2024 has been an exciting year for South Africa’s fintech industry, brimming with innovation, creativity, and, most importantly, collaboration. As the Collaboration of the Year award takes centre stage at the South African FinTech Awards 2025, it’s the perfect time to highlight some of the groundbreaking partnerships that have not only redefined the fintech landscape but also set new benchmarks for innovation and inclusion.

Collaboration in fintech is like a masterful duet: when done right, it’s harmonious and impactful. Whether it’s digital banks partnering with telecom operators, payment platforms integrating with AI-powered fraud detection, or grassroots initiatives breaking barriers, collaboration is the secret ingredient to success in 2024. Let’s dive into some South African partnerships that have made waves this year.

1. TymeBank and Retail Capital: SMEs at the Heart of Growth

One of the most notable collaborations of 2024 was between TymeBank, South Africa’s digital banking trailblazer, and Retail Capital, a leading fintech lender. By joining forces, they revolutionised SME lending, providing businesses with the financial tools they need to thrive in a competitive environment. This partnership combined TymeBank’s advanced digital platform with Retail Capital’s expertise in alternative lending, creating a financial ecosystem tailored for SMEs.

Impact: SMEs gained access to fast, flexible funding solutions, empowering them to scale operations, hire more staff, and contribute to South Africa’s economic growth.

2. Lesaka Technologies and Connect Group: Financial Inclusion in Action

Formerly known as Net1, Lesaka Technologies transformed its mission to champion financial inclusion. Their acquisition of Connect Group for R3.7 billion was a game-changer for underserved communities. Together, they enhanced financial services access for merchants and individuals outside the formal banking sector.

Impact: Through an expanded network and innovative tools, this partnership bridged the gap for underserved communities, paving the way for broader participation in the economy.

3. Stitch and Chipper Cash: Seamless Cross-Border Transactions

Cross-border payments have long been a headache for individuals and businesses. Enter Stitch, a fintech known for its cutting-edge API infrastructure, and Chipper Cash, a platform that simplifies money transfers across Africa. Their collaboration has made cross-border transactions more efficient, secure, and affordable.

Impact: The partnership tackled Africa’s fragmented financial landscape, enabling smoother connectivity for businesses and individuals, and boosting intra-continental trade.

4. Yoco and Payfast: Unified Payment Solutions for SMEs

Payfast, one of South Africa’s leading online payment gateways, joined forces with Yoco, a go-to provider of card payment solutions. Together, they created a unified platform that allows businesses to accept payments both in-store and online.

Impact: This partnership brought unprecedented convenience to SMEs, enabling them to operate seamlessly across multiple channels and cater to an increasingly digital-savvy customer base.

5. MTN and Mastercard: Bridging Digital Gaps

Telecommunications giant MTN‘s collaboration with global payment leader Mastercard aims to advance financial inclusion. By leveraging MTN’s extensive network and Mastercard’s digital solutions, the partnership focused on creating mobile wallets and other financial tools for the unbanked.

Impact: Millions of South Africans now have access to secure and user-friendly digital financial services, reducing reliance on cash and enhancing economic participation.

6. Visa’s Africa FinTech Accelerator: Empowering Startups

Visa reaffirmed its commitment to fintech by hosting the second cohort of its Africa FinTech Accelerator in Cape Town. This initiative brought together 23 fintech startups, providing mentorship and opportunities for growth.

Impact: By connecting startups with investors, Visa has created a ripple effect, fostering innovation and enabling scalable solutions across South Africa and beyond.

7. Pargo and Amazon: Elevating E-Commerce

Logistics startup Pargo joined forces with global e-commerce leader Amazon, introducing click-and-collect services across South Africa. Customers can now collect parcels at over 3,000 pick-up points, reducing logistical hurdles and delivery delays.

Impact: This partnership improved accessibility for South African consumers and businesses, fuelling the growth of e-commerce in the country.

8. Entersekt and Capitec Bank: Fortifying Digital Security

Cybersecurity leader Entersekt partnered with Capitec Bank to enhance digital security for online banking. With Entersekt’s cutting-edge authentication technology, Capitec customers enjoy greater peace of mind.

Impact: This collaboration highlights the importance of trust in digital finance, setting a new standard for secure banking.

9. Nomanini and Standard Bank: Empowering Informal Retailers

Nomanini, a fintech serving informal traders, teamed up with Standard Bank to provide working capital and banking services to the informal sector. This partnership addresses a critical gap, giving traders tools to grow their businesses.

Impact: By enabling informal retailers to participate in the formal economy, this collaboration drives economic inclusion and development.

Collaboration: The Lifeblood of FinTech Innovation

What makes these partnerships so impactful? It’s all about synergy. By leveraging each other’s strengths, these companies have addressed challenges that couldn’t be tackled alone. They’ve built bridges where there were none, enabling innovation to thrive in South Africa’s fintech ecosystem.

As we celebrate the nominees for Collaboration of the Year, it’s worth asking: what makes a winning partnership? Here’s the magic formula:

• Shared Vision: Both partners must align on goals and values.
• Consumer-Centric Innovation: The best collaborations benefit the end user, whether through cost savings, convenience, or accessibility.
• Adaptability: In an ever-evolving fintech landscape, flexibility is key to staying ahead.

Why Nominate for Collaboration of the Year?

Being recognised for a collaboration at the South African FinTech Awards 2025 isn’t just about the trophy (though it’s pretty shiny). It’s about celebrating the hard work, creativity, and bold thinking that drives the industry forward. It’s also a chance to showcase your company on a platform that connects you with investors, clients, and partners.

So, if your partnership deserves the spotlight, nominate now. And if you’re wondering whether your collaboration made an impact, just think of all the lives and businesses you’ve touched along the way.

Let’s raise a toast to the partnerships that made 2024 extraordinary. Here’s to more innovation, collaboration, and game-changing alliances in the years to come!