South Africa's biggest retailers bets on South Africa's informal economy with $1.3 billion ...

Pepkor Holdings is merging its fintech subsidiary Flash with merchant payments platform Shop2Shop to create FintechCo, a R21.3 billion ($1.3 billion) fintech platform targeting South Africa's informal economy of township merchants and small traders. The combined business will process over R200 billion in annual transactions and may eventually be listed separately on the Johannesburg Stock Exchange.

This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur reasons over.