South African Business Archives - Page 4 of 7

8Jun

By Baker McKenzieNo Comments

Implementation of cybersecurity and data protection law urgent across Africa

South Africa recently enacted cybersecurity law Darryl Bernstein, Partner and Head of Dispute Resolution, and Janet MacKenzie, Partner and Head of Technology, Media and Telecommunications, Baker McKenzie Johannesburg The pandemic has driven home the high value of personal data to the global economy, while also highlighting its vulnerability to abuse and attack. In response, governments around the world have been reviewing their data privacy and protection laws and regulations, including in South Africa. Global cybersecurity firm Kaspersky recently noted that cyberattacks are set to rise in African countries, especially in the key financial centres of South Africa, Kenya and Nigeria. The cybersecurity firm noted that rapidly evolving digital techniques had led to an increased risk of Advan...

2Jun

By Africa BusinessNo Comments

Events, South Africa News, Startups

Digital Solutions Sought to Accelerate Inclusive Economic Growth for Businesses in the Township Economy

The COVID-19 crisis and accompanying national lockdown had a dramatic effect on all businesses, but those operating in the township economy were hardest hit, with 67% being unable to operate at all under stricter lockdown levels and 75% reporting a reduction in their sales[i]. Now, with the rollout of the vaccine putting South Africa on a post-pandemic trajectory, revival of the township economy and inclusive economic growth for the businesses within it are vital for addressing fallouts from the pandemic such as unemployment, poverty, and food insecurity. Over the weekend of the 19th and 20th of June 2021, Silicon Cape and the United States Embassy in South Africa will be hosting a virtual hackathon aimed at discovering digital solutions to accelerate inclusive economic growth for local bu...

30May

By Africa BusinessNo Comments

Business, Tech, Uganda News

Palletising Robots: Changing How Breweries Stack and Pack

Robotic automation enables remote support possibilities that significantly reduce downtime and address geographical constraints, says Yaskawa Southern Africa Managing Director, Andrew Crackett. Conventional palletisers have been around for over 50 years. While they continue to be operational in many factories around the world, their modern counterparts – robotic palletisers – are solving issues that seemed impossible before. Whether it’s the need to conserve floorspace or to make workplaces safer and better regulated, robotic automation has numerous benefits that other technologies struggle to match in the long run. One of the most appealing factors is that it actually pushes factories towards a more innovative and forward-thinking future. At times, this doesn’t even require everyone to ...

19May

By Africa BusinessNo Comments

Events, South Africa News, Tech

A challenging, risk driven environment awaits us

As many parts of the world deal with the Third Wave of Covid-19 infections, there are growing concerns that South Africa may face harsher lockdown measures in the future as the country ramps up its vaccine roll out program. This will have a telling impact on society and will only accelerate the reliance on ecommerce business models as the public prioritizes their health and safety. Unfortunately, this also means that there will be a challenging, risk driven environment ahead of us when it comes to fraud. This was highlighted at the Southern African Fraud Prevention Service (SAFPS) & Insurance Crime Bureau International Fraud Summit which was held virtually on 19 May 2021. Increased Risk “We are really reaching a critical point when it comes to the economy and the extreme measures that...

10May

By Africa BusinessNo Comments

South Africa News, Startups

Hack the Normal | From Africa for Africa: Meet the Winning Innovations for Sustainable Living, Healthy Living and Financial Solutions in Africa

Through the Hack the Normal initiative, Defy, Africa's stalwart home appliance company, aims to contribute to the advancement of African-led projects that seek to secure the sustainability of trade, natural resources, and life on the continent. Defy, a leading manufacturer of home appliances, recently hosted the Hack the Normal online hackathon in partnership with ATÖLYE to inspire and facilitate the development of new ideas and projects that aim to make people's lives easier. Supported by Defy’s sister company, Beko, hackathon participants had the opportunity to develop new products, services, and business models with potential for commercialisation and to address existing challenges in Sustainable Living, Healthy Living and Financial Solutions. The hackathon focused on the individual, s...

