COVID-19 and Digital Transformation
Unpacking the Economic Impact of COVID 19 on SMBs in South Africa
One in two small and medium-sized businesses (SMBs) in South Africa has yet to see revenues recover to pre-pandemic levels, according to the latest edition of Facebook’s Global State of Small Business Report. 50% of operational South African SMBs on Facebook reported that their sales in February were lower than the equivalent month last year. Some 74% reported that they were operational or engaging in any revenue-generating activities, while 8% of operational SMBs on Facebook expected challenges related to cash flow and 20% expected challenges related to demand or a lack of customers in the next few months. Continuing trends observed throughout the pandemic: Women-owned South African businesses have been hit especially hard. Some 71% of women-led SMBs (vs. 77% of men-led SMBs) on Facebook ...
How Digital Adoption Across Africa Supersedes the World
Sourced from Redbubble and iStock. Although Africa currently trails other regions in terms of digital adoption and maturity, the pace of adoption and infrastructure buildout is happening faster on the continent than any other region in the world. This creates the opportunity to unlock enormous economic potential, according to a new report by Boston Consulting Group (BCG) in partnership with Casablanca Finance City. “The COVID-19 crisis has also focused minds, accelerating digital adoption among consumers and digital transformation among companies,” says Jan Gildemeister, Managing Director at BCG. “For success going forward, we believe that companies and governments need to coordinate on three fronts: creating scale, nurturing and attracting digital talent, and building ecosystems and innov...
4 Predictions for Digital Finance in 2025
Sourced from Finance Monthly. The digital transformation of the finance sector has continued relentlessly throughout 2020. Industry is already starting to see the paybacks from making small, incremental changes to financial workflows by adopting emerging technologies. The pandemic is accelerating the speed of change and catalysing more investment in end-to-end automation and remote working. So, where will this trend take the industry in four years’ time? Here are four predictions about what the finance function will resemble in 2025: Many of today’s technologies will still be in play Not all challenges from 2020 are likely to disappear by 2025. As tech continues to evolve, so too will legislation and regulations. Requirements change all the time, especially as businesses begin to use bigge...
3 Ways COVID-19 has Digitised Education
The introduction of the fourth industrial revolution has already been transforming the education sector over the past two decades, with technology allowing students to access education from anywhere at any time. This, however, has been fast-tracked due to the impact of COVID-19, with institutions having to close their doors to stop the spread. Although it has been an adjustment for both students and teachers, technology is revolutionising education and paving a way towards a better future in learning – according to Dr Andrew Hibling, CEO of EDGE Education. Hibling says that technology is changing education in 3 fundamental ways: how we learn; where and when we learn; and our interaction with learning materials. 1. How we learn /* custom css */ .tdi_3_18f.td-a-rec-img{ text-align: left; }.t...
How COVID-19 Has Emphasised the Need for Digital Transformation
When it comes to digital transformation, COVID-19 has been a massive accelerant. Businesses with long-term transformation deadlines have been forced to bring them forward dramatically: what was once planned for 18 months’ time, now has to be ready immediately. Consumers are engaging with businesses that are digitally astute now more than ever before. Those that are able to innovate, and to make their products and services available quickly, easily and reliably, are sure to succeed; those that aren’t sufficiently transformed will likely be left behind. This digital transformation drive has far-reaching implications: for how we work, for the tools we use, and for businesses’ long-term relevance. It is shaping the future of our working world. The evolution of office space /* custom css */ .td...
