CFD Brokers’ Widely-Listed Funding Option Wise Enters Africa

Wise has secured conditional approval from the South African Reserve Bank to operate in the country, marking the company’s first regulatory license in Africa.

The UK-listed fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term can now offer personal money transfers in South Africa, joining a market where demand for faster, cheaper, and more transparent cross-border payments is growing.

Global fintech firm Wise has secured conditional approval from the South African Reserve Bank (SARB). The licence allows Wise to operate as a Category 2 Authorised Dealer in Foreign Exchange with Limited Authority.

Click the link in our bio for more information.

Read more:… pic.twitter.com/3xnPCfgyul

— Business Tech Africa (@BusinessTech_SA) December 1, 2025

Regulatory Nod Gives Wise First African Footprint

Commenting about the expansion, the UK Prime Minister Keir Starmer says: “Wise’s expansion into South Africa not only strengthens ties with one of Africa’s most dynamic economies but also showcases British excellence in building solutions that make life better for people and business worldwide, both at home and abroad.”

“This is yet another example of a thriving UK business expanding internationally, that success is good for British jobs, good for growth and good for business,” he adds.

• Wise’s H1 Profit Declined Due to a Spike in Expenses
• Wise Ends Q1 FY26 with 11% Jump in Income
• Business Transfers Boom at Wise, but Personal Accounts Still Dominate

The South African Reserve Bank (SARB) approved Wise as a Category 2 Authorized Dealer in Foreign Exchange with Limited Authority (ADLA). The license allows the firm to provide cross-border payment services once final conditions are met.

South Africa, the continent’s largest economy, handles significant international money flows, driven by a large diaspora and growing digital adoption. Wise’s entry aims to reduce fees, increase speed, and improve transparency compared to traditional providers.

Wise Expands Globally

The latest authorization adds to Wise’s growing global presence, which now includes more than 70 regulatory approvals worldwide. The company recently received in-principle approval to operate in India as a payment aggregator, obtained a retail payments license in the UAE, and became the first non-bank to go live on Japan’s Zengin payment network.

Last month, Wise reported £658 million in revenue for the first half of 2025, up 11% year on year. Its pre-tax profit, however, declined 13% to £254.6 million.

The company has reportedly been exploring the possibility of applying for a banking license in the United Kingdom. The Times recently reported that the company has contacted senior figures in the financial sector in recent months about roles related to a potential banking operation.

If granted a license, Wise would join Revolut, which received a UK banking license from the Prudential Regulation Authority last year. Revolut’s license included restrictions, enabling the London-based firm to gradually build its banking operations ahead of a full-scale launch.