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  • South African fintech in 2019 – what can we expect? [Opinion]

    Here are my fintech predictions for 2019 based on what we are seeing with our members at AlphaCode which closely track international trends in this space. AlphaCode is the Rand Merchant Investments (RMI) incubation, acceleration and investment initiative that identifies, partners and grows early stage financial service ventures. Digital banks The introduction of TymeBank, BankZero and Discovery Bank will no doubt shake up the industry and give customers greater choice. It will also force the incumbent banks to respond by refining their customer value propositions and user experiences. As a result, we expect to see greater focus from the traditional banks on...

  • How to take your business global

    Many South African businesses have ambitions far greater than the domestic market. This is particularly true of financial services as our system is the most advanced in Africa, with first world infrastructure that resembles that found in developed markets. Consequently, financial services solutions developed here are highly relevant to developed markets. Andile Maseko, head of strategy and ecosystem at AlphaCode says, "There are a number of strong examples of South African fintech companies that have become global successes. By focusing on the right aspects and learning from key players, you can turn global ambitions into reality." AlphaCode is the Rand Merchant Investment...

  • Sureswipe’s MD receives the 2018 National Entrepreneur Champion Award

    Sureswipe’s managing director, Paul Kent received the 2018 National Entrepreneur Champion award, which was announced by the National Small Business Chamber (NSBC), in association with World Famous Events on Friday 9 November. Kent commented, "We were honoured to walk away with two nominations this year -- one personal award for the National Entrepreneur Champion and a second for Sureswipe being nominated in the 'NSBC Top 20' Small business category. I was overwhelmed and excited to be nominated, but very thankful for such a prestigious acknowledgment from our industry," "I am proud to stand alongside the other seven champions who won awards...

  • Fintech business pays hosts in advance for Airbnb bookings

    Further disruption in South Africa’s accommodation and property letting sector is on the cards as AirAdvance, a fintech startup, provides those offering private accommodation through Airbnb easy access to affordable finance. It uses a confirmed Airbnb booking as collateral for a cash advance. Founder of AirAdvance, Jozette Chetwynd-Palmer (pictured above), says, "Using Airbnb to generate revenue is growing rapidly in South Africa as it joins the rest of the world in the sharing economy. In fact, last year, Airbnb stats show that South Africans hosted over 830 000 guests in their homes." Findings released during Airbnb’s Africa Travel Summit found that...

  • SA fintech Akiba Digital launches fun savings app for SA millennials

    Financial literacy remains a barrier for the youth. There is currently no platform that offers financial insights and proactively empowers or educates millennials about personal financial issues such as credit, lending, savings and investments. As a result, an increased number of millennials struggle to meet their financial goals as they are not equipped with adequate knowledge to make good financial decisions. Some of the reasons why millennials aren’t saving effectively include fragmented financial literacy, inconvenient channels to access financial products, complex financial product language, low affordability and accessibility to financial advisors and planners. Enter Akiba. Akiba is working towards becoming a data-driven...

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