South Africa News Archives - AfricaBusiness.com

25Nov

By Africa BusinessNo Comments

South Africa News

NIQ Retail Barometer: South Africans Expend R214 Billion on FMCG and Durable Goods in Q3 2024

South African consumers have spent R214 billion on Fast-Moving Consumer Goods (FMCG) and Technology & Durable products in the third quarter of 2024, representing a year-over-year growth of 4.1%. This is according to new insight from the NIQ Retail Spend Barometer, which has been drawn from GfK – an NIQ company – intelligence and measures the turnover in sales of FMCG and non-food consumer products sold in retail stores nationwide. The NIQ Retail Spend Barometer provides a complete overview of South African spend for the FMCG sector (ambient and fresh food and drink, healthcare, toiletries, homecare and general merchandise) and for the Tech & Durables sector (technical consumer goods, household appliances and DIY). This cross-category and cross-channel overview is based on real sal...

21Nov

By Africa BusinessNo Comments

Business, South Africa News

Pay-as-you-go everything – innovation, the African way

Reach Africa’s Sales Director Leslie Adams discusses the rise of incremental purchasing and how it’s shifting the African economy In a Johannesburg township lives an entrepreneur; one who is going about his business in a uniquely African way. Miles Kubheka’s business ‘Gcwalisa’ is a shipping container-based retail outlet kitted out with bulk dispensers, apportioning essential goods like maize and sugar. The store operates on a weigh-and-pay basis: Kubheka purchases goods in bulk from food manufacturers, taking advantage of the wholesale discounts. He passes these savings on to his customers, who only pay for the amount they choose to purchase. Goods are brought home in reusable containers, further reducing costs. The idea behind Gcwalisa was born from the reality that many township resi...

17Nov

By Africa BusinessNo Comments

Fintech, South Africa News, Tech

SAFPS Warns: Technology is Emerging as a Major Battleground in the Fight Against Fraud

International Fraud Awareness Week is a global annual event dedicated to raising awareness about the widespread issue of fraud and showcasing the efforts across various sectors to combat this growing challenge. This year it takes place from November 17 to 24. "The role technology plays in fraud, and scams is becoming particularly challenging in South Africa," says Nazia Karrim, Head of Product Development at the Southern African Fraud Prevention Service (SAFPS), “with South Africa growing into an increasingly connected society, online fraud is a significant challenge that needs to be addressed." Be Careful of Business Email Compromise (BEC) The increased nature of technology-based fraud is evident in the recent statistics accompanying it. This is a significant challenge for companies th...

10Nov

By Africa BusinessNo Comments

Business, South Africa News

Magpie Instincts: Gathering Market Intelligence for Better B2B Strategies

By Kara Dean, Outbound Marketing and HubSpot Administrator With care, it gathers these shiny treasures and stores them in its nest. Now, think of your business as this magpie, but instead of trinkets, you're collecting valuable market insights. In today’s fast-paced B2B environment, companies that effectively gather and utilise these ‘shiny’ insights secure a clear advantage in decision-making and long-term growth. Uncovering Valuable Insights: What is Market Intelligence? Market intelligence involves gathering, analysing and applying information relevant to a company’s market, including customers, competitors, industry trends and regulations. It plays a crucial role in the B2B world, where decisions are complex and stakes are high. Market intelligence equips companies with a better un...

10Nov

By Africa BusinessNo Comments

South Africa News

State of the Retail Nation Q3: Consumer confidence starts to recover ahead of Black Friday

NIQ South Africa has released its latest State of the Retail Nation analysis for the first nine months of 2024, showing healthy revenue prospects for the FMCG and Tech & Durables retail sectors. The report highlights a positive shift in consumer sentiment throughout the year, setting the stage for healthy sales growth during the Black Friday and festive season periods. NIQ’s data shows that 42% of South African consumers believe they are in a better financial position than they were a year ago. However, higher costs of living, low wage growth and unemployment continue to be a challenge for many. Among the 33% that report they feel worse off, the reasons for this sentiment included increased living costs (80%), the economic slowdown (54%), and concerns regarding job security (39%). Z...

