Brad Gillis and Rishi Pillay- BankServAfrica Cross-border payment, clearing and settlement systems in the SADC are paramount in enabling the safe and efficient circulation of money, thereby facilitating regional economic development. Sound SADC payment, clearing and settlement systems will enhance regional financial stability by providing, among other things, appropriate SADC payment system risk-reduction measures. The general consensus within the SADC is that the credit-push payment principle is the preferred payment method and electronic instruments are preferred to paper-based instruments. Cross-border remittance payments are defined as person-to-person payments from senders in one country to recipients in another. In the 2010 Remittance Prices Worldwide Database, the World Bank identified 29 countries as major remittance sending countries. South Africa is the major remittance sending country in the SADC. Through the proposed anti-moneylaundering and exchange control relaxation by the South African Financial Intelligence Centre and the South African Financial Surveillance Authority, remittances flowing through informal channels can be brought under formal regulatory oversight. To register, complete the registration form on the brochure or visit the TCI website and electronically complete it and submit, alternatively fax it to us on 086 582 2981, or email it to firstname.lastname@example.org. However, you could please contact Naison Chilenge, Project Manager at TCI on 011 803 1553 or alternatively email email@example.com Exhibition and sponsoring opportunities are available. Please contact Linda Kruger firstname.lastname@example.org Author: Sian Wirth from Trade Conferences International. More Info link: http://www.tci-sa.co.za/wp-content/uploads/2014/05/Registration-form-crossborder.pdf CLICK HERE to submit your press release to MyPR.co.za. . . .
“Banking in Africa is still at a nascent stage as we are talking about a continent that still has around 70 - 80% of unbanked population and has tremendous potential to grow. The approach to retail banking in Africa is very different to what one can see in matured markets as the continent is vast and poses a real challenge to traditional distribution models based on branch networks. Technology and new distribution models are playing a vital role in how banking is being brought to the masses in Africa. Indirect distribution models relying on agency, retail and mobile networks seem to be more popular in driving penetration and reach across the 54 African states which are all very different to one another. While some mature markets are still debating these approaches, the actual results on the field in Africa is a tangible proof of their effectiveness in bridging the gap for the unbanked.” - Ashraf Esmael , Chief Executive Officer - Bramer Bank Ashraf Esmael was one of the key speakers for the 5th Annual Retail Banking Africa Forum, which was held in Johannesburg, last June. The success of the past edition reflected on the region's retail bankers to rethink their retail strategy in order to give a better customer experience, improved financial services and an alternate approach to boost consumer banking growth. According to the statistics, 70% of Africa's population is unbanked which means they don't have bank accounts and proper access to finance. In South Africa, retail banking specifically sees immense potential because of economic prosperity and the consequent increase in purchasing power, changing consumer demographics, increasing literacy levels, higher adaptability to technology, and growing consumerism. The retail banking services in Africa has gained pace in the recent years. Africa is determined as a destination with opportunities due to the large scale potential the region has, particularly in providing financial services to the mass population. . . .
• Gavin Horne, new Broker Relationship Manager of Infiniti • Gavin focuses on growing New Business and will sort to release a new Infiniti Insurance Commercial product Infiniti Insurance Limited is pleased to announce the appointment of Gavin Horne in the position of Broker Relationship Manager with a special focus on New Business. Gavin, formally of Aon Insurance Brokers has over 30 years of short-term experience holding a number of senior management positions both at Commercial Union and at Mutual and Federal. Gavin, an Associate of the Chartered Insurance Institute of London, as well as the Insurance Institute of South Africa, is well known and respected in the broker market. He says that, after his recent spell as a broker, he is looking forward to re-engaging as an insurer with the many brokers with whom he still has close relationships. Gavin is a keen outdoor sportsman having participated in two world championship sailing regattas, and holds numerous South African yacht racing championship titles. Keeping fit is important to him and, when time allows, he participates in mountain bike events. On a more sedentary note, he enjoys time in the bush with his family. Sharon Paterson, CEO of Infiniti Insurance says: “We are proud to have employed someone of Gavin’s calibre and diverse experience, and know that he will be a valuable asset to our team. In addition to his Business Development role, he will be focussing on an exciting new Commercial product for us. So brokers watch this space ….” Infiniti Insurance Boiler plate Infiniti Insurance is A-(ZA) GCR rated and short-term insurer focused on long-term partnerships with specialist insurance entrepreneurs and independent brokers. Infiniti commenced business in 2005 with a limited licence enabling it to write motor, miscellaneous and personal accident business, and then in 2007 applied for and was granted a full license to write all classes of business. Infiniti positions itself as a specialist niched . . .
