ABSA's Peter Matlare on #WEF20, blockchain, challenger banks and the Davos 'watering hole'

Big banks in South Africa are in a fierce battle to claim the top spot of the biggest and best bank in the country. And now there are several new digital banks that have popped up who want to challenge the hegemony of the big banks. This year there were retrenchments at Nedbank, which can be attributed to an onslaught from smaller, nimbler banks such as Bank Zero, Tyme Bank and Discovery Bank. And now South African regulators approved a bank operating licence for Goldman Sachs, which seeks further expansion in the South African economy. Deputy Group CEO of Absa, Peter Matlare told Biznews that all banks are in transition. - Linda van Tilburg