With 50% of South Africa's urban population living in townships, the ecosystem supporting these communities warrants significantly greater focus from the banking sector. We refer to this opportunity as the "Unseen Economy"
The franchising sector has shown steady growth over the past 4 years, in a tough economy - from contributing an estimated 9.7% to the country's GDP in 2014 to its recent figure of more than 15%, according to the Franchising Association South Africa ("FASA") 2018 survey. And this trend is expected to continue.
From an investment perspective, the market reacted by pushing bond yields higher and the currency weaker. A downgraded economic growth outlook would always mean that revenue estimates would be reduced.
Africa's first hosting of the largest telecomms conference in the world was an important opportunity for the industry to showcase South Africa to the 91 attending countries.
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