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FNB Acquires South African Company Selpal
FNB Acquires South African Company Selpal

South African fintech company, Selpal, has been acquired by First National Bank (FNB). The partnership started back in 2018 when FNB bought a minority stake in the company to offer financial services to the informal market.

Johannesburg-based Selpal connects informal retailers, traders and other service providers with suppliers and customers, enabling them to shop and pay for items via its point-of-sale (POS) platform. Selpal offers a product “The Vault” which allows users to store and save cash anytime.