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5 Great Tips to Help you Manage your Money

Managing your finances doesn’t have to be complex, and there are a number of reasons on why you would want to do this to begin with. Reasons include: saving for a mortgage, buying your dream car, going on that holiday you’ve always planned, planning for retirement or even just having assurance that the funds are there should you run into an emergency.

The earlier you start the better, and it’s never too late. Or as the saying goes ‘there’s no time like the present’. This guide will help you build healthy money habits and get you one step closer to reaching your financial goals. One easy way to increase your income is by finding clever ways to reduce your expenditure, for example you could compare energy and a whole range of other products using a price comparison website such as Utility Saving Expert. They could help you save hundreds of pounds year in year out.

 

Know where to prioritise

Before you even begin, you need to clearly understand what your priorities are. If you’re unable to prioritise, this could become excruciatingly difficult for some.

Align your goals with matters to you most in life. Are you saving for something in the future, or do you want to finally rid yourself of personal loans and credit card debt? Everyone will have their own priorities based on their current circumstances.

By aligning your priorities with the most important aspects of your life, you can start to see what you really value. This could be from taking care of your personal health, international travel, or simply just entertainment. Once you have this knowledge, you can reduce or even remove completely those categories which are not essential to your lifestyle.

 

Understand your monthly income

To manage your money, you will need to know exactly how much your monthly household income is. If you’re a salaried employee, this is easier to calculate. If you’re self-employed or are a business owner, you will have to estimate this based on figures from previous financial years.

If you receive any income from other sources such as investments, pensions or benefits, add this to the above figures. A spreadsheet is simple to create and can easily help you keep track of things.

 

Understand what your money is being spent on

To build a complete and true financial picture, you’ll have to carefully think about your spending habits. To help you with this, you’ll need to gather all of your credit card and bank statements. These will help account for most of your expenses. However, if you receive any income through cash, or digital platforms such as PayPal or Venmo, you’ll need to include these too.

You can use the spreadsheet that you created earlier for your income, or go back to basics with pen and paper. We recommend the former method as you can easily update it and it will help you do the calculations automatically with little room for error.

It may be useful to categorise your expenses into things that are essential and non-essential. Examples include household bills, travel costs and money towards repaying debt. This will then enable you to quickly get a snapshot of where your money is really going. You may be surprised by how much you’re spending each month on eating out.

 

Factor in emergencies

OK, so you now fully understand what your monthly income and expenditure looks like. You’ll now need to set aside an amount for life’s unexpected. Having an emergency fund can help you in times when you need it most. Many publications advise that you should have at least six months’ worth of savings to help you through the ‘rainy days’.

You or your partner may lose your job, your car may experience a serious breakdown, or you may have to pay for private medical treatment which isn’t covered by the NHS. There’s a number of things that could financially affect you at different times of your life. An emergency fund will give you some reassurance that you’re able to get through this challenge. To build up this pot, you’ll have to slowly add to it and make sure you only access this if it is an absolute emergency. Avoid being tempted to make large purchases that aren’t absolutely essential as these can wait.

 

Save as early as possible

Regardless of what your current financial goals look like. The sooner you start to save, the less time it will take to get there. Many people look for banks that offer specific savings accounts, or private pensions that they can start investing money into. Even if you’re more than 20 years away from retirement, you still need to think about long term saving goals. The great thing about saving is there is no set rule on how much you should be putting away. More is better, but even as little as £50 per month can go a long way if you stay committed over a number of years.

To summarise, the best way to manage your money is to understand what you earn and where your spending habits lie. You then need to prioritise what’s important to you after paying for all the unavoidable essentials. Creating a plan and adhering to it strictly will be the difference between success and failure. You may come across life’s unexpected road bumps, but having an emergency fund ready will help you deal with this. We hope you have found these tips useful and wish you every success in realising your financial goals.

When Should I Contact a Personal Injury Lawyer After an Accident?

Things are bad enough after a car accident. 