With the residential property market reflecting positive market sentiment, Manja Kritzinger, CEO of Realtors International, says that many estate agents and bond originators or home finance experts are in a much better position today to help buyers manage affordability than ever before. “Homebuyers are—rightly so – more prudent today. A bank’s lending criteria is one thing, but homebuyers should have a finer understanding of their personal cash flows, circumstances and views of the future. For example, more homebuyers are having to make a choice between buying a home or up scaling their vehicle. It is also makes sense to base affordability calculations on an interest rate 3% higher than the rate offered,” says Manja. Kritzinger urges homebuyers to get a prequalified loan certificate and credit report from home finance experts who will conduct a full income and expenditure assessment and run a credit bureau enquiry to ascertain the buyers risk profile. “Homebuyers should embrace the opportunity to understand their credit position as this puts them in charge of the situation when applying for home finance. One scenario is having a clear credit record, but insufficient net surplus income. This is not the end of the world – you’d then either look for a home with a reduced purchase price or look to consolidate or restructure debt to secure a positive net surplus income,” says Kritzinger. Another scenario is where a homebuyer has a positive net surplus income but a poor credit record. In this instance, the answer could involve some form of credit rehabilitation before buying. Kritzinger says that structuring of debt by specialists — especially unsecured debt such as credit cards, retail cards and personal loans — can yield significant monthly savings and can prove the difference between getting home finance at all and buying that dream home without draining your cash flow. “If home finance experts have a clear understanding of the homebuyer’s financial . . .
Mobile Money Africa will gather more than 400 industry experts Customer adoption is the single biggest inhibitor of the widespread growth of mobile financial services, especially in rural communities, and will be discussed in depth during an expert panel discussion at the sixth annual Mobile Money & Digital Payments Africa which is taking place in Johannesburg from 21-22 May. Lack of adoption complex issue “There are multifaceted reasons behind customers’ unwillingness to adopt a new service” says Emma Pearce, programme director of the event. She adds: “the lack of customer adoption is a complex issue. In my opinion, the lack of financial education and product design are two of the biggest barriers to adoption in Africa, though by no means are they the only ones.” She says the most successful strategies by companies to overcome some of these challenges were “schemes that really evolved to meet the needs of their customers through conducting qualitative research with end-users and spending time in communities teaching people not only how to use the product but also its security features and benefits. This is what keeps users on the platform; it makes sense to them.” Consumers must be educated Nnamdi Oranye, a partner in Indian Atlantic and speaker at Mobile Money & Digital Payments Africa, agrees that the single biggest factor that will drive mobile payments to critical mass is education. He explains: “the more consumers are educated about the benefits, security and ease of use of mobile payments, the more consumers would become comfortable with it. I think there has to be a focus on educating consumers on mobile payments.” “Making mobile payment infrastructure available to consumers is not enough” says Sadiq Malik, Principal Consultant, Broadband Gurus Network, and panel discussion moderator at the event. He adds: “to attract more frequent and valuable customers in the long run and obtain valuable information about their location and . . .
It has always been challenging for banks to adopt new technology and provide the same level of service to their customers. With the growth of ISO and Six Sigma, there is a need for banks to re-evaluate their non value adding entities into more fruitful processes. This is the right time to change the global perspective of banks which will make them more competitive in the current economic scenario. Operational excellence provides a direct channel to improving shareholder value, where thoughts and actions are perfectly positioned to deliver transformational results. The third edition of OPEX in Financial Services- Africa, to be held on 19-20 August 2014, Hyatt Regency - Johannesburg, will feature key strategists within the banking and financial community across Africa who will brainstorm new ideas in order to become world class competitors. Some of the key benefits of launching operational excellence in financial institutes are eliminating repetitive work, significantly improving the overall accuracies, innovating processes and most importantly improving levels of customer services. The conference will also address the future challenges in the banking sector related to, Ways to drive Operational Excellence for Sustainable Competitive Advantage Next level of Operational Excellence in the banking business model Hindrances in Operational Excellence in the Financial Services sector Knowledge-sharing presentation, entitled “Business Process Excellence in Financial Services”, will be delivered by Wonder Nyabereka, Chief Operating Officer at Barclays Bank (Zimbabwe). Pete Novat, Chief Information and Operating Officer of National Microfinance Bank (Tanzania) will be elaborating on “The CIO perspective for striving for operational excellence.” In a joint presentation from Nedbank (South Africa), participants will be enlightened by Jean Jordaan - Head of Operations as he explains the Importance of changing gears – From Operational Risk to Operational . . .
In order to grow globally African, and in particular Southern African banks, focusing on transaction banking will open up new avenues of revenue generation. Africa has become increasingly integrated into the global financial system. To succeed locally continuous innovation is required for seamless cross-border transactions and cash management, bearing in mind the various regulations, risks, the practicalities of moving cash and varying exchange control rules. Attending the Global Transaction Banking Conference, 9-10 July 2014 will answer questions on how the latest innovations, technologies and strategies are going to rapidly transform the local transaction banking environment. Key industry leaders like Nicky Weimar, Senior Economist at Nedbank; Rodger Dunn, Head: Transaction Banking at Sasfin Bank; Anthony van Eden, Chief Operating Officer at Strate; Nerina Visser, Head of Beta and ETF’s at Nedbank Capital; Brad Gillis, Chief Executive Officer: Regulated Markets at Bankserv Africa; David Robinson, Head: Collection Products – Transactional Products and Services at Standard Bank; Tertius Vermeulen, Chief Executive Officer at Trustlink (Swift SA Business Partner); Jean Groenewaldt, Senior Manager: Financial Surveillance at SA Reserve Bank, Stephen Meintjes, Head: Traditional Trade Products at Standard Bank; Josephat Mutepfa, Senior Executive: National Payments Systems at Reserve Bank of Zimbabwe and Charles Guise-Brown, Chief Executive Officer at Qualica Technologies and many more, are just some of the top class professionals who will be addressing the conference. Register to attend the Global Transaction Banking Conference 2014 to gain insight on how to optimise current products and services in the transaction banking environment, and gain knowledge to respond to corporate requirements the FIRST time round. Sebastian Gazi, Project Manager at Trade Conferences International said, “A lack of regional monetary zones until recently has made payments processing . . .
