Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
South African discount retailer Pepkor said on Tuesday it plans to launch its bank in April 2027, using its wide store network to build a new financial services business. The company wants to attract 1.8 million primary banking customers within five years.
Pepkor said the bank will combine digital and physical services, allowing customers to transact across more than 6,500 stores nationwide. The retailer already processes about 22 million cash-in and cash-out transactions and 4 million bill payments each year, giving it a large base to build on.
The move comes as South African retailers increasingly expand into financial services to diversify revenue. Banking products typically offer steadier, higher-margin income and more frequent customer engagement than traditional retail alone.
Pepkor chief commercial officer Garth Napier said the group is building an integrated ecosystem based on rising smartphone use and stronger uptake of services such as loans and insurance. He said the new bank would extend that strategy into a full banking offering.
Chief financial officer Riaan Hanekom said Pepkor had originally targeted spending of about 1 billion rand on the bank, but now expects total costs to come in below 920 million rand, pending final regulatory approvals. The retailer said it is still working through the remaining approval process before launch.
The banking plan came alongside stronger half-year results, with headline earnings per share rising 10.3% to 93.1 cents. Group revenue climbed 13.2% to 54.8 billion rand, supported by acquisitions, growth in the PEP clothing brand and rising demand for financial services.
