Author: Gugu Lourie

South African fintech startup Tappy is launching a digital payments revolution from the ground up, targeting the millions of service workers left behind by the cashless shift. With 50,000 devices already distributed, its low-cost wearable platform enables instant tips and payments without the need for cards, apps, or even a bank account, beginning its national rollout in December 2025. The system directly addresses a growing economic rift, where consumers increasingly carry no cash, while workers like petrol attendants, car guards, and waiters remain dependent on physical notes and coins. Tappy’s solution is a simple NFC-enabled wearable linked to a digital…

A new mobile solution aims to bridge the digital divide for deskless employees. It promises enhanced productivity, security, and centralized management for enterprises. Vodacom Business has launched an enhanced Corporate Connect offering, a mobile solution engineered to provide South Africa’s frontline workers with secure, scalable, and reliable connectivity. This move directly targets the digital inclusion of millions of deskless employees who form the backbone of the country’s key industries. “At Vodacom, we believe that digital inclusion should extend to every employee, not just those behind a desk,” said Mncedisi Mayekiso, Managing Executive: Direct Sales Private and Public Sector at Vodacom Business. “Our Corporate…

In a significant enforcement action, the Financial Sector Conduct Authority (FSCA) has imposed a R12.6 million administrative penalty and a 15-year industry debarment on a company and its director for running an unlicensed insurance operation and obstructing a regulatory investigation. The penalty has been levied jointly and severally against The Relocations Group (Pty) Ltd and its director, Mr Kyle Bary Tiltman. Tiltman has also been debarred for 15 years, effectively banning him from any role in the financial sector. The investigation was triggered by client complaints and uncovered that South African Relocations (Pty) Ltd and its successor, The Relocations Group, “offered marine insurance…

The Financial Sector Conduct Authority (FSCA) has come down hard on Bhaca Green (Pty) Ltd, issuing a massive R9 million fine and a 20-year industry debarment against its director for running an unauthorised forex trading scheme that misused investor money. The case has been escalated to the police for potential criminal prosecution. The regulatory action sees Mr Songeziwe Mbalo debarred for two decades and hit with an administrative penalty of R9 million, imposed jointly and severally on him and Bhaca Green. A further penalty of R50,000 was imposed on Mr Lungile Mgilane for rendering financial services on behalf of the unauthorised…

The Financial Sector Conduct Authority (FSCA) has made a decisive final move against Afrimarkets Capital (Pty) Ltd, permanently withdrawing its financial services provider (FSP) licence. This action concludes a regulatory process initiated in July 2025, stemming from an investigation that uncovered severe misconduct, including the misappropriation of client funds. The FSCA provisionally withdrew the licence on 4 July 2025 based on preliminary findings. After considering representations from Afrimarkets, the regulator has now finalized its decision. “The FSCA is of the view that Afrimarkets materially contravened various financial sector laws and no longer meets the fit and proper requirements to operate…

In a decisive crackdown on a complex financial fraud, the Financial Sector Conduct Authority (FSCA) has slammed the Medbond Group with a massive R197 million administrative penalty and issued a 30-year industry debarment against its key figure. The landmark action, totaling over R212 million in fines, targets a scheme where clients were advised to invest in a completely fictitious financial product. The FSCA imposed the R197 million penalty jointly and severally on Medbond Insurance Brokers (Pty) Ltd and its director, Mr Jacobus Meyer. Three related entities – Medbond Markets, Medbond Fund Managers, and Masjamplan – were fined R5 million each. In…

In a landmark enforcement action that sends a shockwave through South Africa’s financial sector, the Financial Sector Conduct Authority (FSCA) has levied a staggering R2 billion penalty against Banxso (Pty) Ltd and its directors. This unprecedented move, part of a total penalty package exceeding R2.16 billion, comes alongside the multi-decade debarment of key individuals for what the regulator describes as “serious and deliberate” misconduct. The investigation found that Banxso and its key persons, inter alia, misappropriated client funds, provided false and/or misleading information to clients and to the FSCA, promised clients unrealistic returns and failed to act in the best interests of its…

Sanlam’s new prepaid funeral cover works like buying airtime, offering flexible terms to tackle income uncertainty. The product aims to include millions previously locked out of traditional insurance. In a major shift for the industry, Sanlam has launched South Africa’s first prepaid funeral cover, directly confronting the problem of lapsed policies due to irregular incomes. Developed by its digital arm, Digisure Long-Term Insurance (LTI), the product allows clients to purchase cover upfront for 3, 6, or 12 months, mirroring the pay-as-you-go model used for airtime and electricity. “The concept mirrors the way many people already buy airtime, data or electricity…

A pioneering investment model that embeds a new CEO directly into a business is making its debut in South Africa’s industrial sector. Secha Capital, alongside 27four and Shade Tree Capital, has announced a strategic investment in Barracuda Holdings Ltd, a leading local electronics manufacturing services (EMS) provider. The deal introduces the Chief Executive Operator Investor (CEOI) model, designed to pair capital with hands-on operational leadership. The transaction sees Aengus Stanley, founder of Shade Tree Capital, originate the deal and become Barracuda’s new Chief Executive Officer and a significant shareholder. Founders Rob Steltman and Ryan Webb will remain actively involved, focusing…

Capitec has entered into a binding agreement to acquire 100% of fintech innovator Walletdoc. The deal, valued at up to R400 million, signals a fierce new chapter in the competition for the country’s online and in-app transaction flows. The bank announced  today its agreement to acquire Walletdoc Holdings, subject to regulatory approvals. Walletdoc, established in 2015, is a South African fintech providing scalable, innovative payment gateway solutions for merchants, including online and in-app payments, digital wallets, Instant EFT, payment links, and real-time payouts. The acquisition is a direct challenge to traditional payment processors and a masterstroke in capturing the fast-growing…