South Africa News Archives - Page 44 of 72

19Jul

By Baker McKenzieNo Comments

Business, Kenya News, Nigeria News, South Africa News

Deal value increases in South Africa and Nigeria in the first half of this year

Baker McKenzie’s latest analysis of Refinitiv data shows that the value of mergers and acquisitions (M&A) in the first half 2021 (H1 2021) soared in South Africa, and that deal value also increased in Nigeria in the first six months of 2021, but Kenya experienced a slight decrease in both deal value and volume in H1 2021. South Africa The value of M&A transactions in South Africa in H1 2021 amounted to USD 52 billion, with 169 deals announced in the period. Compared to the first half of 2020, transactions volumes decreased by 8% but deal value increased by 958% in the first half of 2021. Refinitiv data shows that the volume of domestic transactions increased slightly to 80 deals, a 10% increase year on year (Y-o-Y). Domestic transactions in South Africa in H1 21 were worth USD 46....

19Jul

By Africa BusinessNo Comments

Business, South Africa News

Good customer retention tactics translate to brand loyalty and profitability for SMEs

There is a good reason why the saying goes “first impressions last” and this is particularly important for small businesses. Once they’ve connected with a new customer, businesses should focus on offering high-quality delivery over the long-term. It begins with a client's first interaction with businesses or brands and continues throughout the lifetime of the relationship. According to Tom Stuart, Chief Marketing Officer of SME lender, Lulalend, there are five practical ways in which businesses can improve customer retention. Managing expectations, ensuring top-of-mind awareness, good communication, implementing support measures, and putting in place a rewards program. Stuart explains that top-of-mind awareness is a key metric in the development of sound retention strategies and will ultim...

16Jul

By Africa BusinessNo Comments

South Africa News, Tech

SA leans toward dystopian tech future unless moves are made soon

South Africa could face a dystopian technological future, unless moves are made to harness technology for societal good now. This is according to Johan Steyn, chair of the Institute of Information Technology Professionals South Africa (IITPSA) Special Interest Group on AI and Robotics (SIGAIR), who was speaking at the IITPSA Gauteng Chapter AGM this week. Steyn said the world was at a crossroads, where either a utopian technological future or a dystopian one was possible. “In a potential utopian future, smart technology can bring us an ideal society with higher living standards for everyone on earth. We could be post scarcity, and benefit from the avoidance of suffering and even the prevention of death. Technology could reflect and encourage the best we have to offer as human beings,” he s...

15Jul

By Africa BusinessNo Comments

Fintech, South Africa News

Avoiding Instant Electronic Funds Transfer payments Risks

In 2020, e-commerce in South Africa spiked by 66%, driven by COVID-19-induced lockdowns and a drop in brick-and-mortar retail sales[i]. This increase was accompanied by an upsurge in the use of instant Electronic Funds Transfer (EFT) payments. Towards the end of last year however, the SA Reserve Bank, Payment Association of South Africa (PASA), and Financial Sector Conduct Authority (FSCA) issued a joint statement warning consumers to be aware of the risks associated with this payment method, particularly the use of screen scraping, "which makes it possible for third parties to access bank account data and automate actions on behalf of a consumer using that consumer’s online banking access credentials". The statement went on to detail some of these risks such as the potential for fraud and...

15Jul

By Africa BusinessNo Comments

Fintech, South Africa News

South Africa. Banking customers are urged to remain extra vigilant during these trying times

South Africa is in the middle of one of the most tyring times in the country’s history. Unemployment was on the rise which will only worsen in the aftermath of the current situation. In addition, tensions are boiling over turning into violent acts and destruction which are currently disrupting society. This includes bank ATM’s and branches. “During these trying times, we are urging all banking clients to keep calm and to be aware that the violence will be causing some disruption to normal branch services. In addition to all the other challenges facing consumers, fraudsters will be more motivated than ever to take advantage of the current crises that is gripping the country. We need to be extra vigilant during these times,” urges Reana Steyn, the Ombudsman for Banking Services (OBS). Online...

