South Africa News Archives - Page 16 of 72

Building a recession-ready business: the 3 Cs to weather any economic storm

15May

By Africa BusinessNo Comments

South Africa News

Building a recession-ready business: the 3 Cs to weather any economic storm

The South African economy recorded zero growth for the first quarter of 2023, following a fourth quarter of negative growth in 2022. The country is pointing towards a technical recession (defined as two consecutive negative quarters of growth)[1], despite Finance Minister Mr Enoch Gondwana ruling out the possibility just a few weeks ago[2]. The FNB/BER consumer confidence index (CCI) also fell to -23 points in Q1 2023 (down from -8 in Q4 2022), indicating increasing financial strain among consumers.[3] Yet as the economic climate sees consumers becoming more price conscious and thrifty, businesses in South Africa are facing unprecedented operational costs, resulting in price hikes to consumers. According to Chief Operating Officer, Craig Pitchers, at leading national courier service The...

SAFPS to launch a ground-breaking platform to combat fraud

10May

By Africa BusinessNo Comments

South Africa News, Tech

SAFPS to launch a ground-breaking platform to combat fraud

Traditionally, South Africa has been a popular country among fraudsters looking for every opportunity to try and find their next victim. Statistics from the Southern African Fraud Prevention Service (SAFPS) point out that there was a 600% increase in incidents reported by their members in 2022 when compared to 2018. "The Southern African Fraud Prevention Service (SAFPS), in its role as the South African custodian of fraud prevention, has decided to take decisive action to tackle the problem that scams are posing to our economy. Over the years, the SAFPS has rolled out several important communication campaigns that aimed to educate South Africans about the various frauds and scams they can become victims of. However, the challenge is that reporting a scam – while important – is a reactive ...

Innovation and investment: Key to the growth of the African transport and logistics sectors

6May

By Africa BusinessNo Comments

South Africa News

Innovation and investment: Key to the growth of the African transport and logistics sectors

Transport Evolution Africa Forum & Expo to address key challenges, opportunities and solutions for the improvement of ports, rails and roads in Africa The transport industry in Africa has evolved in recent years due to advancements in technology, changes in trade patterns, and through the emergence of new players in the market. Whilst the industry still faces challenges – infrastructure deficiences, insufficient investment, and inadequate regulatory frameworks – transport remains a critical driver of economic growth in Africa, contributing 6.5% to South Africa’s GDP alone in 2022.[1] Addressing the challenges, opportunities and innovative solutions for the transport sector across Africa is this year’s Transport Evolution Africa Forum & Expo, taking place from 20-22 September 202...

twenty2degrees Announces New Studio in Johannesburg

26Apr

By Africa BusinessNo Comments

Africa Travel, South Africa News

twenty2degrees Announces New Studio in Johannesburg

twenty2degrees Design Partnership, the international hospitality interior design practice founded in London a decade ago, has announced the opening of a new studio in Johannesburg. This follows on from the firm’s expanding portfolio of projects in sub-saharan Africa which currently includes a new Hyatt Regency and a Hyatt House Hyatt Place, both in Nairobi, along with a new luxury hotel complex in Cameroon. Nick Stoupas, Founder & Managing Director of twenty2degrees, says: “We see this investment as demonstrating our commitment to the African continent. For now, we will be continuing to lead our work in Africa from our London studio but our team on the ground in Jo’burg will be well placed to handle ongoing project development, monitor progress on site and open-up local sources of ...

Bridging the financial inclusion gap in South Africa requires simplicity and affordability

26Apr

By Africa BusinessNo Comments

Fintech, South Africa News

Bridging the financial inclusion gap in South Africa requires simplicity and affordability

Financial inclusion remains a major challenge in South Africa, where millions of people remain outside the formal banking system and where higher-income groups have more access to a broader range of financial services. Despite recent steps being taken in the right direction, Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says innovative solutions aimed at meaningfully addressing financial inclusion must also be simple, easy to use, and most importantly, affordable and interoperable. As the country moves towards digital payment systems, the key to financial inclusion lies in modernising the market and reducing barriers to entry. The adoption of digital payment systems is one way to increase financial inclusion in South Africa, and although there have been severa...

