The Deputy Minister of Trade, Industry and Competition, Ms Alexandra Abrahams, has welcomed the launch of ClearScore’s South African headquarters in Cape Town as a strong signal of investor confidence in the country’s digital economy and its long-term growth trajectory.
Delivering the keynote address at the launch, the Deputy Minister emphasised that the investment reflects a broader recognition of South Africa’s institutional depth, policy direction, and growing digital capabilities.
“This occasion carries significance beyond the opening of a new office. It signals confidence in South Africa as a destination for investment, innovation, and the development of globally competitive digital capabilities,” said Deputy Minister Abrahams.
ClearScore, a global financial technology firm, provides consumers with access to credit information and financial insights, enabling improved financial decision-making and expanding access to credit. Its expansion into South Africa aligns with government’s strategic focus on high-growth sectors that can unlock inclusive economic participation.
Positioning FinTech within South Africa’s Growth Strategy
The Deputy Minister underscored the centrality of financial technology within South Africa’s economic reform agenda, particularly in advancing financial inclusion, supporting small enterprises, and driving productivity gains.
“The FinTech sector represents a critical intersection between financial inclusion, technological innovation, and economic growth,” she noted.
In the South African context, where structural constraints continue to limit access to finance and economic opportunity, digital financial services provide practical mechanisms to broaden participation in the formal and informal economy. These interventions are closely aligned with the dtic’s policy emphasis on enabling enterprise growth, improving market access, and reducing barriers to entry.
The Deputy Minister reiterated the Department’s commitment to maintaining a policy and regulatory environment that supports innovation while ensuring stability and consumer protection. This includes ongoing reforms in digital finance, data governance, and emerging technologies.
“We are committed to creating a policy environment that supports innovation while safeguarding stability. The development of a competitive FinTech ecosystem requires coordinated engagement between government, industry and investors,” she said.
This approach is supported by targeted interventions to build the capabilities required for sectoral growth, including investments in digital infrastructure, skills development, and innovation support programmes such as the Technology and Human Resources for Industry Programme.
Consistent with broader dtic policy frameworks, these measures are designed to crowd in private sector investment, strengthen local value chains, and position South Africa as a competitive destination within global digital markets.
The Deputy Minister emphasised that sustained growth in the digital economy will depend on effective partnerships between government, industry, and international investors. The presence of global firms such as ClearScore contributes to the transfer of skills, the development of local ecosystems, and the integration of South African firms into global value chains.
“ClearScore’s decision to expand its presence in South Africa is both timely and welcome. We call on the company to partner with South Africans, invest in local talent, and grow its business in the country,” she said.
She further noted that South Africa is well positioned to emerge as a leading FinTech hub on the African continent, given its sophisticated financial sector, established regulatory institutions, and growing pool of digital talent.
The launch of ClearScore’s headquarters in Cape Town represents a concrete step towards realising this ambition, while reinforcing a shared commitment to building an economy that is more dynamic, inclusive, and resilient.
Enquiries
Phumzile Kotane – Media Relations
Tel: (012) 394 1147
Mobile: 071 462 8246
WhatsApp: 071 462 8246
E-mail: PKotane@thedtic.gov.za
Issued by: The Department of Trade, Industry and Competition (the dtic)
X: @the_dtic
Facebook: https://www.facebook.com/thedti?mibextid=ZbWKwL
YouTube: https://www.youtube.com/@thedtic
Website: https://www.thedtic.gov.za/
Share this:
