Ruan Bothma’s Post

[Nigeria's Financial Landscape and the Value of CFI Courses] Nigeria's financial landscape is dynamic, characterized by a robust banking sector and a growing economy. Gaining . . . https://lnkd.in/dZUFtJ5w

📉 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐌𝐚𝐣𝐨𝐫 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐟𝐨𝐫 𝐒𝐌𝐌𝐄𝐬 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐀𝐟𝐫𝐢𝐜𝐚 📉 Cash flow management is a critical issue for small and medium enterprises (SMMEs) in South Africa. Many businesses struggle with maintaining a healthy cash flow due to various challenges: 🔹 𝐋𝐚𝐭𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬: 68% of SMMEs report experiencing delays in receiving payments from clients, with an average payment delay of 90 days. 🔹 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠: Only 38% of SMMEs have access to traditional bank financing, often facing high rejection rates due to lack of collateral and poor credit history. 🔹 𝐇𝐢𝐠𝐡 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐂𝐫𝐞𝐝𝐢𝐭: Interest rates for SMME loans can be as high as 28%, which erodes profit margins and stifles growth. 🔹 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐈𝐬𝐬𝐮𝐞𝐬: 72% of SMMEs struggle with effective cash flow management, often due to lack of financial literacy and inadequate tools. 🔹 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐈𝐧𝐬𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲: 45% of SMMEs cite economic instability as a major challenge, as market volatility and economic downturns disproportionately affect small businesses. 📊 Understanding these challenges is the first step towards finding effective solutions. Over the next 30 days, we'll dive deeper into these issues and explore how invoice financing can help overcome them. 👉 Visit www.cash-flow.systems for solutions to improve your business's cash flow!

Understand the major cash flow challenges faced by SMMEs in South Africa. Discover key issues such as late payments, limited access to financing, high credit costs, cash flow management struggles, and economic instability. Learn how invoice financing can provide effective solutions. Visit www.cash-flow.systems for more information.

Understand the major cash flow challenges faced by SMMEs in South Africa. Discover key issues such as late payments, limited access to financing, high credit costs, cash flow management struggles, and economic instability. Learn how invoice financing can provide effective solutions. Visit www.cash-flow.systems for more information.

A recent BusinessTech article by Malcolm Libera highlights a critical issue: many South Africans earning over R25,000 monthly struggle to build emergency cash savings. According to Standard Bank data, over half of entry-level private banking clients have less than one month's salary saved for emergencies, with many resorting to debt and hindering long-term wealth building. 🔹 Economic Challenges: High cost of living and tough economic conditions are major factors. 🔹 Savings vs. Debt: Lack of savings forces reliance on expensive short-term debt. 🔹 Income vs. Savings: Higher income doesn't always equate to better savings habits. Why Consult a Financial Advisor? Expert Guidance: Tailored advice on saving and budgeting. Goal Setting: Help prioritize emergency savings. Wealth Building: Create a robust financial plan for emergencies and long-term goals. Netsure offers expert financial advisory services to help you achieve financial stability and build wealth. Start planning your financial future today! #FinancialAdvice #EmergencySavings #WealthBuilding #Netsure #FinancialPlanning

The Old Mutual Limited Group has introduced the Old Mutual Business Roundtable, a platform designed to promote collaboration and growth among SMEs in East Africa. The Roundtable will also focus on addressing the challenges SMEs face, such as Despite the wide range of financial service providers in the country, including banks, insurance companies, and mobile services, SMEs often struggle to effectively navigate and utilize these resources. The Old Mutual Financial Services Monitor (OMFSM) reveals that only 13% of business owners have a financial advisor, while 43% are uncertain about where to seek financial support. Consequently, 20% of business owners are grappling with debt, and 46% are experiencing significant financial stress. Click on the link to read more https://lnkd.in/dB25rha7 #growth #business #finance

Embedded finance in Africa is a really interesting topic that we took a bit of a deep dive into recently. My long read published today is part of out Future of Embedded Finance report, which we worked on with Kora, this one focuses on the regulation. If you haven't checked it out yet I highly recommend going and looking at the whole report, you can find it here: https://lnkd.in/eDAv7gi3 Personally I'd love to see more interest in this area because there's a lot going on in African financial services! https://lnkd.in/ePyBbMKJ

Decoding Credit: Your Financial Health Indicator In the world of finance, your credit score plays a pivotal role, acting as a key indicator of your financial health. Understanding credit, how to build and maintain good credit, and the implications of your credit report are essential financial literacy skills. This is especially true in South Africa, where your credit score can influence loan eligibility, interest rates, and even employment opportunities. Let's dive into the complexities of credit and its profound impact on your financial journey. Follow me for more expert financial advice, and Hit SAVE to keep this for later. #CreditWisdom #FinancialLiteracy #AdviceByCoey #Finance #SouthAfrica

GTR East Africa 2024 Nairobi On May 21-22nd, The Access Bank UK Ltd attended the GTR East Africa 2024 conference held in Nairobi, Kenya. The Bank was represented by Julie Soyinka-Sonuga, Deputy Head of Commercial Banking and Desiree Cline-Thomas, Deputy Head of Trade Finance. The Bank has a rich history of engagement and sponsorship with GTR events globally, underscoring its dedication to supporting trade finance across emerging markets. This year’s participation in GTR East Africa 2024 marks another milestone in this enduring partnership. The premier event featured over 50 senior speakers from various sectors and brought together key players in the trade finance industry, providing a platform for insightful discussions, networking, and strategic partnerships. GTR East Africa is renowned for being one of the most significant trade finance events in the region. Organised by Global Trade Review (GTR), the conference serves as a vital platform for businesses, financiers, and policymakers to discuss the latest trends, challenges, and opportunities in East Africa's trade finance landscape. The conference highlighted six major topics that are crucial for the future of trade finance in East Africa: maximising hard currency liquidity, boosting food security, alternative infrastructure financing sources, digital supply chain finance, industry outlook: energy sector and climate financing opportunities. The Access Bank UK Ltd representatives in attendance gained valuable insights from these discussions, which will be instrumental in shaping the Bank's future initiatives and strategies to better serve its clients and support sustainable economic growth in the region.

National Bank of Angola Sets Ambitious Goals for Financial Inclusion by 2028 The National Bank of Angola (BNA) has set ambitious targets for achieving a 75 percent rate of financial inclusion by 2028, as outlined in its latest bimonthly Financial Stability report released in late June. According to the report, the BNA has prioritized several initiatives aimed at bolstering financial inclusion, with microcredit and other non-bank financial instruments playing a pivotal role. Microcredit, governed by current legislation such as Law no. 14/21, is defined as small-value loans... Read more on the link below https://lnkd.in/g4JBQy4v