General Information

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Population

60.1M

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Online population

43M

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Currency

ZAR


Market overview


Population - 60.1M

South Africa counts three capitals and eleven official languages.

Internet penetration - 72%

There were 43M internet users in South Africa in January 2023.


FinTech Outlook: Trends, Insight & Technology


South Africa tracks well from a funding perspective. From January 2015 till May 2022, a total of 357 individual South African tech startups raised a combined shy of $1B, a figure topped only by Nigeria over that time.

<aside> 📌 **TymeKiosk by TimeBank**

TymeKiosk enables bank customers to open a fully cycled bank account in minutes, at a fraction of the cost of traditional banks. The process is fully automated with little to no documentation required.

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Banks


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Digital banks


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<aside> 📌 The top independent Neobanks by customer numbers: