South Africa News Archives - Page 11 of 72

21Nov

By Africa BusinessNo Comments

South Africa News

Top scams to watch out for as you enjoy this year’s Black Friday sales

Despite the continued reports about the tough economic environment facing South African consumers and the fact that disposable income is steadily decreasing, South Africans are still enjoying Black Friday sales. Statistics released by First National Bank show that over R2.4 billion was spent in-store during 2022 Black Friday sales, while R670 million was spent on online sales. FNB reports that the value of online purchases (where a card was not present) increased by 31% compared to 2021 black Friday sales, while in-store spending increased by 18%. While consumers are trying to find the best way to stretch their Black Friday budget, the Southern African Fraud Prevention Service (SAFPS) warns that scammers are very active during this period. "The increases presented by FNB show active part...

Understanding generative AI and its impact on payment fraud in South Africa

21Nov

By Africa BusinessNo Comments

Fintech, South Africa News

Understanding generative AI and its impact on payment fraud in South Africa

The accessibility of generative AI tools has lowered the barriers for would-be criminals, while the transition to hybrid work models and geographically dispersed teams has expanded the attack surfaces they can exploit. In this context, the overlap of AI technology and the interests of financial leaders becomes increasingly significant, says Ryan Mer, CEO of eftsure Africa, a Know Your Payee (KYP) platform provider. Numerous financially motivated cybercrimes hinge on the manipulation of accounts payable (AP) staff and the evasion of traditional financial safeguards. As generative AI technologies advance, the art of deception within these crimes is poised to become more sophisticated than ever before. Businesses could soon face a host of new challenges as generative AI models can be used to ...

8Nov

By Africa BusinessNo Comments

South Africa News

South Africans play a greater role in becoming scam victims than they care to admit

The South African fraud landscape is becoming increasingly risky as fraudsters and scammers look to target individuals with highly sophisticated scams in an environment where it is becoming increasingly difficult for lawmakers and authorities to bring these criminals to justice. "International Fraud Awareness Week is held from 12 - 18 November, and it is important to remain actively aware about the risks fraud poses to us locally as well as globally. In particular, South Africans need to be aware how they are impacted by fraud and the urgency of implementing proactive prevention measures in their daily lives," says Nazia Karrim, Head of Product Development at the Southern African Fraud Prevention Service (SAFPS). As the custodians of fraud in Southern Africa, and to mark International Fr...

2Nov

By Africa BusinessNo Comments

Business, South Africa News

Putting people first: The power of being a purpose-led organisation

By Savina Harrilall, Chief People Officer at Mukuru At a time when so many companies simply view success through a financial lens, it has become imperative to take on a more people-centred, purpose-led approach to business. By emphasising the importance of people to operations, leaders look beyond profits. They must focus on creating value for their employees, their customers, and also the communities in which they operate. At Mukuru, we have taken this to heart and renewed our focus on our people. Skills development is a significant pillar of this people strategy. It is not about hoarding 'top talent'; instead, the company views all employees as gifted individuals. Organisations can liken this to seeing their employees as different kinds of lightbulbs. Some are traditional bulbs, while ...

30Oct

By Africa BusinessNo Comments

South Africa News

The power of the scaffolding software development approach in retail

Niel Coetzee, Head of Engineering at redPanda Software In recent years, many South African retailers have come to rely on no-code and low-code solutions which ostensibly simplifies the software development process. While the appeal is undeniable, these methods often trap businesses in a web of unoptimised code, vendor lock-in, and restricted adaptability. Traditional low-code and no-code solutions may seem attractive at first glance. They promise speed, ease of use, and require less technical expertise. However, lurking beneath the surface are issues that can turn them into ticking time bombs. The code is often suboptimal, resulting in clunky and slow software. While employees might be adept at dragging and dropping low-code and no-code solutions in such environments, they can be left st...

25Oct

By Africa BusinessNo Comments

South Africa News, Tech

Hacking and your business: not if, but when

South Africa is experiencing a massive surge in internet crime. A shocking 78% of South African organisations were struck by a ransomware attack last year, up from 51% the previous year. And, according to INTERPOL’s 2022 Africa Cyberthreat Assessment report, South Africa leads the continent in the number of cybersecurity threats identified with 230 million threat detections in 2022 (in second place was Morocco at a mere 71 million). Othelo Vieira, Technical Product Manager Lead at Tarsus On Demand, says that, unfortunately, no one is safe. “All businesses, no matter their size, need to learn to operate from the point of ‘when I get hacked’, not ‘if I get hacked’, and set up their security and back-ups to mitigate that risk and possible resultant damage.” He says there are several reason...

24Oct

By Africa BusinessNo Comments

South Africa News, Startups

Potential Market Impact Evident in Success of Tech Startups

Celebrating the Winners and Encouraging Growth: Insights from the Technology Innovation Agency's Pitching Competition at the SA Innovation Summit The Technology Innovation Agency (TIA) hosted an exciting pitching competition during the SA Innovation Summit from September 26th to 28th. The winners were commended for their impressive accomplishments, but TIA Acting Executive for Innovation Enabling, Vusi Skosana, reminded everyone that even those who didn't win have still achieved something invaluable. He emphasized that failure is not the end, but another chance to learn and grow. Skosana encouraged all participants to treasure their experiences, as they will undoubtedly contribute to future success. Skosana's inspiring message was inspired by the City of Cape Town's call to action,...

24Oct

By Africa BusinessNo Comments

South Africa News

By partnering with data specialists Insight Consulting to unleash the power of Qlik, Galito’s flame-grilled its legacy reporting and turned its data into a strategic business asset

Successful South African flame-grilled chicken brand Galito's, a business with more than 240 stores in 17 countries, set out on a journey with strategic data specialist consulting firm Insight Consulting to optimise its data value chain. The result is that only four months in, Galito's has saved time and money, and makes accurate decisions and forecasts using reliable and real-time business data. Qlik is an intuitive end-to-end business intelligence solution. Unlike traditional business intelligence which tends to be passive, Qlik’s visualisation and reporting drives a real-time approach of continuous intelligence. It bridges the gap between data and realising value from the data. As a specialist data partner that works with businesses to optimise their data value chain, Insight Consultin...

23Oct

By Africa BusinessNo Comments

Real Estate, South Africa News

When is it too soon to sell a residential property you bought?

By: Brendan Michie, Director at Hammond Pole Attorneys Whether or not South Africa will experience a buyer’s or seller's market for property in 2024 is challenging to predict, but several factors point towards a potential buyer’s market for some time to come. The economy is expected to remain weak, which will reduce the number of prospective homebuyers due to affordability constraints. High interest rates will lead to higher borrowing costs, indicating a market where buyers may have more bargaining power to potentially lower prices. On the other hand, a shortage of affordable housing in certain areas could push property prices higher, potentially supporting a seller’s market. Either way, it is important for potential sellers to monitor evolving market conditions and educate themselves a...

19Oct

By Africa BusinessNo Comments

Energy, South Africa News

Crisis to Empowerment: Navigating Climate Challenges with Sustainable Energy Solutions

The world is witnessing unprecedented changes in its climate, with extreme weather events becoming more frequent and intense. Recently, there was unprecedented flooding in New York city, with floodwaters rising to a staggering 1 metre above street level. This calamity closely followed the devastating storms and floods in the Western Cape on the weekend of 23rd Sept, which BBC recently reported claimed 11 lives and destroyed multiple bridges and roads. In April last year, flooding in Durban was termed “the most catastrophic natural disaster yet recorded in KwaZulu-Natal”. Such events are not isolated incidents but indicators of a larger, more pressing issue – the climate crisis. Add to this the wildfires that have been ravaging the planet, more recently in Canada and previously in Australia...