South Africa’s banking landscape just got even more competitive. Retail giant Pepkor owner of the country’s largest retail footprint and a massive 10-million-plus digital customer base has officially received approval from the Prudential Authority to enter the banking sector. And the industry is watching closely.

Gugulethu Mfuphi speaks to David Shapiro, Chief Global Equity Strategist at Sasfin Wealth, to unpack what Pepkor’s entry means for a market already reshaped by Capitec, TymeBank, Discovery Bank and Bank Zero. With SA fast becoming a multibanked society, this move marks one of the most significant disruptions since the rise of challenger banks a decade ago. Kaya FM