25Apr

By Africa BusinessNo Comments

Energy, South Africa News

Gaia launches first specialist REIT investing in on-site solar power solutions for businesses

Gaia Fund Managers announces the launch of South Africa’s first specialist real estate investment trust (REIT) investing in on-site private electricity generation for commercial and industrial clients. In a first round of fundraising, Gaia Renewables REIT – as the fund is called – aims to attract R500 million from institutional investors, high-net-worth individuals, and family offices. The fund will allow investors to benefit directly from solving South Africa’s 10,000 MW electricity deficit. Setting up Gaia Renewables REIT follows the liberalisation of South Africa’s electricity generation sector; the government has removed the historical 1 MW cap on power generation by private companies and individuals. The government’s response came amid rolling power blackouts, which have plunged hou...

24Apr

By Africa BusinessNo Comments

South Africa News

Convergence of cyber and physical security presents new challenges: New approaches needed to tackle cyber and physical security holistically

By Richard Frost, Head of Product: Cybersecurity at Armata With South Africa being the sixth most targeted country worldwide regarding cyber attacks, it’s no surprise that organisations have to put numerous steps in place to protect their networks and data. This is all the more crucial in a world where we have legislation such as GDPR and PoPI that dictate how people’s data can be stored, used and transmitted, with harsh financial penalties for those found in contravention. More companies are investing in network and data security solutions and being proactive in preventing breaches by carrying out active threat hunting, while there’s also a growing effort to separate Information Technology from Operational Technology as an additional security measure. With more investment into network ...

Skills-based hiring brings South Africa in line with international hiring trends

18Apr

By Africa BusinessNo Comments

South Africa News

Skills-based hiring brings South Africa in line with international hiring trends

By Jessica Hawkey, MD at redAcademy As technology continues to evolve at an unprecedented pace and become infused across all aspects of the business, companies are increasingly under pressure to remain competitive by attracting the best tech talent available. However, with a shortage of IT skills and limited access to higher education, it is clear that alternative approaches to recruitment and talent development are required, and this includes a greater focus on skills-based hiring. Promotions within an organisation are usually a result of skills and experience rather than academic qualifications, so why not use these as the criteria right from the start? Globally, large multinationals such as Accenture, General Motors, IBM and LinkedIn among others are placing importance on skills when...

18Apr

By Africa BusinessNo Comments

Agriculture, South Africa News

How Two Women Are Bridging the Gap in South Africa’s Food System with Hydroponic Tunnels

Nestled along the rolling hills of Albert Falls in KwaZulu-Natal lies a powerhouse of innovation and hope. Led by two dedicated agricultural warriors, Nkanyiso Ngubane and Ntokozo Biyela, the rise of Dukathole Farm is something to behold. It’s an impactful and life-changing project that is bringing hope and nourishment to neighbouring communities. Using cutting-edge hydroponic tunnels, the pair are revolutionizing South Africa's agriculture sector, one cherry tomato at a time. Covering an impressive 50-hectares, this farm is not just redefining what is possible in the farming industry – it is reshaping opportunities, especially for disadvantaged women and youth. Albert Falls is a poor community, surrounded by rising unemployment. With every vegetable being grown, Ngubane and Biyela are so...

The Application of Quantified Creativity in Influencer Marketing

12Apr

By Africa BusinessNo Comments

Business, South Africa News

The Application of Quantified Creativity in Influencer Marketing

By: Casey Mantle, from 8909 Digital Influencer marketing has become an essential aspect of any brand's marketing strategy. With more and more consumers relying on social media to make purchasing decisions, partnering with influencers can help brands reach their target audience effectively. However, it's not enough to simply find an influencer with a large following and hope for the best. To ensure the success of your influencer marketing campaign, you need to use data effectively. Data is an incredibly powerful tool in influencer marketing, helping brands to make informed decisions about which influencers to partner with, what content to create, and how to measure the success of their campaign. By leveraging data, brands can better understand their audience, identify the most effective i...