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TymeBank is onboarding more than 300 000 customers a month in both South Africa and the Philippines, according to its majority shareholder, African Rainbow Capital (ARC), which is owned by billionare Patrice Motsepe.
The group has adopted a prudent approach to credit approvals as credit demand reportedly reaches record levels.
The Foschini Group's turnaround of discount clothing chain Jet is grabbing the attention of a larger rival as competition for the lower end of the market intensifies.
South African retailer The Foschini Group (TFG) has reported a drop in earnings on the back of increased inflationary pressure on consumers and constant power cuts.
The retailer saves more than 2 000 workdays per year due to automation, with a 240% return on investment.