NOVEMBER 2020
www.businessmediamags.co.za
HEALTH TECH LOCAL START-UPS TO WATCH
CRYPTOCURRENCY IS SOUTH AFRICA READY?
Plus GAMIFIED TRAINING SECURITY PRINTING IS YOUR OFFICE SMART ENOUGH?
GET YOURSELF
CONNECTED Business parks fibre up, SD-WAN shifts network paradigms and 5G gets wired
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EDI T ORI A L COMMEN T
PUBLISHED BY
Picasso Headline, a proud division of Arena Holdings (Pty) Ltd Hill on Empire, 16 Empire Road (cnr Hillside Road), Parktown, Johannesburg, 2193 Postal Address: PO Box 12500, Mill Street, Cape Town, 8010 www.businessmediamags.co.za
EDITORIAL Editor: Anthony Sharpe Content Manager: Raina Julies rainaj@picasso.co.za Contributors: Beth Amato, Samantha Barnes, Trevor Crighton, James Francis, Caryn Gootkin, Dale Hes, Glenneis Kriel, Kim Maxwell, Anthony Sharpe, Monique Verduyn Copy Editor: Nicci Collier Content Co-ordinator: Vanessa Payne Digital Editor: Stacy Visser vissers@businessmediamags.co.za DESIGN Head of Design Studio: Jayne Macé-Ferguson Senior Designer: Mfundo Archie Ndzo Advert Designer: Bulelwa Sotashe Cover Image: sdecoret/istockphoto.com SALES Project Manager: Dan Burman danielb@picasso.co.za Tel: +27 21 469 2489 I +27 83 630 8863 Sales: Corné Louw PRODUCTION Production Editor: Shamiela Brenner Advertising co-ordinator: Monique Sauls Subscription and Distribution: Fatima Dramat, fatimad@picasso.co.za Tel +27 21 469 2400 Printing: CTP Printers, Cape Town MANAGEMENT Management Accountant: Deidre Musha Business Manager: Lodewyk van der Walt General Manager, Magazines: Jocelyne Bayer
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Moving forward
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he world has changed profoundly in the past 10 months (ironic, given how routine and predictable our day-to-day lives became during lockdown). Fundamentally, as we socially distanced from others in an effort to curb the spread of COVID-19, our relationships changed – with loved ones, colleagues, business contacts, service workers, shop clerks. As did our relationship with technology, which facilitated so many of these changes, allowing us to navigate our way through the new normal. Just look at how businesses are using tech to make their offices, which stood empty for so long, smarter – employing apps to manage workspaces, gathering data on high-traffic areas for cleaning purposes, and using sensors that allow for real-time info on available desks (page 21). The growth in remote work means a concomitant need for faster, more reliable connectivity. The onus is increasingly on landlords and property developers to provide high-speed, low-latency, open-access services to their business tenants (page 9). Of course, few sectors have seen such an explosion of research and development as the health sector. We profiled the role of health tech in combating the coronavirus in our last issue, but there are also incredible developments in 3D-printing and wearable health-monitoring devices to look out for (page 5). And then some things never change, like the fight against crime. Actually, that’s not entirely true: criminals are getting smarter and more tech savvy, continually incorporating new techniques and exploiting vulnerabilities. The fallout from a data breach can be immense, meaning organisations need to be ever more vigilant in order to protect proprietary and customer data (page 14). Advances in security printing like microtext, invisible inks and covert static marks are also making it harder for criminals to counterfeit goods (page 17). This won’t be a year upon which many people look back with fondness. But catastrophes have a way of galvanising human endeavour and moving us forward. I hope this issue of Technology, Solutions and Innovations succeeds in demonstrating that.
Anthony Sharpe
CONTENTS 5
Health Incredible advances in 3D-printing in the healthcare sector, plus wearable health monitors and local health tech start-ups to watch
9 Connectivity Business parks get smart about connectivity, SD-WANs revolutionise network management, and we explore the relationship between 5G and fibre 13 Ecommerce Strong partnerships and reliable platforms are key to flourishing in the world of online retail 14 Cyber security We look into the implications of a data breach, plus our antivirus round-up for work-from-home security 17 Asset management How security printing is stopping counterfeiters in their tracks and machine learning is helping to uncover emerging patterns for fraud prevention
18 Finance Optical character recognition and cloudbased programs are streamlining accounting for organisations, plus what you need to know about SARS auto assessments 21 Office Apps, data collection and smart sensors alongside modern design are enabling hygiene and social distancing in our workspaces 22 Training Corporate training is moving away from all-day classroom sessions to gamified digital content, and AI is helping to ensure the knowledge sticks 25 Automotive We look at just how ready SA is for selfdriving cars, plus smart helmets to keep you safe and informed on your motorbike 26 Cryptocurrency The technology and ecosystems around cryptocurrency are maturing, but is South Africa ready for them? 28 Cellular Design trends for the phone of tomorrow, and augmented reality comes of age
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HE A LT H
3D-printing enters new dimensions Advances in 3D-printing are changing the health sector from the ground up. By BETH AMATO
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an 3D-printing reduce the costs of prosthetics and improve the lives of those living with neuro-muscular challenges? Abdul-Khaaliq Mohamed, from the School of Electrical and Information Engineering at Wits University, has found an ingenious way to do just that. The possibilities of 3D “bio-printing” enabled Mohamed to make a hand prosthetic that responds to neural impulses from the brain. His 3D-printed mechanical prosthesis costs R20 000 – a marked difference from a traditionally made prosthetic, which costs about R500 000. “This world of lean manufacturing and 3D-printing has introduced new efficiencies into the highly technical and previously
prohibitively expensive medical industry,” says Mondli Mngomezulu, strategic director at Matte BLK Printing. Beyond mere prosthetics, Mngomezulu says that human organs, such as livers, kidneys and hearts, can be made with a 3D-printer using “bio-ink”, printing living tissues layer by layer. “The ultimate objective is to make these bio-printed organs suitable for human transplantation – which is a critical solution available when the demand for organ donations surpasses the supply.”
Precision medicine through 3D-printing While medicine is a science and thorough testing usually enables precise answers to questions, no two human beings with the
same diagnosis will experience their illness in an identical way. But treatment is usually the same. Precision medicine is a step ahead of a one-sizefits-all medical approach, allowing for the tailoring of treatment according to an individual’s needs. While precision medicine is usually spoken of in genetic medicine circles, 3D-printing can be used as a tool in personalised medicine, says Mngomezulu. “A pill’s raw material – usually in a powder form – is inserted into a specialised 3D-printing machine. The printer can be programmed to make the correct dosage, and the drug is then created in a layered manner. Such technology was once a pipe dream, like something from a science-fiction book. Not any more.”
Wearing your health on your sleeve
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nowing one’s health information has never been more important, especially in the time of a global health crisis. Akhram Mohamed, chief technology officer at the Huawei Consumer Business Group, explains that wearable devices, such as the Huawei Watch Fit, can measure blood oxygen saturation levels. This information can reflect compromised lung function, and can indicate the presence of COVID-19 infection. “Research and development in the health and fitness technology space have made massive progress over the last few years,” says Mohamed. “We now find that wearables in many cases are sufficiently equipped and accurate enough to replace professional stand-alone healthcare devices such as blood oximeters.” Mohamed says devices like the Huawei Watch Fit are also useful in monitoring a person’s mental health. “This device tracks stress levels, analyses stress triggers and provides recommendations on managing stress,” he adds.
