Lelapa AI's Ambitious Growth Plan | ITWeb Tech Headlines | 31 Aug – 5 Sept 2026
These are the stories making headlines on ITWeb this week. South African AI start-up Lelapa AI is expanding its Vulavula platform with text-to-speech capabilities and new languages beyond Africa, as it builds efficient AI models tailored for African languages. Meanwhile, Discovery Bank posted its first full year of profit, with normalised operating profit of R370 million and client numbers growing 26% to 1.57 million, as it leans on AI to power its new "super bank" strategy.
The Financial Sector Conduct Authority fines unlicensed finfluencers, warning unauthorised financial advice can trigger regulatory action.
SA has licensed 300+ crypto firms, but decentralised finance is pushing financial activity beyond traditional regulatory oversight.
The watchdog intensifies enforcement as deepfake technology fuels increasingly sophisticated investment scams.
South Africans increasingly fall victim to investment scams promoted through social media, prompting tougher protection efforts.
The fintech is authorised as an over-the-counter derivatives provider and category one financial services provider.
Many TikTok finance advice videos created by influencers blur the line between education and potentially harmful financial promotion, warns an FXTM study.
SA’s regulatory clarity and financial system are key factors in Bitexen’s decision to establish a local presence, it says.
The financial watchdog investigates online trading platforms, citing high investor losses and conflicts of interest, while ramping up supervisory tech capabilities.
The Financial Sector Conduct Authority plans a National Scam Centre to combat cyber fraud, with banks and regulators collaborating to protect consumers nationwide.
The Conduct of Financial Institutions Bill is poised to simplify fragmented regulation, while enabling innovation and encouraging firms to integrate AI responsibly.
Navigate Compliance has launched its Regulatory Reporting capability powered by AURA, a RegTech data platform designed to support financial institutions across multiple regulatory frameworks.
The authority finds no evidence of unlawful activity, but issues penalties to Livestock Wealth for creating a false licensing impression.