The Retail sector is important to South Africa

The South African Retail sector is one of South Africa’s most important markets. Retail businesses are vital to the South African economy as they provide employment to millions of people across the country. Its estimated that about 79% of small businesses are involved in some form of retail activity. 

How currency exchange affects South African Retail businesses

90% of South Africa’s retail products are imported. For years South African Retailers have struggled to control local costs due to currency fluctuations and a weak exchange rate.

In reality, most South African retailers don’t have the skills, experience or time to effectively monitor and manage currency exposure. They also aren’t big enough to negotiate better exchange rates with the bank which makes it difficult for them to compete with big retail chains. 

What we can offer your business

Contact us to see how we can help you manage your foreign exchange and international payments

Reduce your international payment costs with FX Paymaster 

The Rand is an extremely volatile currency, this makes it difficult for South African retailers to control import costs. With the right currency strategy and platform, South African retail businesses can reduce their foreign exchange costs significantly.