The coming banking revolution
Can global digital bank Revolut disrupt a market all but sewn up by five incumbents?
On September 23 2025, Revolut announced, via press release, its planned entry into the country. South Africa CEO Jacques Meyer was bullish: “South Africans are ready for a new approach to banking. The market is primed for disruption, and we see a clear opportunity to bring our product expertise and customer-first approach to a country that is hungry for innovation.” Converting this objective into real, active customers is the trick.
The primary challenge is that the incumbents have 66mn clients between them. One might argue that it’s these very customers at Capitec, Standard Bank, FNB, Absa and Nedbank that are there for the taking.
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