Category archives for: Finance

Citibank to pay R69 million in banks collusion saga

Citibank

By BUSINESS REPORTER JOHANNESBURG, (CAJ News) – CITIBANK N.A will pay a fine of over R69,5 million ( USD 5,3 million ) following a settlement agreement with the Competition Commission over the bank’s involvement in a forex trading cartel. The Commission found that from at least 2007, Citibank N. and its competitors had a general […]

Huge growth in money transfers to Tanzania

Ismail Ahmed

From ALLOYCE KIMBUNGA in Arusha, Tanzania ARUSHA, (CAJ News) – DIGITAL money transfer service, WorldRemit, is consolidating its rapid expansion into Tanzania. It is supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad. The company achieved a new record of 10 000 unique transactions completed in the […]

Scammers revel at growth of digital banking

Yolande Steyn, Head of Innovation at FNB

By GIFT NDOLWANE JOHANNESBURG – CONSUMERS have been urged to be more vigilant and familiarize themselves with the different types of online banking fraud, in the wake of a surge of cybercriminals. The culprits are making the most of the access to banking services through digital channels continuing to grow. Yolande Steyn, Head of Innovation at […]

Funding secured to accelerate MTN growth in Iran

MTN-bar-chart

By TINTSWALO BALOYI JOHANNESBURG, (CAJ News) – IRAN’S leading internet company has announced the closing of a funding round led by MTN Irancell, an entity of the South African-based mobile network operator. The Iran Internet Group (IIG), with several million unique and paid transactions every month, whose ventures include the by far market-leading car hailing […]

Saab inks multi-million tech transfer with Hindustan

Saab tech transfer

By TINTSWALO BALOYI JOHANNESBURG, (CAJ News) – INDIA’S Hindustan Aeronautics Limited’s (HAL’s) Avionics Division will deliver transfer of technology (ToT) to South Africa’s Saab Grintek Defence (SGD). This follows a contract valued at ZAR112 million (USD8.5 million), confirmed on Friday. The agreement will see the transfer of technology for in-country maintenance of Saab’s Integrated Defensive […]

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