Monitoring asthma Asthma death rates in South Africa are among the highest in the world, with an estimated 18.5 deaths per 100 000 cases, according to The Global Asthma Report. But a new wearable monitor, the ADAMM-RSM, is able to monitor respiratory function and help asthma sufferers manage their illness. “The ADAMM-RSM is really important as a tool in primary healthcare and medical screening,” says company spokesperson Ronnie Krüger. “This wearable assists with diagnosis, treatment and disease management, and most certainly saves lives in South Africa.” Data extracted from the device can be shared with caregivers, family members and physicians, with the patient’s consent. ›
“Research and development in the health and fitness technology space have made massive progress over the last few years.” – Akhram Mohamed TECHNOLOGY
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HE A LT H
Health information for paramedics and doctors QFIND is a wearable wristband device especially useful for paramedics and medical practitioners to access information about a patient who may not be able to articulate pre-existing conditions, allergies,
previous operations, medical aid details, and next-of-kin contacts. Medical personnel use a connected app to scan the QR code on a patient’s wristband to quickly access the wearer’s profile. Naseem Gaffoor, the brains behind QFIND, says that the device speaks for people when they are unable to.
“We asked a sample of paramedics and other medical personnel about their challenges in emergency situations, and one of them is the struggle to obtain unresponsive patients’ vital medical details, which could save time in treatment. The immediate contact details of the next of kin are also an important addition.”
Health start-ups to watch HEALTHCLOUD was incorporated in July 2017 through the merger of two early-stage digital health companies. “Our data platform enables clients to seamlessly integrate and build their own user engagement model, for example web or app solutions, and is currently used by multiple healthcare organisations and life insurance companies in South Africa,” says CEO Simon Spurr. HealthCloud allows siloed healthcare systems to “speak” to each other using an application programming interface (API). The API platform aggregates, processes, formats and stores health data from multiple data sources such as medical records, wearable sensors, lab results, hospital and clinic visits, and wellness devices and apps. HealthCloud’s services are now used by healthcare technology systems, hospital groups, insurance companies, medical practices, corporate clients and wellness companies, as well as by individual healthcare practitioners and patients.
OYI TECH’S Medical Card is a savings card that can only be used for medical expenses, and is supported by secure payments technology. The card is primarily aimed at employers whose staff are not covered by medical aid, and encourages saving and responsible financial practices. Unlike with medical aid schemes or health insurance, the cardholder can use it to pay for medical services for any household member or dependant. The card works at any medical provider in South Africa where MasterCard is accepted. Rand Merchant Investments’ start-up incubator, AlphaCode, recently awarded Oyi Tech a R450 000 capital injection.
“The application was to demonstrate how disabled people can control their environment through BRAIN-COMPUTER interfaces.” – Adam PANTANOWITZ
COVID-19 is a serious risk for the estimated 4.6 million people with diabetes in South Africa, as high blood-sugar levels increase the mortality risk posed by the pandemic. Digital healthcare solutions are emerging as effective tools for safe, remote condition management and one local company has taken on this challenge. GUIDEPOST’s telemedicine platform links people living with diabetes to expert clinicians who provide remote, individualised diabetic care. The Guidepost programme has served more than 15 000 patients and has collected more than 1 million clinical data points. On average, patients on the programme have seen a 2.5 percentage point decline in their HbA1c levels.
BROADREACH’S Vantage cloud platform with advanced geo-mapping technology is currently being used by the Mpumalanga Department of Health to identify potential COVID-19 clusters and hotspots. BroadReach has been a leader in presumptive screening data and its mobile application, which uses geo-mapping, collects data in real time so that healthcare leaders can make informed decisions. This technology has served as an early warning system, saving vital time while waiting for positive COVID-19 test results to be confirmed (sometimes up to two weeks later).
Adam Pantanowitz, Danielle Winter and Jemma-Faye Chait of Wits University have pioneered a technology that connects the human brain to a computer in real time. “Brainternet” is particularly useful for people with disabilities like epilepsy, as it could predict the next seizure. Brainwaves are streamed on the internet, alerting friends and family of a patient’s condition in real time. Meanwhile, Pantanowitz, Graham Peyton and Rudolf Hoehler have created a brain-computer interface application using the same technology of gazing at light to turn a device off and on, without a person physically using their arm to do this.
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“The application was to demonstrate how disabled people can control their environment through brain-computer interfaces,” says Pantanowitz. “In this case, we would look at a flashing light to turn a robotic arm on and off. That is, you didn’t need to switch it on; just look at the flashing light to control it. The arm would then be activated, and we could then use facial gestures to control the movement of the arm. “Using this, Graham was able to – without touching anything at all – switch the robotic arm on and pick up a pawn, just using his brain.”
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TECHNOLOGY
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CONNEC T I V I T Y
5g and
fibre
5G is being rolled out across South Africa, bringing with it the promise of super-fast, low-latency, wireless internet connectivity. But does this mean fibre will become redundant? By ANTHONY SHARPE
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ot at all, is the answer from Zoltan Miklos, general manager of network planning at MTN South Africa. “When people talk about 5G, they often approach it from a radio perspective,” says Miklos, “but 5G is really an end-to-end architecture. You need to make sure the various building blocks of the network support 5G and its use cases. The radio base station elements, radio spectrum, high-capacity backhaul to the core network, the core network and supporting systems are all critical for 5G.” Miklos says the main metros will use fibre predominantly to support 5G deployments, because this is where infrastructural development has been concentrated. Where fibre is not available, high-capacity microwave links are used, which can support bandwidths in excess of 1Gbit per second. “Ideally, you need 10Gbit per second connectivity to a 5G-enabled mobile base station site, which fibre enables.” Further enabling 5G and the required national network capacity is fibre technology called dense wavelength division multiplexing (DWDM), which allows data signals from a variety of sources to share a single optical fibre. “DWDM is used in the national optical transport network, which interconnects our core sites,” explains Miklos. “This high-availability core carries mobile, enterprise and wholesale traffic.”
The business case The interplay between fibre and 5G is a complex one, both on a technical and business level. “Fibre won’t be deployed everywhere in South Africa, especially to the end user,” says Miklos. “The business case is difficult: low user density scenarios and high cost structures don’t allow for it to be deployed in some areas. There are long-haul fibre routes outside the metros that connect remote locations. But for clusters that are far from fibre infrastructure, long-haul microwave systems using multiple hops are required to provide high-bandwidth connectivity to these clusters.” Key to deployment considerations, says Miklos, is the fact that capacity requirements vary between rural low-density areas and urban areas. “Ideally, if the capacity requirements grow over time, fibre will be planned to those locations.” While fibre deployment is much more widespread in urban areas, it still requires capital investment prioritised by required bandwidth and the density of that demand. In some situations, 4G and 5G provide an opportunity to service fixed connectivity requirements. “It is optimal to deploy fibre as deep as possible, then have a wireless tail,” says Miklos. “A smart capital approach we follow is once there is sufficient densification of demand, then you extend the fibre network to the user to augment the wireless infrastructure.”
SD-WAN: a paradigm shift for network management
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odern businesses find themselves juggling sprawling, complex, diverse systems and applications, making reliable, comprehensive network management crucial. Softwaredefined wide-area networking (SD-WAN) presents a centralised solution for network management with the potential to greatly simplify the process. “A key benefit of SD-WAN is predictability,” says Julian Liebenberg, chief of converged communications at BCX. “In the previous dispensation, it was possible to configure two devices on a network in such a way that they could not establish communication with each other. Now this is impossible: you’re using a centralised controller to establish connectivity between these devices, so by default your devices can communicate.” Liebenberg says this represents a paradigm shift in terms of network management: you don’t need someone to configure the network, because it configures itself. What this means is that network management becomes more of a business than a technical case. “The network becomes part of your intelligence. It collects information about business transactions. You start to think about how to get more out of the network. Your applications can learn from it: perhaps sales of a product line are picking up in a given branch, so your application needs to behave in a different way. This provides far more real-time data than looking at month-end reports, but only if someone takes the time to program the network to give those values.” ›
TECHNOLOGY
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CONNEC T I V I T Y
Supporting your strategy
DID YOU KNOW? According to its annual reports, by March this year Telkom’s national fibre network had reached 165 900km (a 1.3 per cent increase on 2019), with 455 553 home connections (a 5.8 per cent increase on 2019), and 47 179 business connections (up 25.9 per cent from 2019). Source: Africa Bandwidth Maps
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Connecting business parks
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irtually no business can function without internet these days, so it goes without saying that high-speed internet connectivity for business parks is essential. “Fibre has almost become a commodity, like water or electricity,” says Gary Webster, head of wholesale department at Metrofibre. “A couple of years ago, clients would contact landlords a couple of months before they moved in to check if they had fibre. These days it’s expected. “We’re in an environment where cloud computing is becoming more and more prevalent, and the COVID-19 crisis has only reinforced that,” continues Webster. “Working from the cloud makes fibre an absolute necessity. A key advantage of fibre over previous access technologies is high-speed synchronised connectivity, meaning the upload and download speeds are the same, which is critical for cloud applications.”
Making the right choice According to Webster, whereas in the past individual companies within business parks would approach their preferred internet service provider (ISP) when they needed to get connected, more business parks and property developers are using Open Access fibre network operators (FNO) to fibre up their
HIGH-SPEED BROADBAND? Compared to the other BRICS countries, South Africa has the slowest fixed broadband speeds, with a speedtest ranking of 96. However, with a speedtest ranking of 60, our mobile broadband speeds are second only to China (ranked 6th). Source: State of the ICT Sector in South Africa – 2020 report by ICASA
business office parks, thus offering the tenant the ability to choose the ISP of their choice. “We implement a turnkey solution, from planning and surveying to managing marketing and sales. This mitigates the risks of having multiple ISPs lifting up paving, potentially cutting existing lines and creating havoc.” There are ancillary benefits to a good fibre service provider, including Voice over Internet Protocol telephony and enhanced cyber security, but Webster says that when making the choice, a crucial question landlords or property developers should be asking is whether or not the FNO is an open-access provider. “You don’t necessarily want to be stuck with one specific provider, and you need to establish if the ISP offers uncapped, unshaped services. It’s important that tenants and developers understand all the terminology to ensure that the service they provide to their tenants is open-access, uncapped and includes the desired ancillary benefits.”
“We’re in an environment where cloud computing is becoming more and more prevalent, and the COVID-19 crisis has only reinforced that.” – Gary Webster GETTING CHEAPER According to the GSMA Mobile Internet Connectivity 2020 SubSaharan Africa Factsheet, mobile data prices across sub-saharan Africa almost halved between 2015 and 2019. The average price of 1GB of data decreased from 8 per cent of monthly GDP per capita to 4.2 per cent.
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Although there is a glut of vendors offering quality SD-WAN solutions, Liebenberg says choosing one can be quite tricky. “Firstly, it is not interoperable. Each vendor is proprietary; you can’t pick two and run them concurrently, so you need to make the right decision first time.” A second consideration is to what degree the SD-WAN supports your software-defined networking (SDN) strategy, as very few vendors do this comprehensively. “SDN covers the LAN – wireless and cable, which is software-defined access. Then there’s the SD-WAN in the middle. And at the top end, you have the infrastructure where your applications reside, be that in a hyperscaler in your own data centre or a private cloud. Those are the three environments of SDN, and you have to ask yourself if the vendor you’re dealing with gives you a strategy across all three areas.” Security is also an important factor. “If you deploy SD-WAN over a private underlay – such as metro ethernet or MPLS – then you are typically less concerned about security, as even though you connect all your branches, you apply security at a central firewall.” However, if you deploy over any form of public internet (for example broadband) – an increasingly common scenario during lockdown – then every branch becomes exposed. “At this level, though, most leading vendors are able to address these concerns. Many are PCI DSS compliant, which is the credit card industry standard, a very high level of compliance.”
TECHNOLOGY
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hether you’re working remotely, studying from home, or want to have more indoor entertainment for the whole family, there’s never been a better time to move to Vuma Fibre Core. What’s all the fuss about fibre you may be asking – especially as there are many other options on the market promising fast, uncapped internet at great prices? Understanding the different connectivity types and which one is best for your home can be overwhelming, so here’s a quick and simple description of each.
ADSL VS LTE VS FIBRE
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A DV ER T ORI A L
If you have a landline, chances are that you’ve been using an ADSL line to connect to the internet. ADSL is now being phased out as this technology is outdated and inadequate for modern internet needs. Downloading, streaming and watching live TV and video requires a stable and reliable internet connection to prevent buffering and lag, which ruin the viewing experience; and ADSL simply doesn’t cut it. So, ADSL is no longer an option for South African internet users and will soon be disappearing for good. We won’t give you all the technical stuff about LTE and how it works, but basically, it delivers the internet to your home using cellular data networks and signal towers. As such, much like the mobile internet experience on your phone, the quality of an LTE
internet experience depends on where your home is located on the LTE coverage map. Poor weather conditions also adversely affect how and when you’re able to access the internet. This can be a problem given South Africa’s varying range of weather conditions on a single day.
Fibre gives you the freedom to create virtual meeting spaces and collaborate with colleagues through high-resolution video conferencing, plus the ability to upload, download and share large files in a matter of seconds. Now, fibre connectivity – the fast, reliable and affordable way to connect your home to new worlds of opportunity, entertainment and information – with zero hassle. Because of its super-speedy download rates, fibre provides the freedom to stream, download, browse the internet and social media, and game – all at the same time. This is because Vuma Fibre Core is unshaped, unthrottled and uncapped. This means that you won’t have to worry about your line speed dropping or dying on you, no matter how much you use it. It’s faster than any other type of internet connection, which means you won’t have to wait a whole day for a movie or series to download – downloading a five-gigabyte movie takes a few minutes! Fibre also provides
unlimited internet access so you can surf the internet all day with no fear of disconnection or incurring additional data costs. For entrepreneurs and professionals working from home, fibre gives you the freedom to create virtual meeting spaces and collaborate with colleagues through high-resolution video conferencing, plus the ability to upload, download and share large files in a matter of seconds. Fast and reliable fibre allows children and students studying at home to access e-learning tools, and easily download online tutorials and educational videos in high definition.