You’re injured through no fault of your own, you need hospital care and time off work, and your stress levels are through the roof. Car accidents are caused by another motorist’s failure to adhere to traffic laws. When an accident happens and someone is involved, certain procedures must be followed for insurance payments to be made. Filing a claim with a professional services law firm specializing in this kind of relief can streamline the process, as well as increase their chances of receiving funds from insurance companies. You can navigate to https://www.moseleycollins.com/ to get a free consultation and legal guide for your claim.

To make matters worse, you’re confused by the information that’s coming your way from friends and relatives. 

Some are telling you to hire a personal injury lawyer immediately and others are saying that you don’t need a lawyer – the insurance company will sort everything out.

What’s the truth?

When should you contact a personal injury lawyer after an event of an accident – if at all?

If there are no injuries

Say you’re lucky. There’s been an accident but the only damage was to the vehicle. You escaped without injury – or think you did.

In the aftermath of an accident (even a simple “fender-bender”), just because you think you’re fine and have not suffered an injury doesn’t mean that this is the case.

It is quite common for pain or injuries to have a delayed onset after an accident.

Wait until you have been thoroughly checked and cleared by a doctor before you declare yourself injury-free.

If you have been fortunate enough to escape without pain, injury, or any other health complications, there may be no reason to contact a personal injury lawyer.

When there are slight injuries

If you are slightly injured in the accident – say you have minor whiplash or painful cuts and bruises that require hospital treatment – you may not require a lawyer.

If you hire a lawyer for a small claim (a few thousand dollars), a large chunk of any award will go to the lawyer. 

Most personal injury lawyers work on a contingency basis for larger claims. That is, they take a percentage of whatever compensation is awarded to you. 

However, for smaller claims, they may request a fee that will eat up a good portion of any compensation amount.

If your insurance company is not playing hardball and is complying with what you expect, there may be no need for a lawyer.

In the case of more serious injury

If there are broken bones, lengthy hospital stays, and/or chronic health consequences of your car accident (such as persistent headaches or vision impairment months afterwards), the case for contacting a lawyer becomes more compelling.

In such cases, where medical bills have mounted up, you are forced to miss work, and there are longer-term implications of the accident, your insurance claim is likely to be substantial.

Motorcycle accidents can lead to some of the most severe injuries seen on the road. In the event that you get in a wreck on your bike, contact experienced attorneys as soon as possible. The team at Spaulding Injury Law, Alpharetta personal injury lawyer can help you get the support you need.

The insurance company is more likely to dig its heels in and play hard in such cases. Most have powerful lawyers who will be investigating the accident thoroughly and looking for opportunities to pay you less.

How do you know if the amount you are offered by the insurance company is fair and commensurate with your losses?

By hiring professional legal assistance to represent your corner, you can check everything and communicate on an even footing with the insurance company.

Contacting a lawyer also demonstrates to the insurance company that you are prepared for negotiation and, if necessary, litigation.

This can substantially improve the returns you receive.

The contingency fee you will pay your lawyer is usually around 30 percent. That is, they take 30 percent of any settlement.

So, let’s say that the insurance company is offering you $50,000. You hire a personal injury lawyer who is able to negotiate with the insurance company and increase the settlement to $100,000. 

The lawyer takes a third – or $33,333. You still come out well ahead in the deal, with $67,667.

In addition to the financial benefits, the lawyer will relieve your stress by handling all contact with the insurance company, allowing you to focus on your healing and recovery. 

You no longer need to worry about whether you are saying or doing the right thing: your lawyer’s experience will guide you.

What to consider before hiring a personal injury lawyer

The most important factors to consider before contacting a personal injury lawyer,l such as the legal team from Vogel LLP, after an accident are:

  • Are you injured – have you been confirmed injury-free by a medical professional?
  • If you’re injured, how badly?
  • Did you require a stay in hospital?
  • Were there any fatalities in the accident?
  • Have you experienced any chronic health effects?
  • How much are your medical bills?
  • Have you missed work, school, or other important activities?
  • Has your emotional state or relationship suffered?
  • Is there a dispute over whose fault the accident was?
  • Were other people injured in the accident?
  • Was there a problem with the police report or technical complications with your accident?
  • Did the accident occur in a protected area (like a school zone)?
  • Is your insurance company starting to “play hard” with their questioning?