5May

By Africa BusinessNo Comments

Business, Events, South Africa News

Post-Covid recovery depends on a positive SME mindset

#StandardBankSMESummit With more than 90% of South African SME’s having experienced revenue drops since April 2020 and with many businesses being left vulnerable, the need to support and boost South Africa’s SME sector which currently provides formal jobs for 28% of the population must be prioritised. This support is not just financial, but psychological as well. “Where people need to innovate and create their own jobs to sustain themselves and provide occupation and income for others, we need to provide the psychological tools to support those with ambition. We cannot allow innovators and entrepreneurs to give up on their dreams and visions at this critical time,” says Deenash Pillay, Head of Enterprise Banking Propositions at Standard Bank, ahead of the Standard Bank SME Summit which...

4May

By Africa BusinessNo Comments

South Africa News

SA can prevent payments fraud crippling businesses and local municipalities

Ryan Mer, Managing Director, eftsure Africa, a Know Your Payee™ (KYP) platform provider says technology can be a powerful tool against the fraud and corruption plunging South Africa’s municipalities and businesses into financial crisis. According to a recent report in News 24, a former OR Tambo District Municipality project accountant who defrauded the municipality out of R9.8 million was recently sentenced to 15 years in jail. She was the authorised officer responsible for processing claims from service providers and effecting payments to their bank accounts. Money was transferred to companies belonging to her former boyfriend and sister even though no services were rendered by said businesses. Another News 24 report details how nine people who allegedly defrauded the City of Tshwane out ...

16Apr

By Africa BusinessNo Comments

South Africa News

SA shoppers are online. Retailers need to meet them with an exceptional experience

Consumers are embracing the e-commerce experience in growing numbers and corporate South Africa is taking serious notice, according to Geoff Hardy, Head of Digital, Immersion Group, a global team of experience design experts. Across the globe online sales have surged, while locally online transactions on Black Friday alone grew by more than 60%, and a recent study released by Mastercard found that 68% of South Africans are shopping more online since the beginning of last year. “The Covid-19 pandemic undoubtedly accelerated prevailing trends as well as consumer behaviour and preferences by as much as a decade. This extraordinary industry-wide transformation is a forecast of the future of South African retail,” notes Hardy. He says a solid digital footprint and strategy have become non-negot...

16Apr

By Baker McKenzieNo Comments

Botswana News, Egypt News, Main, Mauritius News, Morocco News, South Africa News

Competition law in post-pandemic Africa a key driver for market participation, consumer protection and fair practices

With the growth of economies across Africa, competition law has remained one of the key drivers for effective market participation, consumer protection and fair business practices. However, the global pandemic introduced new challenges for competition authorities in Africa and abroad, with each enforcer pursuing the most beneficial enforcement method for its national or regional jurisdiction. According to Lerisha Naidu, Partner in Baker McKenzie’s Competition & Antitrust Practice in Johannesburg, “These efforts were aimed at curbing the persistence of unjustified price hikes, anticompetitive cooperation between competitors and other harmful business practices that sought to undermine competition. In addition to the urgent responses to the unprecedented impacts of the global COVID-19 c...

14Apr

By Africa BusinessNo Comments

South Africa News

How positive debt can help SA’s SMEs grow

Regardless of the size of your company or how great your product maybe, at some point, every business will need more finance than they have immediately available. When this happens, accessing additional funding will help to give your company the fuel it needs to grow. It may seem counterintuitive, but Trevor Gosling, Co-founder, and CEO of Lulalend – financing partner to South Africa’s small- to medium enterprises (SMEs) - explains that fast access to capital plays an important part in any business growth strategy. Gosling says that there is often a misconception that all debt is bad or that it is only used by struggling companies. “In fact, the opposite is often the reason why some of the world’s largest companies, including the likes of Apple and Coca-Cola, routinely seek capital infusi...