While there is no doubt that the ongoing pandemic has changes the way we approach business, it presents a overlooked opportunities.
As the country tries to balance out the effect's of the pandemic and the maintenance of an economic outlook, consumers and investors are also rethinking their approach to the way they spend their hard earned cash.
"Never Let A Good Crisis Go to Waste," - Rahm Emanuel.
Mid June say a resurgence of interest in South African as an investment destination.
"The country is now paying less to borrow in the local-currency than at any time in the five years before Moody’s Investors Service removed its last investment-level rating on March 27. The rand has rebounded, risk premia have returned to pre-downgrade levels, and foreign investors are streaming back into the country’s bond market after a record selloff in the first five months of the year." says Robert Brand in an article written on June 12th for Fin24.
A weaker dollar due to the pandemic has opened the minds of investors to new approaches, as if this 'New Normal' has completely ignored the recent downgrade. This has the potential to translate into some much needed local consumer confidence, keeping the spark of new business alive. All one needs to do now is to find a way to capitalize on this new mindset. Enter FinTech.
FinTech has proved to be a bridge to a new customer service approach. Although social-distancing, consumers are exploring new ways of interaction and becoming more connected than ever before.
Where there is a connection, there is the opportunity for business.