Sava Partners With Access Bank to Launch SARB-Approved Digital Banking Platform for South African SMEs

The South African Reserve Bank (SARB) has granted regulatory approval to Sava to launch a digital banking platform tailored for local small and medium-sized enterprises (SMEs).

Developed in collaboration with Access Bank, the platform aims to empower SMEs to gain full control of their financial operations and unlock new growth opportunities.

Sava has successfully completed industry testing, integrated with the National Payments System, and met all go-live conditions set by regulators. Additionally, it has obtained licenses and approvals from the Financial Sector Conduct Authority (FSCA) and the National Credit Regulator (NCR). The platform has also undergone a recent audit by Deloitte, further solidifying its credibility.

“We are thrilled to have received the necessary regulatory approvals, enabling Sava to transform the SME banking landscape in South Africa,” said Kolawole Olajide, CEO of Sava. “Our platform addresses the unique challenges faced by SMEs, serving diverse businesses from traditional sectors to emerging fintech players, empowering them to thrive in an increasingly digital world.”

While an official launch date has not been announced, Sava’s receipt of SARB’s approval marks one of the final steps in preparing the platform for release.

In recent developments, Sava partnered with Mastercard to introduce its Payment Transaction System to businesses in South Africa, Nigeria, Kenya, and Egypt. The system provides expense management tools such as digital accounts, rule-based card issuance (available in both physical and virtual cards), invoicing management, custom workflows powered by AI, and seamless accounting integrations. These features aim to enhance financial transparency, efficiency, and cost savings for SMEs.