Consider these factors and, if you are not sure, ask a personal injury lawyer for their opinion during a free consultation.

Most lawyers realize that you have been through a traumatic experience and want to help you. You can expect an honest and professional opinion about whether it is worthwhile you hiring them to help you.

As a general rule, in less serious cases, it may be better to settle out of court with the insurance company and move on with your life. 

Where injuries are more serious, it often pays to hire a personal injury lawyer to represent you in negotiations or in litigation.

The Consequences of an Enterprise Cyber Attack

Regaining customer trust after losing their financial data can be a costly and laborious undertaking. What’s more, the legal ramifications can cripple plans for expansion as fines and court costs could divert capital away from investments geared toward advancing your company’s position in the marketplace.

Ultimately, the consequences of an enterprise cyber attack can be injurious to your reputation, your finances, your legal standing and your competitiveness.

 

Financial Consequences

Theft of key information can severely inhibit your ability to generate income. What’s more, your assets could also be at risk if the breach grants the attacker access to your banking and investment information. Furthermore, you’ll find your ability to conduct transactions online hampered significantly if customer payment data is compromised. Additionally, your customers might well take their business elsewhere — canceling any contracts upon which your revenue stream may have relied.

 

Reputational Consequences

Trust is a must. The last thing you want is for the word to get around that your network security is lax. That’s a surefire way to get your customers excited about doing business with your competitors. The resulting loss of customers, as we noted above, can put a significant damper on sales, which in turn could decimate your profit potential. A company is only as good as a customer’s last interaction with it. Lax cybersecurity could make your last interaction one in which your customer is left vulnerable to cybercriminals — and you can bet they will tell everyone they meet.

 

Legal Consequences

Clients are within their rights to expect a good faith effort on your part to protect their personally identifiable data. Further, you have a legal responsibility to see to it that their financial data is safeguarded in every way possible. In fact, data protection and privacy laws require you manage the security of all personal data you hold —whether it’s that of your staff or your customers.Fines and regulatory sanctions are routinely imposed upon organizations when found to be negligent in this area. Your company can also be sued for damages if your system is breached and thieves make off with customer data they then use to cause some sort of injury to those customers.

 

Competiveness Consequences

What happens when your big plan for expansion is stolen and sold to one of your competitors? What if a DDoS attack is launched against your site and shuts it down? Before you scoff, keep in mind it’s happened to big players — like Target, PayPal and Twitter — as well as a number of other significant enterprises.

Bankruptcy can easily result from having your ability to conduct your operations compromised. In fact, some 60 percent of companies that experience cyberattacks go under within six months of the incident. Remember that thing above about all the lawsuits? They could trigger a death spiral from which your business may not recover.

 

What Can You Do?

Vulnerability management is key to safeguarding your company against the consequences of an enterprise cyber attack. This includes implementing strong encryption, backing up your data and deploying robust antivirus and antimalware applications. 

It’s also important to ensure your users observe and adhere to your security protocols — without cutting corners — each and every time they log into your system. Require the usage of strong passwords as well as multi-factor authentication. Training your users to spot phishing scams is also critical to protecting your system. Limiting access to those who absolutely need it is crucial as well. Yes, much of that information is common sense. However, successful cyber attacks have proven over and over again that common sense isn’t always common.

The good news is most people who engage in this type of criminal activity are looking for easy marks. With robust security protocols in place and functioning, you won’t appear to be low hanging fruit. They’ll likely try you and move on to look for a more vulnerable target when they can’t get in easily.

Can You Sue a Nursing Home for Neglect?

It might be an accident. It might not be obvious. It might not be “standard practice” in the establishment.

However, neglect can cause serious consequences for people who have entrusted their health and wellbeing to the care of a nursing home.

