Pepkor Group, the investment holding company linked to South African billionaire Christo Wiese, has received regulatory approval from the Prudential Authority to launch a banking operation, marking one of the most significant shifts in the companys 110-year history.
The group announced on Nov. 25 that it had been granted a license to begin operating in the banking sector, following Pepkors acquisition of CloudBadger, a fintech software business whose infrastructure will underpin the groups digital banking architecture by March 2026.
A deeper push to formalize Pepkors fintech ambitions