African Bank and Visa renew partnership for 7 years
African Bank and Visa have announced that they have renewed their strategic partnership for another seven years, emphasising their shared commitment to innovation, security, and financial inclusion across South Africa.
According to African Bank, this milestone underscores a long-standing relationship aimed at delivering enhanced banking experiences to customers.
As part of the collaboration, African Bank will integrate Visa’s advanced payment technologies, ensuring secure, seamless, and efficient digital banking solutions. Visa’s support will bolster African Bank’s rebranding efforts, expanding its market presence and reinforcing its customer-first approach.
The partnership includes the launch of a Business Banking Account tailored to support small and medium enterprises with financial tools to grow and thrive. “We are pleased to continue our collaboration with African Bank,” says Lineshree Moodley, country head at Visa South Africa. “This partnership aligns perfectly with Visa's strategy to increase financial inclusion and drive innovation in the financial sector.”
Darryl Adriaanzen, African Bank COO, says: “Our collaboration with Visa reflects our shared values and commitment to fostering financial inclusion, particularly in underserved markets.”
African Band says the Visa’s Tokenization and Consumer Authentication Solution will enhance security, enabling safer, more convenient digital transactions. This renewal signifies a bold step toward shaping the future of banking.
FSCA warns public against scammers claiming to recover funds from Banxso
The Financial Sector Conduct Authority (FSCA) has issued a warning to the public about individuals claiming to assist investors who lost money with Banxso (Pty) Ltd (Banxso). The FSCA urges caution when dealing with such persons.
According to the FSCA, complaints have been received from members of the public who reported being contacted by individuals claiming to investigate Banxso and recover funds for investors. These individuals use various names and entities and falsely claim to represent legitimate organisations and regulators.
The FSCA advises the public to watch for warning signs when approached by individuals offering to recover funds. Common red flags include requests for personal details, financial information, access to bank accounts or cryptocurrency wallets, and demands for payment before funds can be returned.
The FSCA emphasises the importance of verifying the legitimacy of any claims and recommends consulting with trusted financial advisors or contacting the FSCA directly for guidance.
CEOs optimistic about global economic growth despite ongoing risks
Almost 60% of CEOs worldwide expect global economic growth to improve in the next 12 months, according to PwC’s 28th Annual Global CEO Survey.
The report, which surveyed 4,701 CEOs across 109 countries and territories, highlights a significant level of optimism among business leaders.
The survey also reveals that 42% of CEOs plan to increase their organization’s headcount by 5% or more within the year – more than double the proportion expecting staff reductions (17%). This represents an increase from 39% last year, with smaller companies (less than US$100 million) and sectors like technology (61%), real estate (61%), private equity (52%), and pharma and life sciences (51%) leading the way.
However, macroeconomic volatility (29%) and inflation (27%) remain the most significant global risks. Regional variations are evident: geopolitical conflict is a top concern in the Middle East (41%) and Central and Eastern Europe (34%), while cyber risks (27%) are most pressing in Western Europe. In Africa, inflation is the primary concern (39%), aligning with global trends in North America and Asia-Pacific.
“This year’s CEO Survey findings highlight a stark juxtaposition – business leaders around the world are optimistic about the year ahead, but also know they must re-invent how they create, deliver and capture value,” says Mohamed Kande, PwC Global Chairman. “To thrive, business leaders must act now and take bold decisions around their strategy.”
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