Standard Bank to spread its wings in Africa to fight off circling fintech firms
15 October 2020 - 09:03
Standard Bank Group is planning to scale up some of its operations on the continent and further digitise its systems to fend off fintech firms encroaching on its client base.
Companies such as Ant Group’s Alipay unit are seeking to tap emerging markets such as Africa and its 1.2-billion people through financial-services offerings. This is complicating the strategies of SA banks that have turned to the rest of the continent for growth, as their home market grapples with a recession, corruption and high joblessness...
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