New Business Founders Forum to support Africa’s entrepreneurial sector

DURBAN – The fundamentals that underpin Africa’s investment opportunity are still exceptionally strong. Africa is home to over 400 businesses with annual turnover in excess of $1 billion (R14.8bn), and as a result consumer spending across the continent – which currently totals $1.4 trillion – continues to rise with this growing population and an emergent middle class. This is according to Herman Marais, chief executive and founder of EXEO Capital, who was speaking in Cape Town at the inaugural Business Founders Forum (BFF) – a platform initiated by EXEO to provide…

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Whats SMEs should consider when applying for funding

DURBAN – SMEs who are not adequately prepared when applying for credit often develop an incorrect assumption that banks are not open to lending. Valentine Jingura, Head of Pricing at FNB Business said that the banking sector is eager to lend to SMEs as means to stimulate economic activity and broader GDP growth. As responsible financial services providers, banks are bound by a set of guidelines and principles, which prohibit reckless lending – to protect consumers and businesses. Accordingly, SMEs who seek financial assistance should familiarise themselves with the credit application…

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Merger enables SMEs to access funding more speedily

CAPE TOWN – Small to medium enterprises (SMEs) are critical to the growth of our country’s economy. It’s estimated that SMEs contribute over a third (34 percent) to the country’s gross domestic product (GDP) and make up roughly 90 percent of South African formal businesses. But considering it is growing at a mere 1 percent, there is a clear need for investment into this vital sector. But for this to change, the way small businesses apply and access these funds needs to become more efficient. Even though government committed R1.5…

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Business confidence at lowest level this year on back of election uncertainty

Business confidence is at its lowest level this year, according to the South African Chamber of Commerce and Industry’s latest business confidence index. The index dropped 1.6 points to 91.8 in March, the lowest level since the start of the year. The index was 95.1 in January and 93.4 in February. The figure is also 5.8 points lower than the 97.6 reported in March last year. The report cites the upcoming general elections as contributing to uncertainty in the business environment.   “The BCI reflects a depressed business climate that…

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Crowdfunding: an untapped funding resource for renewable energy

DURBAN – Small and innovative renewable energy projects battle to raise funds through formal channels. One possible solution is to reach out to communities with an interest in those projects to help fund them through crowdfunding initiatives. While there has been a marked increase in the number of renewable energy projects being funded globally, these are traditionally larger projects generating in excess of 5MW, funded by traditional funders in the form of commercial banks and development finance institutions. Yet smaller projects around the 5MW mark are becoming increasingly attractive to development…

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Santander Brazil Deploys New Strategies in Half the Time with Centralized Decision Engine from FICO

Brazil’s third largest private bank wins FICO® Decisions Award for Decision Management Innovation Highlights: Santander Brazil has reduced the time to deploy or change lending strategies and new analytic models by 50% using FICO® Decision Management Suite By using FICO Decision Management Streaming the bank has also been able to better leverage its data lake and Python code Santander Brazil won a 2018 FICO® Decisions Award for Decision Management Innovation March 14, 2019 — Santander Brazil can now deploy or change new lending strategies and new analytic models in half…

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Energy, utilities and resources – diversify or disappear?

By Colin Beaney, IFS Global Industry Director for Energy, Utilities & Resources Renewables accelerating even faster than previously predicted, CX and UX driving innovation, a new generation of proactive consumers driving demand for more diversified energy, business and payment models: In 2019 energy and utility companies face the challenges of an industry rapidly diversifying, decentralising and digitising. The sure-fire way to keep up? Make sure you stay ahead. By 2040, 66% of the global energy market will be in renewables, driving an urgent race to diversify in 2019   GLOBAL…

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TymeBank, SA’s first fully digital-driven bank, goes live

The race for lending to small and medium-sized enterprises (SMEs) heated up yesterday as the country’s first fully digital bank, TymeBank, went live. The bank, which is backed by billionaire Patrice Motsepe, said it wanted to capture the majority of the 21 million potential customers in the middle-income band. It said it had more than 100 000 people that had signed up for its offering. The bank also launched its EveryDay transactional account bundled with a savings tool called GoalSave, its MoneyTransfer solution and its TymeCoach app. TymeBank said it…

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KZN Youth Fund to assist young entrepreneurs

The KwaZulu-Natal Provincial Government is to unveil a Youth Fund that aims to assist deserving young people to kick-start their business ventures. First of its kind, the KZN Youth Fund follows a comprehensive research by Youth Directorates of both the Premier’s Office and KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs, that identified a huge gap in youth business financial aid. The fund aims to assist deserving young people to kick-start their business ventures, fund new innovative business ideas and to expand young people’s existing businesses without the red…

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Predictions 2019: South Africa’s Shift to a Cashless Environment Will Impact Payment Fraud Defences

Just over a year ago, I wrote on the FICO Blog that “2018 will be the beginning of the end for physical credit cards. However, their functionality will become even more omnipresent in our lives as more cards migrate to consumers’ mobile phones.” In fact, that prediction came true. After some initial hesitance, it’s been interesting to note that more and more South Africans are going digital and adopting mobile payments. The shift to a cashless environment has been largely pushed by the introduction of app-based payment services such as…

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