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Andile parent 42Markets Group secures investment from Convergence Partners Digital Infrastructure Fund
LONDON – April 25, 2023. 42Markets Group, the financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners, a leading private equity investor dedicated to the technology sector across sub-Saharan Africa, after it recently closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million.  42Markets Group CEO Andries Brink states, “this is a real vote of confidence in the positive impact investment in digital financial infrastructure can have, both in developing and in mature markets.” The most mature of the 42Markets Group businesses is capital markets services and advisory firm Andile (UK,,
Technology needs to drive compliance in countering money laundering
South Africa’s recent greylisting by the Financial Action Task Force (FATF) has raised concerns about the country’s compliance measures in countering money laundering and terrorism financing. To address this issue, leaders in the banking sector came together in a recent roundtable event in Johannesburg to discuss collaborative efforts aimed at helping South Africa exit the grey list. During the event, Cengiz Kiamil, VP of Strategy at Fenergo, stressed the value of using technology solutions to enable compliance at scale and to solve real-world problems. He suggested that a comprehensive platform solution that includes Know Your Customer/Client (KYC), Anti-Money Laundering (AML),
Technology can change how banks manage their new AML and CTF obligations
South Africa’s financial credibility has been in the spotlight for quite some time and was finally shredded when the country was greylisted by the FATF on 24 February. Even though the announcement may feel like an eternity ago in the rough and tumble of the South African newscape, the real work to regain the world’s trust has not even started yet. Make no mistake, there are different stakeholders, both in the public and private sector, that need to step up and take responsibility for pulling South Africa out of the FATF’s greylist. Taking responsibility implies action and accountability – like
A SADC Central Bank implements Calypso to match regional and global central banking peers’ standards.
Download Case Study The Company The Central Bank, located in Southern Africa, serves not only as a cornerstone of economic and financial stability, but also combines Reserves Management and Treasury functions to support the local currency and facilitate payments on behalf of the national treasury and of the government. Background Global institutions, including Central Banks, play an increasingly important role in ensuring financial stability. They must be well-prepared and have a reliable and stable Treasury system in place. This is especially crucial during times of crisis, such as the Covid-19 pandemic. To meet these requirements, the Central Bank chose Adenza’s