Tag: Nedbank

The rise of financial technology (fintech) in Africa is not just a story of innovation; it's a narrative about empowerment and transformation. As the continent continues to grapple with the challenges of limited access to traditional banking services, fintech has emerged as a beacon of hope, offering a path towards financial inclusion and economic growth.

Between work, family, and personal commitments, carving out moments for ourselves feels like a constant battle. One area that often gets squeezed? Managing our finances. This challenge is interlinked to our most valuable commodity: time. People simply do not have enough time.

Small and medium enterprises (SMEs) in South Africa continue to face a business landscape that is simultaneously full of challenges and brimming with opportunities. A still-struggling economy, rising costs, high unemployment figures and an uncertain political future have created a business backdrop against which only the most resilient and innovative businesses will thrive.

Several research studies have shown that people spend most of their time at work. The average time spent in the workplace, over a lifetime, is 90,000 hours - a third of a person’s life. This means that organisations have a captive audience whose attitudes, thoughts and ideas can be positively influenced or changed not only for the gain of the company but also for the greater good of society.

The untapped potential of Small and Medium Enterprise (SME) in the country is astounding. However, the red tape placed on them is even more startling. In South Africa we wouldn’t stand for our national teams playing with their hands tied behind their back.

Strong revenue growth enabled headline earnings growth of 20% to R14bn, an increase in ROE to 14% and a CET1 ratio of 14%

While COVID-19 put the brakes on the economy, the post-pandemic recovery has almost been stymied by the ongoing Russian war on Ukraine and the impending fears of a US recession, contributing negatively to economies around the world. Through the most challenging hurdles, however, the franchise sector in South Africa has remained steadfast in its goals to grow the economy and create jobs.

South Africa’s franchise sector has shown tremendous resilience, first withstanding the heaviest effects from economic lens of the COVID-19 pandemic, secondly, looking at how global economies, suffered from the knock-on effect of the Russian war in the Ukraine.

COVID-19 is simply a symptom of a deadlier underlying issue: our dominant belief that humanity is separate from and above the natural world. This pandemic was predicted in the Journal of Clinical Microbiology, in which a 2007 article explicitly referred to the likelihood of further SARS-like viruses linked to the culture of eating exotic mammals in Southern China.

The economic impact of COVID-19 is being felt increasingly by individuals and businesses across the country. The simple fact that the Unemployment Insurance Fund (UIF) has been swamped with applications and already paid out well over R4 billion in UIF claims is clear evidence of the strain being felt by many households.