South African financial services company Discovery plans to make investments in its new digital bank ahead of a launch in March.
Discovery will boost its investment into new strategic initiatives, most notably to build and launch Discovery Bank, which is expected to roll-out to the public in March 2019.
The company will invest in five key new businesses in line with budget and fully provide for its capital plan over the period.
Discovery will spend 270 million rands ($19.2 million) in a new digital business where $6.4 million will be spent on build until the public rollout and an extra $12.8 million on a test and run.