for 2019

The crypto economy celebrated its 10th birthday in 2018, reaching a total market capitalisation of approximately $138,6-billion. Despite a fluctuating market, leading global peer-to-peer bitcoin marketplace Paxful saw an upswing in activity driven by African...