Pepkor Eyes 2027 for the Rollout of a New South African Bank

Pepkor Holdings Ltd. hired Merwe Scholtz to lead a new banking push as Africa’s largest clothing and mobile phone retailer prepares to launch an independent lender as early as next year.

The Cape Town-based company already sells smartphones and extends credit to customers and said in an investor presentation Tuesday that adding deposits would complete a full-service banking offering — confirming earlier Bloomberg reporting that it was weighing such a move.