FNB has bolstered its Solopreneur offering which allows self‑employed earners, freelancers, and independent workers to manage both personal and business finances in one place, combining accounts, payments, tools, and rewards within a single banking profile – without needing to register a business or open a separate account. The platform forms part of FNB’s broader strategy to support individuals operating as “teams of one”.
According to Statistics South Africa, the informal sector now accounts for 21.4% of all employment as of Q4 2025, reflecting the scale of income-generating activity taking place outside traditional structures.
Sizwe Nxedlana, CEO of FNB Private Banking and Wealth Management explains that “freelance and contract work are growing, with more South Africans earning outside conventional employment through project‑based or entrepreneurial work. South Africa’s self-employed community, estimated at around four million people – is becoming an increasingly significant part of the country’s economic landscape.”
This shift represents a structural evolution in how South Africans earn a living. Millions of South Africans are earning independently across a range of sectors; and the opportunity to support their financial journeys has never been more important. This trend is already evident within FNB’s own client base, where just over 54% of Private Bank clients are self‑employed.
“The ‘business of one’ is transforming how people work and participate in the economy – and how they manage and grow their money”, adds Nxedlana. “Many individuals begin their entrepreneurial journeys informally, often managing both personal and business activity through a single account. We built Solopreneur to bring those worlds together, giving customers the tools to manage, grow, and formalise their finances as they scale.”
Rise of hybrid income models
The way South Africans earn is shifting. More people are freelancing, consulting, or running small enterprises alongside traditional employment, creating blended income models that challenge long‑held assumptions about how financial services are structured. This has driven demand for banking solutions that reflect the realities of modern work.
Lytania Johnson, CEO of FNB and of the newly formed Retail and Business Banking unit, highlights this shift, “Research shows that over 1.5 million South Africans now work independently, with the freelance economy continuing to grow. Many independent earners operate hybrid income models, combining employment with entrepreneurial ventures. Solopreneur is built to support this evolving way of working.”
As people earn income across multiple streams, the traditional divide between personal and business finances becomes less relevant, yet conventional banking still treats them separately. “For independent earners, navigating multiple accounts, systems, and tools creates unnecessary friction – from splitting transactions to tracking income. Customers live and earn through a single identity – their banking should work the same way,” Johnson adds.
Delivering a fully integrated service
Solopreneur is built to simplify that experience. Through one onboarding process, customers gain access to:
- a personal account
- a credit card
- a business account
- merchant payment solutions.
All of these are integrated within their existing FNB retail profile, giving customers a unified view of their finances.
The platform includes digital tools such as invoicing, accounting capabilities, tax submission support, digital payment acceptance, financial and business education through Fundaba, marketplace access via Nav, and eBucks Rewards. An entry point via First Business Zero, with no monthly account fee, removes key cost barriers for early‑stage entrepreneurs.
Solopreneur brings together personal and business banking, payments, merchant services, rewards, tax support, and advisory services into one ecosystem – simplifying how customers transact and plan for growth. This also enables FNB to support clients earlier in their entrepreneurial journey and grow with them through credit, lending, investments, and insurance.
“Many customers are already running a business from their personal accounts. Solopreneur provides a more structured way to manage that reality – with the tools, visibility, and support to grow,” Johnson says.
Supporting sustainable business growth
Solopreneurs play an increasingly important role in South Africa’s economic future as more individuals build businesses around their skills and expertise. For many independent earners, irregular income complicates financial management. Solopreneur provides clearer separation between personal and business transactions, along with tools for invoicing, payments, and financial tracking – helping customers gain better visibility and control. The platform requires no formal business registration, making these tools accessible from the start. As businesses grow, customers can build a financial track record, potentially positioning them for future access to credit or working capital.
“This launch comes at a difficult time for the economy,” Nxedlana notes. Unemployment stood at 31.4% in Q4 2025, and more South Africans are turning to self‑employment and gig work to secure a livelihood. “Independent earners are becoming important contributors to the economy – earning through skill, creativity, and entrepreneurship. Solopreneur is designed to support that journey,” he concludes.