wiGroup South Africa: Building A Fintech Empire in Electronic Payments
“We are definitely expanding into Africa.”
imported 2024-03-17 17:43:07
“We have done a lot of work in repositioning their business models and specifically with business model innovation. It is not about what product or service that you are selling, it is about how you position it and how you create the business model around it that gets it to market.”
“If you look at South Africa, many South African companies are sitting on piles of cash and they aren’t investing it. The question is why? You have to unlock their confidence in the country to invest that money.”
Productions look to capture South African scenery, exchange rates and rebates.
The Islamic finance industry has evolved in the direction of complying with the conventional system. Islamic finance industry has to rethink its philosophy. The latest trend in the industry is the emergence of innovations from Islamic institutions that are derived from the principals of the Islamic finance philosophy, not from the motive of providing solutions or mimicking the conventional finance systems.
With over 27 million consumers and a number of global enterprises, Saudi Arabia is the largest ICT market by far in the Middle East. For example, the Saudi telecoms and information technology industry represents about 51 to 55% of the total Middle Eastern market.
Our focus in investment will definitely be on 4G. It will take almost two years of testing for 5G to see the light. For us, LTE will be our main investment.
I think this is a transit period and that probably over the next 6 to 9 months it will recover again. However I see big potential in the African and North African market. This will be our focus for next year.
We have two issues here. As you said, there are many new laws, but there is also development. There has been substantial development of the e-platforms in Saudi Arabia for interacting with the government and that has substantially eased the burden when it comes to operations. Most of the materials that we deal with here in Saudi Arabia are available locally.
The market for IT services grew at about 12 to 13%.