SIGN UP FOR VUMA FIBRE CORE Signing up is easy – go to www.vumatel.co.za/ coverage to see where your home is located on the Vuma coverage map. If you fall within the coverage area, hooray! Now browse the fibre internet packages from 55 internet service providers on our network to find the one that fits your unique budget and lifestyle. If your home is not covered, encourage your friends, family and neighbours to show their interest in getting fibre by visiting the Vuma coverage map on the website and completing our ‘Show My Interest’ form. You never know, fast fibre could be coming to your neighbourhood very soon.
For more information: www.vumatel.co.za
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ECOMMERCE
Selling Online 2020 is the year everybody started shopping online. SAMANTHA BARNES reports that shopping trends have changed and retailers need to be smart about online offerings
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nline shopping is here to stay and set to grow – substantially. According to research by Euromonitor International, online sales in South Africa will grow almost three times as fast as in-store sales in the period 2018-2023. “Evidence from South Africa, as well as other countries, shows key behaviours,” explains Jonathan McCabe, products management consulting lead for Accenture in Africa. “Consumers are not returning to physical stores in the same numbers despite the easing of lockdown restrictions. They are consolidating shopping engagements and purchasing larger baskets both online and in-store. Consumers who had the resources and ability but limited desire to shop online were forced to try the channel, and a high proportion will continue to buy online.”
New pressures McCabe cautions that the challenge is that this channel is more costly for retailers, with overall profitability under pressure. “The ecommerce costs are largely incremental to the existing operational costs of physical retail. On the positive side, the online opportunity for retailers is to capture more of the customer’s total basket, as a result of this shift.”
live chat, email, and phone support help when new to the space. Agencies also recommend WooCommerce as it does not include a per-transaction fee and the hosting might seem cheaper. Our experience is that this is not always the case.”
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The quickest route to market
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ouw van Riet, owner and director of eCommerce Development South Africa and Canada, says it has never been easier to start an online business. “All one needs is an internet connection and laptop. You could start the journey on your own or use a company to guide the process.” If going solo there are free resources such as blogs, local Facebook groups and YouTube channels that explain the process in detail. Van Riet proposes consulting a company with extensive experience in the sector, as they will know what works best for a unique product or service. The next step is selecting a viable platform. “Shopify, WooCommerce and Ecwid are probably some of the best known,” says Van Riet. “We recommend Shopify for our customers because of the advantages associated with a hosted platform – 24/7
Door to door Online businesses can benefit from collaboration regarding delivery services. “uAfrica developed an app that integrates with your Shopify store and allows order information to be sent to their system,” says Van Riet. “This generates quotes from courier companies and streamlines delivery immensely. ScrubBill can ship from multiple locations and only costs R5 per waybill. Pargo has partnered with an extensive network of physical locations that customers can choose as pickup points; this is especially popular in rural towns where shipping costs tend to be higher.” eCommerce Development SA is doing significant work in the B2B sector, adds Van Riet. “Wholesale customers are starting to expect the same level of service and user experience as retail shoppers, including browsing a product catalogue. There are also big changes in how sales reps operate. They can be integrated into an online store and businesses can track sales per representative.”
McCabe recommends that retailers consider that not all capabilities need to be built internally. “Look for ecosystem partners that can rapidly deliver capabilities to a retailer. Average order value (AOV) is critical to retailers’ online strategies. Because online costs are higher, fulfilling orders with low AOV presents a significant challenge, best served by organisations with the scale to absorb these costs.”
ECOMMERCE LANDSCAPE Data released by Hootsuite in 2019 shows South African shoppers spent an average of R1 800 per month on online purchases on consumer goods. Although South Africa’s online purchases lead the ranking in Africa, the country’s spend is almost R6 600 lower than the global average. Notably, of the 44 countries analysed in the digital trends report by Hootsuite, the six African countries featured – South Africa, Egypt, Ghana, Nigeria, Kenya and Morocco – all rank in the bottom 10. Revenue in the ecommerce market is forecast to reach R67-billion in 2020, with annual growth in revenue of 10.1 per cent. User penetration will be 37.0 per cent in 2020; projected to reach 50.8 per cent by 2024. Sources: qz.com, statista.com
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CY BER SECURI T Y The impact of POPIA
Managing the risk of data breaches
How secure is your data and that of your customers? By MONIQUE VERDUYN “Unfortunately, even the most advanced cybersecurity systems may be susceptible to data breaches,” says attorney Simone Monty of Monty Legal Consultants. “The person or business responsible for personal information must ensure that appropriate security measures and safeguards are put in place to make their systems less vulnerable to cyber criminals.”
“The incident-response plan should form part of the business’s overall data privacy policy.” – Simone Monty
Antivirus round-up
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ith so many people working from home, good cyber hygiene is a must to help prevent malware and viruses from penetrating your home office.. Here are some free options: • Kaspersky Security Cloud Free provides alerts and warnings, and blocks direct threats from viruses, worms, Trojans, malware, ransomware and other dangers. • Avast Free Antivirus scans for security and performance issues, and provides real-time protection by analysing unknown files before they get to you. • AVG AntiVirus Free includes real-time security updates, scans for malware, ransomware and performance issues, and stops malicious downloads before they reach your PC. • Bitdefender Antivirus Free Edition includes all the essential protection features, without slowing down your PC. Here are some paid options: • Bitdefender offers virus protection that predicts, prevents, detects and removes even the latest cyber threats. • Norton advanced security with antivirus protects against existing and emerging online threats to devices, and protects your private and financial information. • McAfee secures your accounts and generates complex passwords automatically so you can navigate safely online.
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• BullGuard provides antivirus, advanced internet security, and identity protection for all devices. Sources: kaspersky.co.za; avast.com; avg.com; bitdefender.com; norton.com; mcafee.com; bullguard.com
WFH POSES SECURITY RISK In a study by IBM Security of the security risks posed by people new to working from home during the COVID-19 pandemic showed that more than half are now doing so with no new security policies to help guide them. This shift to working from home has exposed new security risks and has left nearly 50% of those employees worried about impending cyber threats in their new home office settings. Source: https://filecache.mediaroom.com/mr5mr_ibmnews/186506/ibm_ security_work_from_home_study.pdf
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s technology progresses, the digitisation of information is leading to more frequent and costly cyberattacks. In one of South Africa’s biggest data breaches, credit bureau Experian recently exposed the personal details of as many as 24 million consumers and nearly 800 000 businesses to online fraudsters. Data breaches have thrown the vulnerability of even the most supposedly secure data repositories into question. Malware, phishing, DDoS attacks and ransomware are just some of the methods that external hackers use to gain access to data. Internal data leaks, which stem from employees, may be accidental or wilful, with some employees willingly selling data to cyber criminals.
The Protection of Personal Information Act (POPIA) is designed to protect consumers from data theft, and organisations from loss of confidential information. Failing to take reasonable and practical steps to safeguard data may lead to reputational and financial harm, disruption to business operations, and the possibility of fines, imprisonment and damages claims from data subjects who may have suffered loss as a result of the data breach. “POPIA demands accountability,” says Monty. “Organisations are expected to demonstrate respect for the law and the consumer by having monitoring and security protocols in place. They must ensure that employees are trained on data security and that staff and service providers have access only to the data they need. There are a number of best practice protocols that are used as a benchmark to evaluate the level of security of systems that a responsible company will continue to test and update as the landscape changes.” It’s important for an organisation to understand what POPIA requires in the event of a security compromise. It is prudent to develop a proactive incident response plan rather than taking a crisis-driven approach. “The incident-response plan should form part of the business’s overall data privacy policy, and should outline the steps to take and cover the notification requirements of POPIA in the event of a privacy breach,” says Monty. “Once it has occurred, how a breach is managed makes all the difference.”
