Author: Tapiwa Matthew Mutisi

Africa’s largest retailer of clothing and mobile phones is preparing to enter the banking sector in South Africa by launching zero-fee banking services. The initiative will leverage Pepkor Holdings Ltd.’s extensive network of 6,000 stores across the country to provide financial access to millions of lower-income customers, according to people…

Nigerian broadband infrastructure provider Legend Internet is embarking on a major diversification strategy that will see it enter both the telecommunications and financial services sectors. At its recent second Annual General Meeting (AGM), shareholders approved a series of transformative resolutions aimed at positioning the company as a full-service digital infrastructure…

Apple’s iPhone accounted for one in every four smartphones sold in China during October, marking a significant 37% year-over-year sales increase, according to data from Counterpoint Research. The surge was driven by strong demand for the newly launched iPhone 17 series. This milestone represents Apple’s highest market share in China…

Standard Bank proudly partnered with Transnet as joint lead arranger in a landmark R5 billion (approximately $292 million) debt capital market transaction. This issuance achieved exceptional results, attracting a record-breaking R42 billion (around $2.5 billion) in investor interest from more than 44 investors. Standard Bank played a pivotal role by…

Zimbabwe’s state-owned telecommunications provider TelOne has unveiled TelOne Connect, a new product designed to maximize the company’s existing infrastructure and unlock new revenue streams. The launch marks a strategic move to modernize voice communication and expand accessibility in an increasingly digital era. TelOne currently serves over 500,000 landline customers, though…

Super Money, a new venture by Super Group, has announced the launch of ZAR Supercoin, an innovative stablecoin designed specifically for South Africa and the broader African market. Alongside the coin, Super Money is introducing a digital wallet, creating a comprehensive blockchain-based payment ecosystem aimed at transforming everyday transactions. The…

US retail giant Walmart is set to open its first branded store in South Africa this Saturday, 22 November, marking a significant milestone in its expansion strategy for the region. The inaugural store will be located at Clearwater Mall in Roodepoort, with additional locations, including Fourways Mall, confirmed for future…

South African electrotech innovator Plentify has successfully closed an oversubscribed Series-A funding round, bringing its total capital raised to date to nearly US$15 million (approximately R256 million). Plentify specializes in AI-powered hardware and software solutions that connect household appliances to cheaper, cleaner energy sources, helping consumers reduce costs while supporting…

The Competition Commission has granted approval for Lesaka Technologies to acquire Bank Zero, the app-only digital bank co-founded by former FNB CEO Michael Jordaan. The Commission recommended that the Competition Tribunal approve the transaction without conditions, signaling confidence that the deal will not negatively impact market competition. Under the proposed…

Shoprite has been steadily expanding its financial services capabilities in recent years—yes, Shoprite! The retail giant is now positioning itself to dominate peer-to-peer money transfers as a stepping stone toward a full-scale challenge to South Africa’s established banking sector. The retailer’s journey into financial services began in 1998 with the…

Telkom has delivered a robust performance in its interim results for the six months ended 30 September 2025, cementing its position as one of South Africa’s best-performing state-owned enterprises. The group’s revenue rose by 3.4% to R22.1 billion, driven primarily by strong growth in data services. Mobile data revenue surged…

The Japan International Cooperation Agency (JICA) has committed $50 million to Helios Investors V, a private equity fund managed by Helios Investment Partners. This investment underscores JICA’s ongoing efforts to support sustainable economic growth and private sector development across Africa. JICA’s participation comes alongside a consortium of prominent development finance…

Wahu Mobility’s story began with a simple yet powerful idea: converting traditional bicycles into electric-powered models to meet the growing demand for affordable, sustainable transportation across Africa. What started as a retrofit solution has evolved into a full-fledged mobility company that designs and assembles electric bicycles engineered specifically for Africa’s…

BFA Asset Management’s private credit vehicle, Kimbo Fund, has announced a strategic investment in FoodCare, an Angolan agri-food processing company poised for expansion in global markets. FoodCare specializes in processing 25 traditional African foods, including cassava, mufu, and mopane worms, catering to both local and international demand. Operating at a…

The first half of Ninety One’s 2026 financial year has started on a high note, with the investment powerhouse reporting record assets under management (AUM) of £152.1 billion (R3.42 trillion)—the highest in its history. Ninety One remains one of South Africa’s largest asset managers, second only to the state-owned Public…

London-based Jubilee Metals Group has received the green light from South Africa’s Competition Tribunal to proceed with the sale of its local chrome and platinum businesses. The tribunal issued a merger clearance certificate, granting unconditional approval for the transaction. In August 2025, Jubilee accepted a binding offer from One Chrome…

Global fintech powerhouse Revolut is gearing up for its entry into South Africa and has made a strategic leadership move to spearhead its ambitions. The company has appointed Gaby Magomola as Chairman of Revolut South Africa, signaling its intent to establish a strong foothold in one of Africa’s most competitive…

African eCommerce leader Jumia reported solid financial performance for the third quarter of 2025, even as it implemented workforce reductions and accelerated its adoption of Artificial Intelligence (AI) to streamline operations. Between December 31, 2024, and September 30, 2025, Jumia reduced its workforce by 7%, bringing total staff to 2,010…

MTN Group has achieved a major milestone, surpassing 300 million customers across its markets, while signaling a positive turnaround in Nigeria, its largest and most strategic market. In a quarterly update for the nine months ended September 2025, MTN CEO Ralph Mupita highlighted that the group delivered a robust performance,…

WeBuyCars has faced headwinds from the growing presence of value-driven Chinese automotive brands in South Africa. However, the company remains optimistic, viewing these developments as a catalyst for long-term growth opportunities. Despite market challenges, WeBuyCars continued its upward growth trajectory. Group revenue climbed 13.1% year-on-year, reaching R26.4 billion. Vehicle trading…