Barclays Africa has launched the physical and virtual global start-up community Rise at the The Bandwidth Barn in Cape Town, South Africa to support fintech innovation.

The bank already has Rise sites in London, Manchester, New York, as well as also announced plans to open a Rise hub in Tel Aviv.

The Cape Town site will offer co-working facilities, events space, and a bespoke setting for various initiatives including the Barclays Accelerator programme.

The bank announced its plans to open a Rise hub in Cape Town in October 2015.

Barclays chief design and digital officer and architect of the global Rise programme Derek White said at that time: "Rise is about connecting the world’s most active innovators to each other, to corporates and to resources and by expanding to another continent means we’re able to broaden this network further.

"We’re unlocking the power of open innovation to co-create the future of financial services, which will ultimately benefit customers and clients across the globe."