that focuses on high-net-worth individuals in South Africa, is expanding its business banking unit with a payments system for its corporate clients to process high-volume, low-value payments.— South Africa’s new low-value, real-time rapid payments platform — to build out its new banking offering, Kuben Naidoo, the bank’s head of corporate payments, said in an interview.
Investec, which is also listed in and has operations in the UK, has been pursuing the clients of its bigger South African rivals and seeking new sources of income in recent years to offset sluggish growth in the economy. GDP has expanded by an average of less than 1% over the past decade.
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