South Africa’s Bank Zero breaks even as partnerships fuel growth

Bank Zero, the South African app-only bank, has reached break-even five years after opening to the public, with a partnership model that could now let it scale far beyond its own customer base.

The lender recorded its first break-even month in August, meaning its revenue covered its operating costs for the month. It does not mean the bank has become consistently profitable, and Bank Zero expects earnings to remain uneven in the short term.

Its next phase will rely on…