THE FUSE

Retail Giant Pepkor Makes Power Move Into Banking. Pepkor Holdings has confirmed that it has secured regulatory approval to establish a banking presence in South Africa, marking one of the most significant strategic shifts by a major retailer in recent years. The approval, granted by the Prudential Authority in November, paves the way for the clothing and household goods giant to expand beyond its traditional retail and financial services offerings and formally enter the country’s highly competitive banking sector.