Sim Tshabalala tells SA to get ready for the next revolution
SA needed to ready itself for the fourth industrial revolution if it is to stay competitive, Standard Bank CEO Sim Tshabalala said on Thursday. "In a country like SA, for us to be competitive we have to be able to use [such advancements] as Big Data," Tshabalala said. "What do business, labour, civil society and government do to make SA competitive in this fourth industrial revolution?" Tshabalala’s comments came after the release of the bank’s results for the year to December 2017. These showed that 1.6-billion transactions in the bank’s South African personal and business bank sector came from digital channels – mostly mobile devices — compared with just 30-million from face-to-face interactions. In the Africa Regions, the bank’s operations outside SA, 209-million transactions were conducted through digital channels compared with 39-million from personal interactions. This helped deliver R30.4bn in income to the transactional products line, the personal and business bank’s largest...
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