It can lead to falls, injuries, infections, diseases, and worse. 

However, many cases go unreported and, therefore, unresolved.

If you suspect that you or a loved one is the victim of neglect in a nursing home, what can you do? Can you sue for losses? Our lawyers at Sinel & Olesen, PLLC may be able to help you. 

 

What is nursing home neglect?

The federal government regulates nursing homes and other care facilities that receive Medicare or Medicaid. This ensures an adequate level of safety for residents. 

The individual state governments lay out more precise guidelines that must be followed.

Nursing home neglect occurs can be defined as follows:

“a failure, intentional or not, to provide a person with the care and services necessary to ensure freedom from harm or pain; a failure to react to a potentially dangerous situation resulting in resident harm or anxiety.” 

(Source: http://www.nursinghomealert.com/signs-of-nursing-home-abuse )

Many victims of nursing home neglect are not even aware of it. They may sense that something is wrong but a concerned loved one is often the first to raise the alarm.

Patients in nursing homes are usually at their most vulnerable. They may have suffered mental decline and not be in a position to recognize the signs of neglect, let alone do anything about it.

Neglect can take many forms and it helps to be aware of the various situations that may arise in a nursing home environment.

 

Common examples of nursing home neglect

The signs of neglect may involve actions not taken. This may make them more difficult to identify than signs of abuse.

The following are all common examples of neglect in nursing homes:

  • The presence of bedsores

Bedsores or “pressure ulcers” are a typical sign of neglect as they result from a lack of movement when a patient is confined to a bed or wheelchair.

  • Unexpected weight loss or dehydration

Residents in nursing homes have a basic right to receive adequate nutrition and hydration. If your loved one starts losing weight, this could be a sign of neglect in this respect.

  • Inadequate supervision of residents

Residents often require help performing basic daily duties like going to the bathroom, bathing, and so on. Without adequate supervision, they may fall and injure themselves.

  • Unsanitary conditions 

If a resident’s clothing, bedsheets, bedroom, or common areas are left in unsanitary conditions, this type of neglect raises the risk of disease and infection.

  • Illness or injury

If your loved one falls sick in a nursing home with conditions unrelated to the primary condition, ask whether this could be due to neglect? Signs of injury may also point to an avoidable fall and should be investigated.

  • Mistakes with medication

If nursing home carers are tasked with administering medication for your loved one, mistakes can be serious. Failure to follow the required schedule may constitute neglect.

  • Unsafe living conditions 

This encompasses a wide range of conditions, such as poorly heated or ventilated rooms, wet floors, lack of hot and cold running water, fire hazards, and so on.

The effects of such neglect are often worse for people who are already in a frail and vulnerable condition, leading to:

  • Serious physical injury from slips and falls
  • Hospitalization for medical conditions such as infections
  • Mental health issues
  • Stress and emotional trauma

 

Can you sue for nursing home neglect?

Yes. If you or a loved one has suffered harm due to neglect in a nursing home, you can file a lawsuit against the nursing home.

However, each state has different definitions of neglect and processes for dealing with neglect claims.

In most cases, your complaint will not go too far without the help of a lawyer who specializes in medical malpractice.

 

When should you contact a lawyer?

Instances of neglect in nursing homes are often first observed initially by friends or relatives visiting loved ones.

Going to court is rarely the first option.

Most people will raise the issue with relevant authorities in the nursing home and try to improve the situation. The nursing home will have a grievance procedure to follow if it is Medicare-certified. 

However, sometimes it is too late. At other times the nursing home fails to correct the situation and the situation deteriorates for the patient.

You may need to speak to a local long-term care ombudsman or the adult protective services agency.

If you are still unable to rectify the situation, contact a lawyer about your situation and discuss your options. You may decide to file a case against the nursing home.

This can bring compensation for the physical harm, distress, and expense caused by nursing home neglect.

However, be warned: this is no simple process.

Nursing homes often have powerful legal representation. The burden of proof can be high and you may require the assistance of professional witnesses to demonstrate the losses suffered.

