Wise receives conditional approval to launch in South Africa — first licence in Africa #
Wise has secured conditional regulatory approval from the South African Reserve Bank to operate as a Category 2 Authorised Dealer in Foreign Exchange with Limited Authority, enabling the company’s entry into South Africa — its first regulatory license on the African continent
With this approval, Wise can begin offering international money transfers to personal customers in South Africa, promising a more transparent, cost-effective alternative to traditional cross-border payment channels. The move responds to growing demand for affordable remittance services among South Africans and the country’s diaspora, especially as digital adoption increases
The South African launch aligns with global efforts under the G20 roadmap to improve cross-border payment transparency and affordability — making Wise’s entry a potentially significant step toward greater financial inclusion and cheaper international transfers for users in Africa
While this is a conditional approval, it marks a major milestone in Wise’s expansion strategy beyond Europe and the Middle East, reinforcing the company’s ambition to become a truly global payments infrastructure provider