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A S SE T M A N AGEMEN T
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ecurity is among the fastest-developing technologies in the print industry. Print security solutions are being used to prevent forgery in the printing of items like banknotes, tax stamps, identification documents, diplomas and degrees, and financial documents, with security fonts used to print text and amounts on these secure documents, says Wendy McLoughlin, business development executive at Kemtek Imaging Systems. McLoughlin says brand protection solutions use security inks, secure design and origination, substrates and materials, and secure track-and-trace systems to protect brands from counterfeiters, particularly in the nutraceuticals and wellness, cosmetics, personal care, spirits, industrial and automotive, and controlled food and beverage sectors. “Each of these segments usually requires multilayered solutions that include security printing and brand protection,” explains McLoughlin. “For example, secure documents could use serialised microtext, covert serialisation and covert static marks within a document, while a financial or smart card application may use track-and-trace, or QR codes with invisible ink. Multilayered security is the key to success against fraud and counterfeiting.”
Countering the counterfeiters New printing techniques are putting the brakes on forgery and counterfeiting. MONIQUE VERDUYN investigates
Curbing fakes With the existence of many types of authentication, HP Indigo’s security and brand protection solutions, for example, offer several different security levels and authenticators. Forensic features are only detectable in the lab and their exact nature is a closely held secret for security reasons. Covert features are invisible to the eye, and detected by specialised devices such as a UV flashlight, infrared laser and specialised readers. Semi-covert features require simple test equipment such as a magnifying glass, or interference slide.
THE COST OF CYBERCRIME As the use of technology, the internet and smartphones grows, so does the opportunity for cyber threat actors. In 2019, South Africa saw a cross-industry spike in cyberattacks, according to Accenture’s 2020
Overt features are visible to the consumer. Detection doesn’t require any special equipment. “With fraud and counterfeiting on the rise, customers need security-grade solutions with digital agility and advantages,” McLoughlin says. “These include unique and exclusive security solutions, and stronger security with the power of variable data that allows for each product to have a unique ID in order to curb fakes.”
“Multilayered security is the key to success against fraud and counterfeiting.” – Wendy McLoughlin
report, Insight into the Cyber Threat Landscape in South Africa. We have the third-highest number of cybercrime victims worldwide, with businesses losing approximately R2.2-billion a year to cyberattacks.
IMAGES: ISMAGILOV/ ISTOCK.COM, KTSIMAGE/ ISTOCK.COM
AI is redefining fraud prevention
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raud prevention is an ongoing battle. Fraudsters are particularly crafty and will adjust their attacks as their schemes are countered by organisations. Often, as companies introduce new detection controls and strategies, they are shared directly with criminals by corrupt employees, making effective fraud prevention incredibly challenging.
“Rules can do well at uncovering known fraud patterns, but rules alone aren’t very effective at uncovering unknown schemes,” says Dion Scotten, head of fraud and security intelligence CxP, Middle East and Africa at SAS Institute South Africa. “Identifying new threats is critical for deploying a proactive fraud prevention capability. “Manual extraction and analysis are not effective any more, meaning more organisations need integration and automation to stay ahead of the curve,” elaborates Scotten. “There is no single machine-learning algorithm or method that works; success comes from trying variations of machine-learning-based methods and testing them with a variety of data sets.” As new data sources, channels or online services become available,
organisations need to be agile enough to incorporate the new information into their analytics and make decisions in real time. The only way to do this effectively is through artificial intelligence (AI) and machine learning. “Advances in fraud analytics mean that systems can learn, adapt and uncover emerging patterns for preventing fraud,” Scotten adds. “Most important is making sure the detection model you deploy does not impact negatively on the customer experience of the genuine customer population. Organisations want to identify fraud and risk, but also want to ensure that everyone else is not challenged unnecessarily. AI and machine learning can help distinguish between real customers and bad actors.”
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F IN A NCE
Tax tech Innovations in accounting software help businesses streamline financial processes. CARYN GOOTKIN finds out how these changes help finance professionals
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shared screens, which allowed me to share content, demonstrate instructions and give the necessary direction.” Optical character recognition (OCR) is another technological innovation businesses are incorporating. “We currently use OCR to convert PDF documents to Word for editing or content sharing,” says King.
“Company staff and audit teamwork is now conducted on video-conferencing platforms.”
SARS auto assessments
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ARS collects data (from medical aids, banks, insurance companies and similar institutions) and uses this to pre-populate tax returns. “When a taxpayer logs in to file a return, the information is already there, so they simply fill in the missing components, submit and receive an assessment,” explains Mark Silberman, director at Accfin Solutions. “Taxpayers receive an SMS from SARS inviting them to log in and accept the auto assessment. If they accept, there is nothing
– David King
further to do, as they are assessed. If they dispute it, they simply do not accept the auto assessment. They can then download their return, complete it and submit it to be assessed in the normal way.” The assessments are based on the normal calculation rates for that taxpayer’s income and are most suited to lower income earners with simple tax returns. “One downside to the auto assessments is that taxpayers cannot claim out-of-pocket expenses and car allowances this way,” says Silberman. “But the concept is a good one, and does not affect any taxpayer detrimentally as they have the option to complete the return normally. The system does need to be fine-tuned to ensure that the correct taxpayers receive auto assessments; this should happen in the next year.”
At a distance
AI FORECASTING “In volatile times, the financial budget quickly ceases to be a meaningful basis to plan the business, to measure performance or to exercise management control,” says Catherine Stretton, a director at Deloitte Africa. “The introduction of artificial intelligence to prepare fully automated, dynamic rolling financial forecasts and scenarios helps to maintain a realistic benchmark for planning and management control.”
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“We are moving towards incorporating it into other elements of our work to achieve the ‘planet’ element of the triple bottom line with reduced paper usage and storage. We look forward to the day it is integrated into accounting software to reduce the chances of human error.”
When a finance team falls behind, it has dire consequences for the business. “Having remote access into our accounting software during lockdown enabled us to keep records up to date and reforecast for the remainder of the year,” says King. “But make no mistake, this technology does not come without challenges, as server and other IT issues can cause instability and downtime. To overcome these issues, many professionals have turned to cloud-based accounting programmes, which allow finance professionals to access financial information during these turbulent times, even from tablets and phones. This is not always possible with traditional software.” Lockdown also affected annual audits, as large audit teams can no longer work from clients’ premises due to socialdistancing requirements. “Company staff and audit teamwork is now conducted on video-conferencing platforms,” says King. “Secure web portals allow for the sharing of confidential documents between clients and auditors. Email is not considered secure for this purpose. Using this technology, auditors can complete audits largely virtually, saving on expenses like travel.”
