Category: Economy
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Not all fun and games: Online sports betting boosts gambling revenues to record highs
South Africa’s gambling industry generated R47.2-billion in revenue in the last financial year, the highest amount ever recorded. This record growth is being driven largely by online betting, which accounted for more than half the revenue, according to the National Gambling Board’s most recent annual report. South Africans placed R418-billion worth of bets last year,…
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Famine looms in Southern Africa: El Niño-driven drought has caused maize shortages
In Southern Africa, maize makes up about 20% of the average diet, consumed as pap, sadza and nshima. The recent decline in production across the region because of the dry and hot weather caused by El Niño is having devastating implications for the people who live in the region. Three countries have already declared a…
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How South Africans are changing their banking habits
South Africans are moving away from traditional banking halls and physical cards to banking on smart devices and cellphones. Standard Bank clients spent R9.3-billion using digital wallets in the past year. It sounds incredible, until you compare it with FNB clients, who spent R31-billion using their smart devices in the six months between July and…