South African Business Archives - Page 5 of 7

12Apr

By Africa BusinessNo Comments

South Africa News

AI, automation the only option for SA

South Africa’s only option for addressing poverty and poor economic growth is to embrace 4IR technologies such as automation and Artificial Intelligence, to make the country more competitive. This is according to Prof. Tshilidzi Marwala, Vice-Chancellor and Principal at the University of Johannesburg and author of Closing the Gap: The Fourth Industrial Revolution in Africa, who addressed the Institute of Information Technology Professionals South Africa (IITPSA) Tabling Tech webinar hosted by Johan Steyn - IITPSA Chair: Special Interest Group – AI & Robotics; and Tony Parry - IITPSA CEO this week. In a highly engaging webinar, Prof. Marwala noted that despite concerns about people being displaced by automation, 4IR progress had to be made. “The future will be bleak indeed if South Afri...

12Apr

By MadelienNo Comments

Forex

5 Best FSCA Forex Brokers in South Africa

Overview The Financial Sector Conduct Authority (FSCA) is the regulatory body in South Africa that oversees a variety of financial activities, including the provision of online trading solutions and services. It is a reputable and strict entity. Amidst the list of brokers that have applied for regulation through the FSCA, the following five have been granted permission to operate within the country and other African countries that do not have their own regulatory bodies and thus use the FSCA. ThinkMarkets Established in 2010, ThinkMarkets is a reputable STP broker that offers trade in a variety of financial instruments to a multitude of traders across the globe. ThinkMarkets incorporates the best range of online technologies with their suite of advanced trading platforms and tools, offeri...

7Apr

By Prenisha GovenderNo Comments

Fintech, South Africa News

South Africa: The South African revenue service joins the global rise of crypto-wars

By Prenisha Govender, Associate and Keketso Kgomosotho, Candidate Attorney, Tax Practice, Baker McKenzie Johannesburg. The growing popularity of cryptocurrencies worldwide, which is increasingly leading to its stronger footing in international business, has awakened tax authorities everywhere to a possible new revenue stream from unreported gains. Over recent years, we've seen a marked increase in crackdowns on cryptocurrency traders - all the way from the Internal Revenue Service (IRS) in the United States (US) to Her Majesty's Revenue & Customs (HMRC) in the United Kingdom (UK), and now the South African Revenue Service (SARS). It was only a matter of time until SARS joined the party, given that in terms of both market value and volume, South Africa is reported to be one of the top t...

7Apr

By Africa BusinessNo Comments

Business, South Africa News

How cost cutting can help SMEs grow

Reducing the cost of supplies, inventory or business operations is common practice amongst many small business owners. Not preserving enough cash could land a business in deep waters and in need of a lifeline. For business owners, curbing your expenditure is a practical way to improve your cash flow without incurring risk to your business. According to Trevor Gosling, Co-founder and CEO of Lulalend – financing partner to South Africa’s small- to medium-enterprises (SMEs), spending countless hours worrying about your business finances is time wasted and could be best spent strategizing realistic solutions. Gosling explains that by creating a well-documented plan to engage in a cost-reduction strategy is essential. “Map out any areas in your business that could do with an overhaul or cost re...

7Apr

By Africa BusinessNo Comments

Events, South Africa News

Accelerating South Africa! Ayo Technology Solutions Partners With The Sa Innovation Summit To Scale Africa

A great leader once said, ‘What is important is that we make sure to work together, that we understand our strength comes from unity and not division.’ Now more than ever, we all understand the need to foster the spirit of collaboration in the way we do business. With that in mind, AYO Technology Solutions (AYO), in partnership with the SA Innovation Summit is proud to announce the first ever, AYO Scaling Africa Series. This is a brand-new Africa-base initiative, aimed at empowering technopreneurs. This series will identify and support digital and tech businesses from South Africa, disrupting the ecosystem with novel ways to solve business and everyday needs for communities across, not only South Africa but, Africa as a whole. The AYO Scaling Africa Series will provide Series A funding...