This month saw credit amnesty come into effect, which will essentially ensure that certain negative financial information is removed from consumer’s credit records at credit bureaus. The aim of the amnesty is to reintroduce those consumers who have previously been unable to apply for credit due to negative listings, back into the market. While this is welcome news for those consumers as it provides them with the opportunity to once again access credit, it could come at a much higher cost. This is according to Adrian Goslett, CEO of RE/MAX of Southern Africa. “Previously banks would base much of their credit rating models on a client’s payment history, which will be far less detailed without the information provided by credit bureaus. Without access to this potential adverse information on a consumer’s payment profile, it will be far harder for financial institutions to determine their risk or the applicants’ ability to repay their credit. As such they will have to adjust their approach and methods of distinguishing between high and low risk lenders,” says Goslett. “This could result in the opposite effect that the credit amnesty was initially introduced to achieve in that if banks feel that they are acting within a higher risk environment, they will be far more cautious in reviewing applications, and will therefore be tightening up their lending criteria and could in fact grant less credit.” Bank representatives have gone on record saying that that the removal of the adverse credit records of consumers introduced unknown risk and agreed that in light of this, banks have to tighten their approach to risk. The assumption that the credit amnesty will make it easier to obtain credit is not entirely true as many credit providers will implement a far stricter credit vetting processes. Goslett notes that if the credit amnesty results in fewer loans being granted, coupled with the fact that consumers are already facing other external financial pressures such as the . . .
Farming and agricultural enterprises derive invaluable benefits from close monitoring of weather patterns and regular forecasts. Weather data is vital to effective planning and correct calculation of agricultural profits. BVG provides the latest real time weather data for South Africa. The reports cover rain, wind, hail, humidity and air pressure among other factors. Through ongoing research and development, plus a constant improving of systems, BVG ensures that farmers are supplied with the latest weather data. The effect of weather data gathering and dissemination filters through to impact on other services offered by BVG including commodity trading South Africa, hedging South Africa, as well as all the shares traded on the JSE. There have been notable advances in weather data collection and the general climate science. Weather stations can now constantly churn out weather updates through newsroom reports on a monthly, weekly, daily and even hourly basis. These reports can also be downloaded on the BVG site. Such developments enable us to tailor climate and weather information to the specific needs of the users. BVG also offers hedging funds management services through its BVG Hedge Funds management company. This fund specialises in trading equity and agricultural derivatives on the JSE and aims to achieve optimal returns by investing in listed derivatives. Investors are called upon to make use of our SAFFEX online trading tool. Through this tool we give you direct market access to the whole of the South African Futures Exchange (SAFEX) as well as information on other products and shares traded on the JSE. BVG Commodities (Pty) Ltd Pretoria, South Africa specializes in trading agricultural and financial futures. Our team of professionals will provide assistance with Hedge Fund Management, Energy derivatives and the most up-to-date weather service. We continually develop new programs and services to ensure that our clients derive maximum benefits from our . . .
The range of products and services that is offered via the mobile channel is continuously expanding as industry pioneers in this sector forge ahead with new innovations. Many of the experts who will address the sixth annual Mobile Money & Digital Payments Africa in Johannesburg from 21-22 May, agree that the ability to provide financial services to the previously unbanked remains a key priority. Financial inclusion a measurable objective According to Kim Dancey, Regulatory Head and Specialist Advisor: Digital and Alternative Banking at South Africa’s FNB: “there has been a very perceptible acceptance of financial inclusion as a measurable policy objective by regulators and acceptance as a business imperative by service providers.” She continues: “the challenge is to move mobile money from being a payment instrument to an offering that is used as a money management tool.” She is excited about the bank’s eWallet, “particularly in the African operations, which showed a 119% year-on-year increase in the last financial year.” The total number of eWallets on the continent reached 2.5 million, an 84% increase with Namibia and Botswana showing a very high customer acceptance and take-up. Microfinance + MMT = fantastic opportunity Also focusing on expanding the financial services in the mobile money sphere is the Musoni microfinance system that is integrated with leading East African MMT services. Last year, Musoni Kenya, the first 100% mobile microfinance organisation, reached the milestone of having processed 1-million M-PESA transactions through its system. Says Musoni Services CEO Cameron Goldie-Scott: “linking microfinance and mobile money provides a fantastic opportunity for both MFIs and mobile money providers. We now work with six MFIs across Kenya, Uganda and Tanzania, and are looking to expand into new markets as well as continue adding new payment channels and MMT providers.” In spite of the potential says Goldie-Scott, many MFIs have been . . .