Rising youth unemployment in South Africa is a critical challenge that requires immediate action due to the far-reaching implications it has for the country’s economic growth, social stability and the wellbeing of future generations. The recently released Quarterly Labour Force Survey (QLFS) shows that South Africa’s unemployment rate for the first quarter of 2023 was
As a preferred enterprise payments partner for Shopify, Adyen will provide large-scale customers the agility to succeed in the fast-moving ecommerce industry Adyen, the global financial technology platform of choice for leading businesses, announces a new global partnership with Shopify, a provider of essential internet infrastructure for commerce, to strengthen ecommerce capabilities, simplify the customer
Between 2020 and 2021, the number of tech start-ups in Africa tripled to around 5,200 companies. Just under half of them were fintechs, making it the fastest-growing start-up industry in Africa. Their success is due to several trends such as the digital boom during the pandemic and increasing smartphone ownership and internet coverage, as well
The award was bestowed on FirstBank in recognition of the Bank’s role in promoting trade and investment endeavours across the continent. With its subsidiaries across the FirstBank Group, FirstBank has continued to play a leading role in boosting cross-border businesses, including trade and investment opportunities, essential to enhancing trade relations amongst countries. In 2021, the
Domestic networks continue to drive financial inclusion worldwide but face an ongoing challenge to stay up-to-date on card functionality and flexibility 2% of all card expenditure is through local payment networks RBR’s Global Cards Data and Forecasts to 2027 study found that the share of spending made on domestic network cards was unchanged at 2%
In today’s rapidly evolving digital landscape, retailers and organisations are continually having to embrace and implement innovative payment changes to streamline payment processes and improve the overall customer experience. An important consideration in this regard for retailers who own their own payment switch is moving it to the cloud, a complex but necessary upgrade and
In December 2015, the share price of First Bank of Nigeria Limited was trading around N4.8 band. About seven years later, precisely last December, the value held tightly to N15, growing by over threefold amid general asset and economic doldrums. The steep rise in the valuation of the financial institution deviates remarkably from the average
While implementing internal controls to protect organisations from fraud and cybercrime takes time, it is imperative that strict controls are in place to mitigate opportunistic as well as organised fraudulent activities, says Ryan Mer, CEO of eftsure Africa, a Know Your Payee™ (KYP) platform provider. In recent years, cybercrime has transformed from a solitary activity
dLocal’s ability to directly process local payments will enable international merchants to accept payments, regardless of the platform, benefiting buyers and sellers dLocal Limited (NASDAQ: DLO, “dLocal”), a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, today announced the Central Bank of Kenya and the National Bank
Consumers in South Africa are experiencing escalating levels of financial stress and are actively seeking alternative forms of payment due to the country’s rising cost of living. The use of developing digital payments are gaining pace in South Africa and statistics show that there is a rising desire for credit among consumers with digital payment
