Wise, the global fintech company, has received conditional regulatory approval to launch its services in South Africa, marking its first entry into the African continent. The expansion aims to make international money transfers faster, cheaper, and more transparent for millions of South Africans.
The announcement comes shortly after UK Prime Minister Keir Starmer's visit to South Africa during the G20 summit. Highlighting the significance of Wise's expansion, the Prime Minister stated that it strengthens ties with one of Africa's most dynamic economies and demonstrates British excellence in creating solutions that benefit people and businesses worldwide. He emphasized that such international growth contributes positively to British jobs, economic growth, and business success.
Wise's move into South Africa also aligns with the country's commitment to the G20 Roadmap for Enhancing Cross-Border Payments, a global initiative designed to make international payments more accessible, transparent, faster, and cheaper by 2027. By establishing operations in South Africa, Wise supports these objectives while providing South Africans with improved digital financial services.
