South Africa’s banks have become the exit ramp for its fintechs
- Nedbank acquired payments fintech iKhokha for R1.65 billion.
- Capitec has purchased WalletDoc.
- TymeBank acquired SME lender Retail Capital.
The shift towards local acquisitions by South African banks indicates a maturing tech ecosystem that is beginning to recognize the value of innovation through collaboration. This trend could lead to a more robust venture capital environment, but it is essential to ensure that the quality of investments remains high and that the focus is not solely on quick exits.