IMAGES: MONSITJ/ ISTOCK.COM, PROSTOCK-STUDIO1/ ISTOCK.COM
OVID-19 lockdown brought technology into the limelight as finance teams had to pay salaries, and make and receive other payments remotely. “Often, this happened from home and not the office, which meant businesses had to ensure key personnel had constant stable home internet access,” says David King, finance director at CGI Creative Graphics International. “It was important for me to be able to communicate effectively with my team, which meant video-conferencing platforms like Zoom became crucial, especially features like
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OF F ICE In the JJL Madrid office, designed by Tétris, traditional work station numbers were reduced and some employees work remotely
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ffice needs have changed since the pandemic, with many companies downsizing or simply reassessing their workplace needs, thanks to enforced remote working practices. Robyn Bailey is head of design and business development for Tétris South Africa, an international company specialising in office design. She says there is no onesize-fits-all solution, as the number of users, existing layouts and pressure points differ. “In feedback from local clients, we’ve seen a shift from aesthetic goals to health-focused designs,” Bailey says of 2020 developments. “We expect to see many companies using portals or apps to control employee experience and meet government guidelines. They will help organise staggered working hours and start times, and facilitate health questionnaires, biometrics, room booking, lighting and temperature control, as well as enabling amenity-rich conveniences such as touchless food ordering.”
Is your office smart enough? Businesses are rethinking their workspace configurations to ensure optimal space efficiency and employee wellness. By KIM MAXWELL or use data to identify high-traffic areas for focused cleaning. If companies decrease physical workstations, employees will log on to see occupancy of their office space and locate open desks, with sensor technology linked to apps. For office managers, this understanding of who is in what space will be key to creating strategies to manage people flow. “Space planners may ask why Tuesday and Thursday afternoons are busier. Or why a room isn’t used as often,” says Bailey.
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“Questions from our clients now are: what materials are we using? How easy are they to clean? And how do we design pause areas and coffee stations to ensure that cleanliness and social distancing are maintained?” says Bailey. Tétris is one of a handful of companies using Building Information Management (BIM) 360 for interior design on its projects in South Africa. This cloud-based platform enables teams and clients to collaborate in multiple geographies, producing 3D virtual walkthroughs, with feedback and changes implemented in real time. Says Bailey: “We’re working on a project in Cape Town for a pharmaceutical client in the US, having a small team on the ground and a larger project team in the Johannesburg office.” Kollenberg says offices will become centres around which regional and remote working can revolve. “While offices will change and be reconfigured, their role as business spaces will remain as relevant as ever. Culture, collaboration and communication are enabled by offices, as are the cues of leadership.”
“In feedback from local clients, we’ve seen a shift from aesthetic goals to health-focused designs.” – Robyn Bailey
Remote office work
Flexible spaces Growthpoint Properties’ head of asset management for offices, Paul Kollenberg, agrees that space tailored to its use will play a bigger role. “Think spaces to meet and collaborate, to do admin tasks or just concentrate, instead of a staff member having one dedicated desk for everything,” he says. “We believe offices are going to be a place to plug in – where people plug into a team and corporate culture, where teams plug into creative thinking and problem solving, where business plugs into innovation, and where a remote-working network can plug into their company server and resources,” says Kollenberg. Bailey sees a long-term shift to an increasingly “augmented workplace”, with “smart spaces” enabling how staff use shared spaces via phone apps. Visitors will be able to check into a building via the management system, be screened and given directions to the meeting room or workspace. With cleaning, sanitation and enhanced air filtration systems an ongoing focus, smart offices will enable service teams to book slots for stringent cleaning,
Smart design
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study of COVID-19-related lockdown impact on employee digital communication patterns in 16 large metropolitan areas in North America, Europe and the Middle East found that employees changed their communication activities when working remotely. In weeks following lockdown, employees increased their number of meetings and emails sent, and adjusted
work schedules with significant, durable increases in lengths of the average work day. The authors speculated that, on one hand, the flexibility to choose working hours to accommodate household demands may empower employees by affording freedom over their schedules. But they also said the change in work schedules could also be thanks to a blurred distinction between work and personal life, where it’s easier to overwork due to a lack of clear delineation between office and home. Source: Collaborating during Coronavirus: the Impact of COVID-19 on the Nature of Work. National Bureau of Economic Research Working Paper No. 27612, July 2020.
TRENDS ABROAD • Large co-working spaces are out. Smaller, private offices are in. They are easily cleaned and controlled. • Trialled office sharing has increased – in Covent Garden, separate companies are sharing a private office space, using a two/three day-week timeshare. • Some businesses work one week in the office, one at home. Source: Economist Edward Griffin, founder of WorkPad
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T R A INING
AI makes inroads into corporate training
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DALE HES investigates the latest developments in employee training methodologies
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efore COVID-19, corporate training was already in the midst of a shift away from traditional “classroom-based” training. With the pandemic accelerating this movement, face-to-face training could soon be a thing of the past. Michael Gullan, CEO of digital training company G&G Advocacy, explains that a combination of depopulated offices and digitally competent employees has seen a dramatic shift in the way workplace training takes place. “The future of workplace training is informed not only by the depopulation of offices, but also by the entrance of a more technology savvy generation into the workforces.” Gullan says that modern organisations are shifting to better-quality, shorter training material. “Due to the high-energy, highdisruption workplace, adult learners no longer
Play smart Gullan adds that digital games-based learning creates a more engaging training experience for the new, tech-savvy generation of employees, while providing incentives is also a strong motivator. “The human brain processes visual information 60 000 times faster than text. Gamification is not a fad; it’s the future. Meanwhile, tying learning into real-world rewards and incentives is a hugely important step in developing participative learning experiences. Building an authentic rewards and incentives system improves the organisation’s competitive interests, employee performance and esteem, and lowers staff turnover.”
“Gamification is not a fad; it’s the future.” – Michael Gullan Gullan points to G&G Advocacy’s Content Capsules training methodology, which empowers adult learners to learn when, what and how they want to online. “Technology is evolving at an unbelievable rate, and has created significant changes to the skills required in a large majority of roles in all sectors. This means HR needs to be extremely competent at assessing the skills that are required for the workforce and identifying appropriate solutions to upskill and develop for the future-required talent.”
HAS COVID-19 INCREASED PRODUCTIVITY? According to the Remote Working in South Africa 2020 survey, a shift to remote working during COVID-19 has led to increased productivity for 29 per cent of organisations. This jumps to 70 per cent among companies that had already rolled out digital transformation strategies before the pandemic.
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RISE OF THE AI CHATBOTS According to IBM, 85 per cent of customer interactions will be handled without a human agent by the end of 2020, and around 40 per cent of customers don’t actually care whether a real human or a chatbot assists them, as long as they get the answers they need.
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The end of traditional corporate training?
have the time or the inclination to attend training that is generalised. They require short, relevant, highly engaging training material. The days of sitting in multi-day training sessions is not practical any more, and digital solutions simply deliver this experience in a better way.”
lthough still at the very beginning of its adoption, the value of artificial intelligence (AI) in creating more targeted, customised training experiences for adult learners is being recognised by corporate training providers and the clients they serve. Michael Gullan, CEO of G&G Advocacy, points out that AI is starting to be implemented on a number of platforms. “We see AI being used in chatbots and providing intelligent feedback to learners, but most commonly its power is being harnessed to provide more customised content pathways for learners.” Gullan says that AI can alleviate problems with “spillage”, whereby between 50 and 80 per cent of lessons and concepts learned during traditional corporate training are never applied to the job. “This can be done by tailored learning pathways that develop knowledge and concepts that can be immediately applied, while minimising less useful information, and maximising return on investment for the organisation and the learner.” Gullan says that with workforces becoming more tech-savvy, most adult learners respond well to digital training solutions, as long as they are properly implemented. “Sophistication can be poorly implemented if not in the best interests of a learner. The current generation of employees entering the workforce has grown up with a level of technological sophistication. They not only feel comfortable but also have a preference for technology and automation.”
