Nothing to see here folks

Absa CEO Kenny Fihla, who joined the group midway through last year from rival Standard Bank, admits he’s had his work cut out changing the corporate culture of the “sleeping giant” he now leads.

Nedbank is planning to take its newly acquired payments fintech, iKhokha, into new markets in the Southern African Development Community, and possibly East Africa in the future.

SARB governor Lesetja Kganyago says higher-denomination banknotes, such as a R500 note, could facilitate money laundering and tax evasion.

Capitec CEO Graham Lee says business banking is the near-term growth opportunity, while embedded finance and offshore expansion are longer-term goals.

SA’s second-largest open medical scheme grew its membership for a third consecutive year and retained a R1.8 billion surplus – its highest in 44 years.

Business Leadership SA CEO Busisiwe Mavuso says many businesses are quietly disinvesting to avoid shouldering responsibility for rising municipal failure across the country.

SA legal giant Webber Wentzel and its London-headquartered counterpart, Linklaters, have agreed to end their formal alliance after 13 years.

Critics say the South African Reserve Bank contradicted its hawkish reputation on rates with its July decision to keep interest rates on hold, but some analysts say there may still be hikes later this year.

Since First Home Finance subsidies were opened to the non-mortgage market in 2023/24, applications have increased exponentially.