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Barclays makes Absa sale official

Barclays makes Absa sale official

The Barclays group has submitted an application to the South African Reserve Bank (SARB) to reduce its shareholding in Absa to below 50% the company said in a shareholder statement on Thursday.

Banking - By Staff Writer | 23 February, 2017
It’s official: Absa won’t face punishment for rand price-fixing

It’s official: Absa won’t face punishment for rand price-fixing

The Competition Commission has granted Barclays Africa conditional immunity from prosecution in return for its continuing cooperation in the rand currency rigging probe.

Banking - By Staff Writer | 21 February, 2017
New Capitec banking fees for 2017

New Capitec banking fees for 2017

Banking group Capitec has released its new fees for 2017/18.

Banking - By Staff Writer | 21 February, 2017
Citibank to pay massive fine in SA currency trading collusion scandal

Citibank to pay massive fine in SA currency trading collusion scandal

The Competition Commission says it has filed with the Competition Tribunal a settlement agreement reached with Citibank for being part of the forex trading cartel.

Banking - By Staff Writer | 20 February, 2017
New SA exchange ZAR X makes first listing

New SA exchange ZAR X makes first listing

South Africa’s first additional stock exchange in almost 60 years, ZAR X has launched its operations with the listing of integrated agri-business, Senwes and it’s holding company, Senwesbel.

Banking, Finance - By Staff Writer | 20 February, 2017
Beware these 8 online banking scams in SA

Beware these 8 online banking scams in SA

As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud.

Banking - By Staff Writer | 20 February, 2017
The South African financial services industry is selling you fairy tales: CEO

The South African financial services industry is selling you fairy tales: CEO

A finance CEO has questioned the complicated jargon in the asset management industry in South Africa which, she says, clouds the real cost of investing.

Banking - By Staff Writer | 17 February, 2017
Absa won’t face penalties for price-fixing: report

Absa won’t face penalties for price-fixing: report

ABSA won’t face punishment from the Competition Commission as one of the three banks helping manipulate the value of the rand because they co-operated with regulators, according to a new report.

Banking - By Staff Writer | 17 February, 2017
The worst-case scenario for South Africa’s colluding banks

The worst-case scenario for South Africa’s colluding banks

South African banks implicated in a currency trading price-fixing and collusion scandal could be in the dock for 10% of their annual turnover.

Banking - By Staff Writer | 17 February, 2017
Investment group buys into SA peer-to-peer lending firm RainFin

Investment group buys into SA peer-to-peer lending firm RainFin

RainFin and the LeBashe Investment Group have concluded a transaction for the latter to acquire a 30% stake in RainFin, for an undisclosed amount.

Banking - By Staff Writer | 16 February, 2017
SA banking collusion charges – why now?

SA banking collusion charges – why now?

The timing of the Competition Commission’s price-fixing case involving 17 banks seems suspicious, according to the Democratic Alliance.

Banking - By News24Wire | 16 February, 2017
3 South African banks face massive fines for price-fixing and collusion

3 South African banks face massive fines for price-fixing and collusion

Three South African banks have been implicated among 17 banking groups in ‘widespread’ collusion relating to the the price-fixing of the rand.

Banking - By Staff Writer | 15 February, 2017
The ANC wants to open a bank for the poor

The ANC wants to open a bank for the poor

The African National Congress in Limpopo has called on the provincial government to establish a pro-poor bank because poor people struggle to secure finance at major banks.

Banking - By News24Wire | 14 February, 2017
Warning: ATM card swap scam is on the rise – this is what to look out for

Warning: ATM card swap scam is on the rise – this is what to look out for

The South African Banking Risk Information Centre (Sabric) has issued a warning to the public to be on their guard amid high incidences of ATM card fraud in the country.

Banking - By Staff Writer | 13 February, 2017
Things aren’t looking great for South African banks in 2017

Things aren’t looking great for South African banks in 2017

Ratings firm S&P Global says that the general outlook for South Africa’s banks – much like South Africa itself – remains negative at the start of 2017, but pressure is easing.

Banking - By Staff Writer | 9 February, 2017
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