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South Africa’s Bank Zero plans partnerships to offer loans

By David Whitehouse
Posted on Tuesday, 7 September 2021 13:04

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South Africa’s newest financial services challenger Bank Zero plans to use partnerships to add credit to its product offer, co-founder Lezanne Human tells The Africa Report.

“We will in future originate credit by partnering with other providers,” Human says in Johannesburg. The bank is “very open” to partnerships and no timetable for offering credit has yet been set.

Bank Zero finally opened for business in August after originally planning to launch in 2019. The digital-only bank joins new challengers such as TymeBank and Discovery Bank who are trying to win market share from incumbents. The bank uses its app to handle processes from onboarding to support with no branches or call centres.