foreign exchange Archives

South Africa regulator strips HSBC of forex license after 30 years

South African Reserve Bank Financial Surveillance Department has revoked the Johannesburg branch of HSBC as an authorised foreign exchange dealer, ending a relationship that stretched for more than three decades. The decision removes one of the lender’s remaining regulatory links to the country. The move reflects a broader shift among global banks reassessing their presence in parts of Africa and…

Oluwatosin Alao May 18, 2026

Business Hot News

South Africa’s SPAR exits UK market in $17.4 million disposal deal

SPAR Group exits UK in $17.4 million disposal, selling 71 stores as it shifts focus to Africa and Ireland, cutting debt and restructuring.

Timilehin Adejumobi May 18, 2026

Business Hot News

Egypt’s Fawry targets fintech acquisitions worth $2.4 million

Fawry is in talks to acquire $2.4 million tech firms to expand its fintech ecosystem and strengthen Egypt payments infrastructure deal push grows

Feyisayo Ajayi May 18, 2026

Business Tourism

Hilton expands South Africa footprint with new KwaZulu-Natal Tapestry hotel

Hilton is expanding deeper into South Africa’s tourism market with a new hotel project in KwaZulu-Natal, a province known for its wildlife, beaches and cultural attractions. The global hospitality group announced the signing of Umfolozi River Hotel, KwaZulu-Natal, Tapestry Collection by Hilton, in partnership with Umfolozi Hotel and Spa. The hotel will be built in Mtubatuba in northern KwaZulu-Natal and…

Oluwatosin Alao May 18, 2026