The Monocle Banking Podcast

If you think fintech is all about slick apps and digital wallets, this conversation might change your perspective…

Michael Avery was joined by Jonathan Smit, co-founder of PayFast, to unpack his entrepreneurial journey and the evolution of payments in South Africa. From identifying payments as a critical gap in the early internet economy to exploring how fintech has shifted from standalone products to embedded features within broader financial ecosystems.

The discussion also touched on Smith’s move toward infrastructure through his acquisition of iVeri, and why the real scarcity in the ecosystem isn’t capital - but founders with the grit and ability to execute.

Restructuring is often seen as a last resort - but what if that thinking is costing companies their survival?

Michael Avery was joined by CEO of RTgroup, Michael Dorn, to unpack the critical evolution of business restructuring, highlighting how companies typically engage restructuring officers far too late to preserve value. From identifying early warning signs like deteriorating cash flow and C-suite denial, to reframing turnaround strategies as compelling investment cases, the conversation offered practical insights for leaders navigating uncertainty - while challenging the stigma around restructuring as a proactive tool for resilience rather than a last resort.

Sustainable finance has evolved from intent to accountability - and in South Africa, that shift is becoming tangible. In a country where water scarcity is a growing constraint, natural capital is being redefined as critical infrastructure, with capital markets beginning to price in real environmental outcomes.

Michael Avery was joined by Martin Potgieter (Director of Natural Capital at RMB), Kalina Miller (Regional Manager, IFC), and Louise Stafford (Country Director, The Nature Conservancy) to unpack South Africa’s first water performance-based bond - an innovative structure where investor returns are directly linked to verified ecological results.

Insurance in Africa is changing fast. AI can now flag fraud in seconds, mobile platforms are reshaping access, and customer expectations are higher than ever.

This week, Michael Avery spoke with Pravin Kalpage, CEO of Hollard International, about what these shifts really mean for the industry. Kalpage shared how insurance is moving beyond transactions toward ongoing engagement - and why partnership-led growth is proving powerful across Africa.

South Africa’s banks are delivering strong financial results - but the real story lies in what sits beneath the numbers. Michael Avery was joined by PwC Africa’s Financial Services Leader, Costa Natsas, as they unpacked the sector’s latest results and explored what’s driving performance in a shifting economic and competitive landscape.

Beyond the headline growth, the conversation examined the structural changes reshaping banking - from the uncertain returns on AI investments to the race for personalisation, SME growth, and pan-African expansion - and what it will take for incumbents to stay competitive in an increasingly tech-driven world.