6Apr

By Africa BusinessNo Comments

Business, Medicine, South Africa News

Clean Air Crucial for Curbing COVID-19 Spread and Upping Productivity in Workplaces. Four Ways Clean Air is Better for Business

South Africa is bracing itself for a third COVID-19 wave. According to scientists, this is due to the slow start to the vaccination programme and relaxed level 1 restrictions. Finance Minister Tito Mboweni has stated that: “If that third wave comes, it should be managed (in such a way) that we keep the economy going and protect lives.” “To this end, employers need to ensure that they fulfil their moral and legal obligation of providing a safe and healthy workplace for their staff,” says Koen Van Wynendaele, Daikin South Africa Managing Director. He continues: “There is growing evidence that COVID-19 infection can occur from airborne exposure to the virus, particularly in enclosed spaces with poor ventilation[i]. With this in mind, employers need to consider the air quality of their workpla...

6Apr

By Africa BusinessNo Comments

South Africa News

Setting South Africa’s small and medium-sized enterprises Up for Success

South Africa’s small and medium-sized enterprises (SMEs) represent more than 98% of registered businesses, employ between 50% and 60% of the country’s workforce, and are responsible for a quarter of job growth in the private sector[i]. “It’s no wonder then that these companies are the country’s hope for economic recovery. But what is being done to ensure their success?” asks Andrew Hardie, Chief Executive Officer at Pay@ - a leading payment aggregator and provider of secure payment solutions. South African SMEs have the highest failure rate in the world[ii]. In fact, 70% to 80% of small businesses fail within five years[iii]. Studies conducted by the Universities of the Free State[iv], Limpopo[v] and Cape Town[vi] have found that a lack of business capabilities (including skills and tools)...

15Mar

By Africa BusinessNo Comments

Kenya News, South Africa News

South African business, AURA, expands into East Africa with new Kenyan office and GM

AURA, South Africa’s leading security and medical response platform, has announced its imminent expansion into Kenya which will be led by its new General Manager, Hilary Itela. Partnering with KK Security, owned by GardaWorld, Aura will offer its emergency and medical response services in Nairobi and Mombasa. Warren Myers, CEO, AURA says that the intention is to address the fragmented and idle response capacity in Kenya while also democratising access to critical services by making them more widely available and more affordable than ever before. With over 15 years’ experience in various management roles in East and Central Africa, Itela brings with him a wealth of specialist expertise within various verticals including security, e-commerce, logistics, pharmaceuticals, FMCG and renewable...

Why ecommerce matters for small businesses in SA

14Mar

By Africa BusinessNo Comments

South Africa News

Why ecommerce matters for small businesses in SA

There has been a permanent change in the way that people shop and, in turn, the way that businesses need to operate. In the absence of brick-and-mortar stores being open during the lockdown, as well as a general fear of crowded malls when things were able to re-open, South Africa’s ecommerce sector exploded. According to Trevor Gosling, Co-founder and CEO of Lulalend – financing partner to South Africa’s small- to medium-enterprises (SMEs), he has seen a phenomenal growth in ecommerce businesses who have connected with them for SME financing. Between the period of October 2020 and February 2021, Lulalend saw an 86% increase in loans made to ecommerce businesses and online retailers in comparison to the same period between 2019 and 2020. “The loans were strongly linked to growth-related req...

Efficient Payment Solutions Essential for SME Survival

14Mar

By Africa BusinessNo Comments

Fintech, South Africa News

Efficient Payment Solutions Essential for SME Survival

Small and Medium-sized Enterprises (SMEs) have long been hailed as the lifeblood of the economy. Now, in the wake of the COVID-19 crisis, they are critical for its recovery. Not only do they contribute 35-50% of national GDP globally, they also drive over two-thirds of new job creation[i]. Ultimately, the more SMEs succeed, the better our economy performs. However, their success – and survival – hinges largely on cash flow management. This is according to Francois Hamer, Business Development Lead at Pay@ - a leading payment aggregator and provider of secure payment solutions. With cashflow management being the reason why 82% of small businesses fail[ii], Pay@ has developed Yap – an electronic bill presentment and payment tool for on-the-go invoicing and payment requests, specifically for ...