Today’s Top Entrepreneurship And Business Stories (21 November)
Internet Usage And Online Shopping On The Rise In SA – Study
Internet usage is on the rise and online shopping is growing in popularity. This is according to the results of Google SA’s 2017 Connected Consumer Study, conducted by research group Kantar TNS.
This year’s study researched how online behaviour has changed, compared TV and online video consumption habits, how mobile usage has evolved over time, and, finally, what the future of technology holds.
The research shows 65% of 16+ South Africans are now online. This is up from 63% in 2016. South Africa is slightly ahead of the pack, when you compare with Nigeria, where internet usage is at 63% and in Kenya, at 53%.
Online shopping has become a huge opportunity and is in itself a driver for internet usage. 2.5m South Africans shop online. This is set to continue to grow, according to the report.
The research also found that internet consumption is a mobile affair in South Africa, with 69% of polled consumers saying they more often access the internet on a mobile device, which is more than double the global rate of 30%. (via Bizcommunity)
Diageo SA Launches Drive To Boost Economic Growth, Create Jobs
The South African subsidiary of Diageo, the world’s leading premium drinks producer, said on Tuesday it had established a trust to stimulate the economies of local communities and create much needed jobs.
Black South Africans, still lagging behind economically as a legacy of the country’s racially divided past, have felt the brunt of a current downturn manifesting itself in an unemployment rate of nearly 28 percent.
“South Africa needs to create a new generation of black entrepreneurs who will provide the growth and opportunities to bring more black people into the mainstream economy,” Diageo Empowerment Trust SA manager, Sinethemba Mafanya, said in a statement.
“We have set up the trust not only to get entrepreneurs into the economy, but also to maximise their chances of success.”
He said the first beneficiaries would share R10 million to boost their businesses and also be supported through mentorship.
The trust was also helping communities become sorghum farmers, with producers already identified in the Eastern Cape province.
“Sorghum is a raw material for Diageo, so we are in a position to provide a market for these farmers,” Mafanya said. The trust intended to create 300 jobs in the agriculture sector, he added. (via African News Agency)
African Agri Investment Indaba Kicks Off In Cape Town
The African Agri Investment Indaba 2017, with the stated aim of providing a gateway to investment opportunities in Africa’s agri sector, began at the Cape Town International Convention Centre on Monday.
The three-day indaba, sponsored by the Western Cape Investment and Trade Promotion Agency (Wesgro) and the Western Cape provincial government, welcomed leaders in the agricultural economy from around the world, with speakers and representatives from 30 countries.
Speaking at the event, Wesgro CEO Tim Harris said agri-processing is a key strategic priority of the Western Cape Government’s Project Khulisa, while Wesgro houses the Agribusiness Investment Unit, supported by the provincial Department of Agriculture.
“Our trade team also works hard to assist exporters in the agricultural sector access international markets,” Harris said. “In the 2016/17 financial year, Wesgro’s AgriBusiness Investment Unit helped facilitate over R700 million of investment in the sector. I am proud to say that we have already helped secure committed investments amounting to R566m in the current financial year, in challenging economic conditions.”
According to Wesgro, between April and June, the agricultural sector in the Cape supported 180,000 jobs. The Western Cape, as per the recent stats from StatisticsSA, is the largest employer among all provinces in the agricultural sector, accounting for 19.63% of the sector.
All in all, the Western Cape’s agricultural sector was valued at R11.3 billion in 2016, with the province’s food sector valued at R10,6 billion. (via African News Agency)
First Commercial Solar Insurance Launched In SA
South African firms All Power Systems and Synthesis said on Monday they had launched the country’s first commercial solar savings insurance to protect companies from risks associated with adverse weather and system failure.
In a statement, the companies said firms using rooftop solar energy faced the risk of their panels being damaged by hail or developing a system fault, among other hazards.
All Power Systems and Synthesis Power Holdings had partnered with a global reinsurer to develop a unique solar savings insurance product to underwrite savings guarantees for companies, CEO Jay Naidoo said.
“With All Power, we install solar rooftop systems for commercial clients who want to own their own sustainable electricity supplies,” Naidoo said.
“With Synthesis, we offer a complete financial solution with zero capital input from the client, and since Synthesis effectively owns these projects, we agree [on] a guaranteed monthly fee for electricity, with zero risk.”
Synthesis is a partnership between All Power Systems, an energy service company, and Fusion Energy, a clean energy concern based in Stellenbosch. (Via African News Agency)