Tag: digital infrastructure

South Africa takes on the presidency of the Group of 20 (G20) in 2025 with six headline priorities. These include debt sustainability for low-income countries, mobilising finance for a just energy transition, food security, disaster resilience and digital infrastructure. Among these, payment reform is the one that businesses in the country will feel most directly.

In South Africa, we sit with a paradox that should concern every business leader. On one hand, unemployment remains stubbornly high, particularly among young people. On the other hand, organisations are grappling with a deepening skills crisis.

The public sector in West Africa, much like in other regions, faces deep-rooted challenges. It struggles with rigid bureaucracies and outdated systems. The very institutions meant to serve citizens often become trapped in structures that block innovation and delay progress.

In an era where borders are no longer physical, South Africa is drawn into a new kind of conflict. This conflict is not fought with tanks and missiles. Instead, it is waged with lines of code and silent intrusions. From local municipalities to national ministries, government systems face relentless attack. The digital battlefield is here. Cyberspace has become the next frontier of conflict.

Conversations about the war for talent in financial services have persisted for many years. Competition to attract skilled individuals has always been intense, with high demand for talented professionals. This competition has intensified recently as hiring activity accelerates to meet today's significant challenges.

As artificial intelligence (AI) continues to supercharge every aspect of business and society, South Africa stands at a critical juncture. Rather than fearing job displacement, we can harness AI to drive widespread growth and prosperity. By fostering local innovation, investing in AI education, and creating a conducive regulatory environment, we can empower citizens and businesses alike.

In the heart of South Africa's vibrant township economy, valued at an estimated R750 billion, a transformative shift is taking place. Small to medium-sized businesses are flourishing as the adoption of cashless transactions grows. Despite the widespread availability of banking services, with eight out of ten South African adults having a bank account, cash remains the dominant form of payment.

At the end of March, a critical security breach was discovered within the upstream source code of XZ Utils, a collection of open-source tools and libraries for the XZ compression format. The breach affected versions 5.6.0 and 5.6.1 and spanned nearly three years. The potential disastrous implications of this breach, and any other, underscore the importance of continued vigilance in patching all software used in a business environment.

There has been a remarkable shift to digital payments in South Africa and the rest of Africa in recent years. To put this into perspective, McKinsey anticipated that electronic payments would accelerate by an estimated 150% to reach $40 billion in revenues and 188 billion in transaction volumes between 2020-2025.

In the fast-evolving landscape of cybersecurity, the intersection of technology and security has become imperative. Within this dynamic realm, application programming interfaces (APIs) have risen to prominence as a linchpin in fortifying our digital defences.