10Jul

By Africa BusinessNo Comments

Medicine, South Africa News

New study on the causes of Cerebral Palsy may have far-reaching impact on medico-legal outcomes

A new paper on Cerebral Palsy, published in the South African Medical Journal, challenges commonly held views on the subject and suggests that the causes of this tragic condition may be far more complex and multi-faceted. Commonly held assumptions that CP arises as a direct result of preventable adverse events during childbirth inform the current paradigm within South African medico-legal cases, in which the focus is almost exclusively on events during childbirth (intrapartum events). Among the paper’s findings are that intrapartum trauma may constitute the final link in a complex chain of pathophysiological processes that lead to brain injury and ultimately CP. In many cases this causal pathway could depend on (among other things) genetic factors, as well as adverse circumstances and even...

9Jul

By Africa BusinessNo Comments

South Africa News, Startups

Omnisient raises US$ 1.4m for global expansion

Secure data collaboration platform achieves second round of funding Omnisient, a secure data collaboration platform, has achieved its second raise this year totalling USD1.4 million. ”We have brought in visionary international investors – Technova, Grand Bay Ventures, Tahseen Consulting, and Kepple Africa Ventures – who will be key to supporting our expansion globally. Investec, Nedbank, and Compass – Omnisient’s three original investors – led the round, reflecting their confidence in our ability to innovate and grow. The data economy is at the heart of the digital transformation that many of our customers embraced a couple of years back and this has been accelerated by the global pandemic. We see a huge and largely unaddressed market opportunity.” said Jon Jacobson, Chief Executive Off...

9Jul

By Africa BusinessNo Comments

South Africa News, Startups

Seven South African legal startups to pitch for EUR 10,000 grant

Virtual pitching event to occur on 13 July, register to attend The Hague Institute for Innovation of Law (HiiL) kicked off its annual global Innovating Justice Challenge in search of the region’s best justice-related social entrepreneurs in March this year. With more than 200 applications from startups with high impact justice innovations, HiiL has selected the top seven in Southern Africa to pitch to an esteemed panel and are inviting interested community members to join the presentation. Adam Oxford, Head of the HiiL Innovation Hub Southern Africa, says that an estimated 70 percent of justice problems remain unresolved due to lack of access, trust, and high costs. These issues often result in poor outcomes for health, equality, and economic stability. “By addressing justice over the past...

7Jul

By Africa BusinessNo Comments

Africa Travel, South Africa News, travel

SITA Launches A Revitalized Portfolio To Meet The Industry’s Changing Demands

Five priority areas have been identified as critical to rebuilding air travel post-COVID Your Runway to Success, published by SITA, sets out five critical areas for the air transport industry’s rebuild in the next 18 months and highlights SITA’s remodeled solutions to tackle the major challenges facing air travel in the wake of the COVID-19 pandemic. Over the past 12 months, COVID-19 has dramatically impacted the aviation industry financially and operationally. IATA estimates a net loss for the airline industry of $47.7 billion in 2021. IATA research also reveals that average passenger processing and waiting times have doubled from what they were pre-crisis during peak time – reaching three hours despite travel volumes hovering at around 30% of pre-COVID-19 levels. With revenues dropping,...

7Jul

By Africa BusinessNo Comments

South Africa News

Chatbots: The solution to SA’s service delivery woes?

Finance Minister Tito Mboweni recently said that communities and businesses are becoming increasingly intolerant of municipalities that can neither deliver basic services nor conduct their administration effectively[i]. With lack of employee capacity being one of the root causes of poor service delivery[ii], Kyle Oosthuizen, Chief Operating Officer at Blue Robot, believes that chatbots could be a solution. He says: “Chatbots offer municipalities a way to service more people faster, more efficiently and more cost-effectively. Anyone who has ever had to apply for anything from a municipal or government department such as a driver’s licence, grant or permit, would know how tedious it is to have to manually fill out forms, especially with some applications requiring duplicates. Chatbots could...