Top500: South Africa's Best Managed Companies - 11th Edition

Page 62

Cryptocurrency trends in SA & Beyond With the Rand depreciating, South Africa is increasingly turning to crypto.

Susan Symondson identifies trends in the South African crypto-spere.

Bitcoin is taking over the world,

and South Africans are jumping on the bandwagon— by the millions. According to Google trend data,

South Africans are very curious about crypto. When comparing the search data, South Africa is ranked eighth

globally, and second on the African

continent behind Nigeria. And what about actual investing?

A recent study shows South Africa has the second-largest bitcoin-investing population in the world—an estimated 15 per cent, ranking ahead of the U.S. and Japan. So who is leading the charge into the crypto space? The younger

generation, striving to help offset the depreciation of the Rand while trying

to circumvent the highly concentrated traditional financial institutions with their high costs.

61

TOP500 11th Edition

MILLENNIALS AND GEN Z ARE LEADING THE PACK The world of blockchain, decentralised

The younger generations are typically the ones to bring about change.

finance, and cryptocurrency can be

“As we’ve seen for centuries, those

technology continues to advance, it can

typically the younger generation,”

those not considered “digital natives,”

anyone that we are also the

on the internet. So it is unsurprising

institutions and the way we invest.”

millennials, digital immigrants, and

BANKING THE UNBANKED

natives, Generation Z.

struggled to properly service low-

South Africa’s cryptocurrency trading

and the poor because of the high costs

age of 50, and nearly 40 per cent of

Africans do not have a bank account.

under the age of 29. That will change,

them have a market excess of 80 per

the crypto-sphere. Jonathan Ovadia,

bring banking opportunities to those

incredibly intimidating for many. As

looking to bring about change are

sometimes feel confusing and foreign to

says Ovadia. “It shouldn’t surprise

or the generation that grew up raised

ones looking to change financial

that crypto is more popular among of course, the generation of digital

Traditional financial institutions have income earners, micro-entrepreneurs

is dominated by people under the

involved. Nearly a quarter of all South

transactions are executed by people

The Big Four banks, which between

however, as people of all ages join

cent, are putting forth initiatives to

the CEO of Ovex, a Bitcoin and

previously left out.

that this trend isn’t out of the ordinary.

But it’s not enough.

cryptocurrency exchange, explains


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LEADERSHIP, THE MARKETS AND RECOVERING FROM COVID

3min
pages 54-55

GIVE YOURSELF THE PERMISSION TO SUCCEED!

3min
pages 48-49

Lesedi Empowering Africa

3min
pages 108-109

HOW DO WE RANK THE TOP 500?

2min
pages 140-141

The power of Social Media

7min
pages 104-106

Influencer Marketing: Worth up to $15-BILLION BY 2022

3min
pages 102-103

So Who is Lillian Barnard?

21min
pages 12-15, 17-23

Five of the best South African Hotel Pools

2min
pages 128-130

Pioneering Design

8min
pages 120-127

4IR - The future of mining in South Africa

11min
pages 76-79

Cover Story: Interview with Lillian Barnard

3min
pages 12-15, 17-23

Rising Tech Stars in SA

7min
pages 110-113

The Power Behind Creating Digital Content

6min
pages 108-109

Worth up to $15-BILLION BY 2022

3min
pages 100-101

3D PRINTING: is it time to invest?

7min
pages 96-98

THE IMPORTANCE OF B-BBEE: Diversity is being invited to the party, inclusion is being asked to dance

8min
pages 91-94

Building a hopeful future

4min
pages 80-81

Exploring Kruger Shalati: The Train on the Bridge.

4min
pages 74-75

Tourism & Travel

3min
pages 72-73

TRANSPORT TECH TRENDS SHAPING SA

5min
pages 69-71

Cryptocurrency trends in SA & Beyond

5min
pages 62-63

CSI Impact Across SA

9min
pages 56-59

GOOD GOVERNANCE: How important is sound financial reporting for your business health?

2min
page 43

Tracking SA’s Marine Sector

4min
pages 34-35

SA’s Leading E-Commerce Retailers

4min
pages 32-33

How digital transformation enables the financial services industry in emerging markets

10min
pages 28-31

SUSTAINABILITY: Why great companies are investing in it in a big way

8min
pages 24-27
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