Nexora Capital — Regulatory & Compliance Framework
The regulatory and compliance framework underpinning Nexora's SME digital-banking and lending platform.
Section 16 · Business Plan
Regulatory & Compliance Framework
The regulatory and compliance framework underpinning Nexora’s SME digital-banking and lending platform.
Nexora’s regulatory strategy is deliberately staged to match product
ambition to licence burden, avoiding the capital and timeline cost of a
full banking licence during the ramp years.
| Regime | Requirement | Status / plan |
|---|---|---|
| National Credit Act (NCR) | Registration as credit provider; WarehouseCo separately registered | Application at M3; condition precedent to first disbursement |
| FSCA | FSP licensing for applicable advice/intermediary services | Application at M4 |
| Sponsor-bank partnership | Deposit-taking via BaaS partner; Nexora never holds deposits on own balance sheet | Term sheets M3–M9; dual-track two providers |
| FIC Act | Accountable-institution registration, AML programme | Build M4–M10 |
| POPIA | Information officer, consent framework, cross-border transfer rules | Design-stage compliance |
| PCI-DSS | Certification of card/payment perimeter | Pre-launch audit M11 |
| Regional (Phase 2/3) | BoB, BoN, BoZ, CBK licensing per market | Partnership-led entry; local sponsor institutions |
floor, not a ceiling
Regional expansion (Phase 2–3) will attract minimum-capital and
local-shareholding requirements in each market that are not fully
knowable at close. The plan treats the R60m allocation as covering SA
requirements plus initial Botswana/Namibia entry; East African entry is
explicitly gated on the Series B raise. A mutual-bank or digital-bank
licence in SA remains a Year-5+ option that would unlock deposit funding
and materially reduce cost of funds, but is deliberately excluded from
base-case economics.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Nexora Capital (Pty) Ltd.