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AU T OMO T I V E
AI, take the wheel
DID YOU KNOW?
Google parent company Alphabet Inc.’s Waymo subsidiary leads the global pack in terms of both number of AVs currently operating (600 cars), and number of kilometres driven (32 million in the real world and more than 16 billion in simulation). They currently operate a Waymo One fleet of robo-taxis in Phoenix, which have a person seated up-front to act as a backup driver. Source: Alphabet
Autonomous vehicles are making waves internationally. But is South Africa ready for them? By TREVOR CRIGHTON
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hina is building dedicated lanes on highways for self-driving cars, otherwise known as autonomous vehicles (AVs). Twenty-nine US states have enacted legislation related to autonomous vehicles. And the UK passed the Automated and Electric Vehicles Act in 2018. The future of mobility is centred on AVs – so how ready is South Africa to adopt the tech? In April 2019, former transport minister Blade Nzimande told Parliament during a Q&A session that, while there are plans for driverless vehicles in South Africa, introduction will not take place in the immediate future due to the need for an array of policy and legislative amendments. Dr Martyn Davies, managing director of emerging markets and Africa at Deloitte and automotive industry sector leader, is sceptical. “Government speaks about job creation, never value creation, which would seem to render advances like the introduction of AVs in the country – which would have an impact on many jobs in the transport sector – moot. While the introduction of AVs seems like a natural progression in terms of bringing down costs and increasing efficiency, things like our workforce are not enabled to take advantage,” he says. “While there are a number of AVs operating in closed environments like farms and ports, the chances of them appearing on public roads any time soon seem slim.”
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A complicated environment Davies says that there are currently too many variables on South African roads for AVs to operate safely, including citizens’ general disregard for road rules – citing the behaviour of taxis and pedestrians, in particular. “AVs are programmed to abide by the law and our roads – as they do in other parts of the world like India and southeast Asia – operate under a general sense of anarchy,” he says. “Hijackings are also sadly common in South Africa, and I think that AV passengers would be pretty easy pickings with the vehicles unable to respond to threats like that safely.”
Smart helmets QUIN DESIGN Topping the Quin Design range is the Ghost Zero, which weighs 1.3kg despite packing a load of tech. Alongside standard Bluetooth connectivity, a plus is the IntelliQuin Crash Detection system. It’s able to detect a crash scenario and can be programmed to send notifications to three contacts. An SOS beacon is able to provide live tracking of a rider, and acts as an additional manual emergency system. There’s support for Google Assistant and Siri for easy mobile interaction, navigation and playing music. Approx. R11 000, quin.design
Their proprietary CrossSound Control dampens noise to help reduce rider fatigue and prevent hearing damage, and is customisable via an app, which also allows for conversation with other nearby riders with compatible devices. There are also rear-mounted LEDs for safety, plus seamless smartphone connectivity. Approx. R30 000, shop.crosshelmet.com
TALI CONNECTED
CROSSHELMET The CrossHelmet X-1 takes “smart” beyond crash detection, with the only dual-monitor heads-up display (HUD) on the market. The display details essential riding information, including directions, weather and time, overlaying them in the rider’s field of view. A built-in rear-view camera projects a 360° field of view onto the HUD to completely eliminate blind spots.
Still in the funding stage, the futuristic Tali Connected smart helmet has an array of colour-changing LEDs that link to the motorcycle’s brakes and indicators for improved visibility. It has the usual Bluetooth bells and whistles, plus a geofence alert option in the event that the helmet is stolen. The predicted retail price is around R29 200 and signs of actual production are promising, with the company named a CES 2020 Innovation Award honouree. taliconnected.com
FAST FACT
The global smart helmet market is expected to reach almost R20-billion by 2025, expanding at a compound annual growth rate of 18.6 per cent, according to a study by Grand View Research. It is anticipated that Asia-Pacific will emerge as the fastest-growing regional market, owing to the increasing sales of twowheelers and rapid growth in construction projects.
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CRY P T OCURRENCY
Has cryptocurrency come of age? JAMES FRANCIS explores the need for cryptocurrency regulation in South Africa
– Bernard Bussy
The same applies to many businesses: while cryptocurrencies can be more global and less fraudprone, they are more volatile and sparsely regulated. There are also technical considerations that need to be ironed out. When Pick n Pay ran a Bitcoin trial in 2017, transaction speeds were slow. Such limitations are being overcome, but barriers remain against cryptocurrency going mainstream in the consumer space. “It is probably still some way off. Lots of the underlying and associated technologies are not 100 per cent yet and a sufficient regulatory framework around them is also still lacking,” says Bussy. This doesn’t mean that cryptocurrencies and blockchain are premature technologies though. Instead, it speaks of the radical change they introduce. Ongoing efforts to create regulations will boost cryptocurrency confidence and reduce the number of bad actors blemishing its credibility. Yet Bussy believes their real impact will be elsewhere: “The exciting things to look out for are not movements in the cryptocurrency market itself, but rather the next generation of financial services and market infrastructure made possible by them and their underlying technologies.”
Cryptocurrency regulation in South Africa
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he South African Reserve Bank (SARB) has shown a level of excellence in its proactive attitude towards blockchain applications and engagements with the industry’s various stakeholders. In 2016, SARB helped establish the Intergovernmental Fintech Working Group (IFWG), a multi-agency group focused on the impact of emerging financial technologies, including blockchain. In April 2020, the IFWG and Crypto Assets Regulatory Working Group (CAR WG) released a policy proposal paper, establishing a potential framework for managing cryptocurrencies in South Africa. According to Jonathan Ovadia, founder and CEO of local cryptocurrency exchange OVEX, the
timing and proposals are very positive: “The market is much more mature than many think, and has been outrunning the law. This is an issue, because we don’t want to facilitate bad industries such as money laundering or other crimes. Formalising regulation around cryptocurrencies helps create certainty for the industry and will attract investment.”
THE COST OF CRYPTO-MINING To control supply and demand, cryptocurrencies such as Bitcoin have finite quantities that are “mined” by solving computational problems. Doing so requires heavy computer time, which means increased power usage. What are the energy and environmental costs of crypto-mining? A 2019 paper from the American Chemical Society found that crypto-
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Facing reality Such regulations are not academic. A 2019 Hootsuite survey pegged South Africa as the top cryptocurrency ownership market, and one major local exchange claimed R90-million in daily Bitcoin trades. OVEX, which focuses on volume trades, reported over R2-billion in monthly trades. Both Ovadia and the IFWG document noted the same concern: an unregulated cryptocurrency market could become an unmanaged parallel to the formal market. These regulation proposals go a long way towards eliminating that problem. The paper is currently being redrafted following a feedback period, and should gain eventual approval and ratification by the State. In general, all concerned seem happy with the proposed policies, and the paper is an example of how proactive leadership and multilateral engagement can make South Africa a sector leader.
mining’s actual carbon footprint was less than predicted, though this is contextual. For example, mining in areas relying on fossil fuels indirectly contributed much more carbon than areas that used renewable energies. Yet the lesser number is still significant: global crypto-mining in 2018 consumed a considerable 31.3 terawatt hours – slightly more than a 10th of South Africa’s annual total energy demand.