7Nov

By Africa BusinessNo Comments

Business, Events, South Africa News, Tech

Digital Marketing Conference back in Cape Town on 20 & 21 November 2024

Excitement is building as industry leaders, marketing professionals, and digital enthusiasts prepare to gather at the Digital Marketing Conference 2024 (DMC) in Cape Town this November. This not to be missed marketing event is set to take place on 20 & 21 November 2024 at CTICC, Cape Town. The conference will bring together marketing professionals from various industries to explore the latest trends, strategies, and innovations in the ever-evolving landscape of digital marketing. Now is the time to sharpen your company’s digital marketing efforts. Continued marketing is critical to any business and online digital marketing is offering affordable opportunities to get your brand out there and noticed. As more people are spending more time online, savvy marketers are capitalising on th...

30Oct

By Africa BusinessNo Comments

South Africa News, Tech

AfricaCom 2024: French Companies Ready to Transform the African Digital Landscape

From November 12 to 14, 2024, Business France will showcase French expertise at the AfricaCom 2024 exhibition in Cape Town, South Africa. This essential event for telecommunications and digital transformation in Africa will gather over 15,000 visitors and 400 exhibitors from around the world. South Africa: A Strategic Market for Innovation With 4G coverage reaching 98% and rapid 5G deployment, South Africa is establishing itself as the digital hub of the continent. The country attracts significant investments in telecoms, with nearly €1.8 billion invested in 2023, and positions itself as a key player thanks to its 69 data centers and 9 submarine cables. An unprecedented growth in African telecommunications. The France Pavilion: A Gathering of Leading Companies in Digital Innovation Thi...

24Oct

By Africa BusinessNo Comments

South Africa News, Tech

Futuretech: Telkom, NRF launch tech research funding initiative

The programme will benefit historically disadvantaged academic institutions Telkom and the National Research Foundation (NRF) have announced the launch of the Future Technologies (FutureTech) programme, a new initiative to co-fund technology research grants and the studies of postgraduate students and postdoctoral Fellows, to help drive innovation. The FutureTech programme will support local universities in the research and development of future innovations, solutions and technologies. This will improve competitiveness in the Information Communication Technology (ICT) sector and other related fields. Commenting on the partnership, CEO of Openserve, Althon Beukes, said the company was pleased to contribute. ‘’Through the Futuretech programme we are investing in the future of South Afric...

17Oct

By Africa BusinessNo Comments

Fintech, South Africa News

Is cash dead? If your answer is yes you’re missing the point… and millions of customers

By Cat Denoon-Stevens, Head of Product Incubation at Mukuru Is cash truly dead? With the rapid rise of fintech innovations and digital payment solutions, one might think so. Yet, despite the digital revolution sweeping across African societies, cash remains very much alive—and for millions, it is still the preferred way to transact. With the massive influx of fintech companies constantly innovating to bring accessible products and services to the underserved and unbanked in African societies, one might be tempted to declare that cash is dead, or that if it isn’t dead yet, it is on its very last legs. However, fintechs that are well-embedded in Africa and other emerging markets will be well aware that cash is, in fact, alive and well. In many instances, it is the primary form of tender....

15Oct

By Africa BusinessNo Comments

Fintech, South Africa News, Startups

THE RISE OF FINTECH INNOVATION IN SA: GOING BEYOND PAYMENTS TO TRANSFORM ACCESS AND OPPORTUNITIES FOR STARTUPS

By Annelene Dippenaar Two decades ago, a startup or small business had limited options when it came to processing transactions, with cash being the only option for many. Startups by their very nature also lacked credit histories, making it difficult to apply for finance, and leaving them vulnerable to unaffordable loans when seeking financial support to fund their business needs. Today, the picture is very different, with access to digital finance platforms, management tools, and mobile banking transforming how these businesses can operate. According to the Centre for Strategic and International Studies (CSIS), digitalisation has enabled 700 million people in developing countries to gain access to formal financial services between 2011 and 2014, with 62% of adults having a bank or mobile...