Tag: credit score

While some South Africans may have been notified by their banks, many consumers are not aware of the recent change in South Africa's credit reporting system, where banks are now required to report overdrafts if consumers are overdrawn by more than R500 for a period of 30 days.

The 2025 national budget speech has been delivered. As a result, predictions suggest possible PAYE and VAT increases. These forecasted hikes signal tighter financial conditions for consumers. In response, maintaining a strong credit score has become more critical than ever. It’s not just key for accessing loans. Importantly, it also shapes employment prospects and long-term financial security.

In Kenya's competitive banking and finance sector, converting customer interactions into successful transactions is critical. Financial institutions aim to distinguish themselves through this strategy. With the country’s rapidly expanding mobile penetration, there is a need for innovative communication strategies.

The rapidly developing financial landscape in South Africa is driving greater financial inclusion through innovative consumer credit approaches. At its core, this mission integrates alternative data, technological advancements, and a balanced strategy for innovation and risk management.

In many African cultures, the conclusion of lobola negotiations marks a major milestone. It symbolises the formal union of two families. While this deeply rooted tradition is widely embraced, fewer people understand its impact on homeownership.

With Black Friday around the corner – a time when credit and account cards are in heavy use – we are urging consumers to stay alert against the rise in fraudulent activities. The increase is the use of online platforms for shopping and managing bills, opens us up to more advanced types of fraudulent activity, so preventing and minimising the risk of financial fraud is important.

Small and Medium Enterprises are the cornerstone of the global economy. The 2024 United Nations General Assembly designated June 27 as "Micro, Small, and Medium-sized Enterprises (MSMEs) Day" to raise awareness of their contributions toward achieving the United Nations Sustainable Development Goals (SDGs) - specifically SDG 8 (decent work and economic growth) and SDG 9 (industry, innovation, and infrastructure).

As Artificial Intelligence (AI) technology continues to evolve globally, its integration into the South African business landscape is becoming increasingly prominent. Companies across various sectors are leveraging AI to drive efficiencies, optimise operations, and create new revenue streams.

Against all odds, 2024 is still believed to be the year of the first-time homebuyer resurgence. And while it’s a slow climb to the top, a combination of low house prices, competitive bank interest rates and impending rate cuts has many aspiring homebuyers hungry to get into the property game.  

The trade finance ecosystem plays a crucial role in facilitating international trade by providing financing and risk mitigation services to importers, exporters and other participants in the global supply chain. In recent years, the trade finance ecosystem has undergone significant transformations driven by technological advancements and the growing importance of data – and we’re proud to be leading the charge in and for Africa.