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t the start of 2009, a year after blockchain technology debuted, Bitcoin emerged as its first progeny. Just over a decade later, we are still equally excited, mystified, and intimidated by cryptocurrencies. Has cryptocurrency’s time finally arrived? It depends on where you look, explains Bernard Bussy, software engineer at fintech developer Andile Solutions: “If people want to embrace cryptocurrency fully as a financial instrument for investment then they need to be extremely cautious. Proper research is required to ensure that they understand what they are doing, and the risks involved, if they are considering putting in any significant amount of their hardearned money.”
“If people want to embrace cryptocurrency fully they need to be extremely cautious.”
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CITI LEADS THE DIGITAL BANKING CHARGE IN AFRICA Citibank is focused on providing a fully digitised and comprehensive banking solution to its clients
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global corporate banking institution, Citbank is leading the digital banking revolution in Africa. Its pioneering platforms are not only creating a more streamlined service offering for clients, but also providing them with an unprecedented level of insight into their fi nancial activities. Citibank’s focused investment in providing digitised banking solutions for clients netted the company the Global Finance 2020: Best Corporate/Institutional Digital Bank for 15 countries in Africa, and Africa’s Best Online Cash Management Services and Most Innovative Digital Bank, among numerous other accolades. And in Africa, Citibank is playing an especially prominent role in driving the continent’s push into the digital era of banking.
“Our vision is to offer banking services that are a fully digitised end-to-end experience for the client,” says Esther Chibesa, Citi’s Treasury and Trade Solutions head for sub-Saharan Africa. “This starts from the first time the client engages with Citi to accessing payment or financial solutions when they are needed and being able to make use of as many self-service tools as possible as well as making it simpler to get information instantly.”
“What we’ve done is to provide customers with the ability to see the status of their payment at any handling point.” – Esther Chibesa, Treasury and Trade Solutions head for sub-Saharan Africa, Citibank
INNOVATION AT THE FOREFRONT
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One such innovative platform is Citi Payment Insights, which provides payment status updates via a visual tracker, making payment tracking as simple as tracking a package. The solution applies to multiple payment methods such as Wire, ACH, and WorldLink. The solution can be accessed through CitiDirect BE®, CitiConnect for Files, SWIFT, and API. This is an omnichannel solution powered by the use of SWIFT gpi and Big Data, providing instant data access and control through the entire transaction cycle. “What we’ve done is to provide customers with the ability to see the status of their payment at any handling point. With Citi Payment Insights, for example, customers can see if any queries have been raised on the payment – this improves ease of mind for the beneficiary and the payer,” Chibesa explains, adding that digital wallet payments are also a key area of focus for Citi. “In Africa, there are more digital Esther Chibesa wallets than bank accounts. So we have invested heavily in this area. We are expanding our digital wallet footprint by
partnering with FinTech companies and joining market financial infrastructures that offer wallet and other alternative payment instruments so that customers can collect or pay money in any domestic currency.” “Against the backdrop of the COVID-19 crisis, clients have valued rapid responses to liquidity and working capital requests. We’re continuing to invest in extending the markets where we offer the Citi Supply Chain Finance platform to give our clients the ability to provide liquidity support to their suppliers, many of which are micro, small and medium enterprises (MSMEs). In so doing, we play a critical role in responding responsibly to and supporting smaller businesses through the crisis”.
SUPPORTING THE GREATER GOOD Citi’s operations delve deeper than the desire to simply make a profit. Among the group’s clients in Africa are organisations that are making outstanding contributions towards improving the lives of vulnerable people in rural areas of the continent. Chibesa cites the example of an organisation in East Africa, which provides affordable solar power to hundreds of thousands of people. “We are very proud to be able to provide financing support to organisations that are involved in sustainable causes. We believe that we can play an important role in helping to uplift vulnerable populations in Africa and do our part in creating true social impact.”
For more information: Megs Naidu +27 11 944 0069 Megs.naidu@citi.com www.citigroup.com @Citi www.youtube.com/citi citi citi
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CEL L UL A R
The phone of tomorrow GLENNEIS KRIEL investigates the ever-evolving ways our mobile devices are used Along with this comes a stronger focus on the development of improved phone batteries. To illustrate, Hisense’s Infinity E50 model, to be released next year, will have double the memory of the company’s current range and the battery will be fully recharged within roughly an hour. “The battery will be extended from 4 000 mAh to more than 5 000 mAh, allowing moderate users to use their phones for up to two days without needing to recharge,” Shi says.
AR-enabled wearables might be replaced by implants in the future.
The AR market, valued at R25.3-billion in 2020, is expected to grow with a compound annual growth rate of 55 per cent up until 2028, according to Quince Market Insights.
Augmented reality – worth the fuss?
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ugmented reality has seen astronomical growth since the launch of Pokémon Go in 2015, with many people now using it to “spice up” selfies. The technology, however, has far greater applications than mere gaming and self-indulgence, with Gerald Ferreira, the founder of Virtual Reality South Africa, foreseeing that it will radically change us over time. “Augmented reality is actually not as advanced as people think, but a mere overlay of the digital world onto the real world,” Ferreira says. He asserts the technology is already changing the way in which people
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In terms of design, Shi says slim phones will remain trendy with the screens increasing to a maximum of seven inches, to accommodate the increasing number of people who are using their phones to replace televisions and computers. The development of rugged phones will remain limited, with construction workers and miners being the main users. Companies would nevertheless continue innovations to deal with the fact that bigger screens break more easily. Hisense, for example, is offering a one-year free screen replacement for their H40 series to address this issue. Shi says the market for folding and bending phones will also remain limited, as the technology to build these phones renders them too expensive for your average user. The biggest transformation will come from the arrival of 5G, which has the potential to increase processing and internet speeds by up to a hundred times, according to Shi. “It will allow users to do much more with their phones than was possible up until now, turning their phones into technology centres with the ability to do everything from controlling electric appliances to running businesses and finances.”
from various sectors shop, interact and do business, by allowing them to size and fit virtual produce, and better share and visualise ideas and concepts. He points to the examples of international furniture and home accessories supplier, Ikea, which is taking this a step further with their interior design app by offering suggestions
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of other products that would go well with the consumer’s choices, or the tourism industry, which is using it to deepen travel experiences, while the education sector is livening up study material through interactive learning. “AR has the potential to turn us into super-humans, by allowing us to access information in real time. We already have the ability to create solutions that use facial recognition scanning to allow you to identify people, and then match them with information about them. “For now, however, adoption is hampered by the high cost of developing software to run these types of solutions, plus privacy issues,” Ferreira concludes.
According to Gerald Ferreira, the introductions of Apple’s ARKit and Google’s ARCore software development kits have standardised development tools, which has resulted in augmented reality now being enabled on over 500 million devices, and there now being over 2 000 AR apps available in the iOS App Store and 200-plus on Google Play.
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hones of the future will look totally different from phones today, with people probably no longer needing screened, handheld devices to make calls and connect with the internet. This reality, however, is still a good five to 10 years in the making. The current focus in the industry is on the production of phones with more memory to better accommodate those using their phones as cameras, video recorders, and for work and gaming, according to Tony Shi, mobile product line manager at Hisense.
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