Next Africa

South Africa’s Private Banks Vie for ‘Not Rich Yet’ Clients

Lenders target customers with high earning potential
The Discovery headquarters in Johannesburg’s Sandton business district.Photographer: Leon Sadiki/Bloomberg

Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. In today’s edition, we look at the shakeup in South Africa’s private banking market. And:

South African lenders are upending private banking.