Hiring an experienced lawyer who understands the local state court system and has represented victims of nursing home neglect will help.

 

It doesn’t matter if the neglect was intentional or not…

When a loved one enters a nursing home in the U.S. you are entitled to believe that they are safe and will receive a reasonable level of care. With Epping Gardens palliative care, you can expect a caring and supportive environment that promotes supported independence and aims to keep guests physically and mentally active, eating well, staying connected and having access to a high standard of clinical care.

When these standards are not met, you can claim for losses through the legal system – whether or not the neglect was intentional.

Being understaffed or having inadequately qualified, trained or supervised carers is not an excuse. 

If you identify the warning signs of neglect and a loved one’s health or wellbeing has suffered, you can hold the nursing home liable.

3 Tips for Prequalifying for Financing when Facing a Financial Crises

Whether you need money to pay off some bad debt that you owe, or you’re looking for a way to fund some home improvements right now, you might be considering what your options are out there.

Don’t worry – you’re not the only one. There are lots of people, especially in a financially difficult time like this, who look to personal and auto loans to help them get by. If you’re wondering how you can prequalify for an auto loan, let’s talk about it. Here are three tips for prequalifying for a short-term loan.

 

Why It’s Worth Getting Prequalified

So, what is being prequalified, then, and why is it something you might be interested in? When you are interested in applying for a loan, the lender will take a look at your general financial status and decide whether you’re a good candidate for a sure repayment. This is why being prequalified for a loan doesn’t mean that you’ll automatically be approved, but it does mean that you’re a strong candidate for the process and that you show promise. Being prequalified is definitely going to improve your chances of being approved.

 

1.  Select More Than One Lender

When thinking about being prequalified for a short-term auto loan or personal loan, we suggest checking out more than one lender. This is because the more lenders you pre-apply with, the greater a chance you have of one of them approving you.

Just look up all the possible short-term lenders in your area. The best part is that with most of them, you can apply online, which is going to save you a lot of time going from place to place.

 

2.  Provide Your Basic Information

Most of the time, when it comes to a short-term auto lender, they won’t require too much of your personal information to send you through to the next stage. In fact, the majority of lenders won’t even ask to see your credit score.

They’ll just want to know a bit of basic information about you so that they can get on with the prequalifying process. There might be more information that they need at a later date, but right now, they just need some basic stuff, so be prepared to give them what they need.

 

3.  Be Patient

Depending on how many other people the lender has to process in the prequalifying stage, it could be a bit of a wait to find out if you have prequalified or not. This is another reason why it’s worth applying to more than one lender – if another lender gets back to you quicker, you can just go with them.

Don’t think that just because they haven’t gotten back in touch, means that they have forgotten about you. These things take time, and if it’s taking a long time, this doesn’t necessarily mean that you haven’t been pre-approved.

There’s no telling what it takes to prequalify for a title loan – but if you play your cards right, be patient and put your eggs in more than one basket, you have a much better chance of success.

Clearing the Paper Jam: SigniFlow Liberates the Business through Digitalisation

An Interview with Mr Leon van der Merwe, Founder and Executive Director of SigniFlow

The Shangri-La of the paperless office has remained obstinately distant in spite of all the optimistic predictions that have been around since the PC explosion of the 1980s. In this interview, Leon van der Merwe, founder and executive director of SigniFlow, lifts our spirits with news that the end of the long journey is finally in sight.

 

Hello, Mr van der Merwe. Thank you for taking the time to talk to us today. It’s a pleasure to have this opportunity to chat with you about your company, its achievements in the area of digital transformation, and its plans for the future.

I understand you have been in various leadership positions since 1994. Being in high-profile posts must induce some stressful moments. Would you mind telling us how you start your day in preparation?

My team and I run a very tight schedule, often consisting of a meeting on the hour, every hour throughout the day. We all get to work early, around 6 a.m. to catch up and prepare for the day ahead, which starts at 8 a.m. and often runs into the evenings.

Having a dedicated team that is willing to go the extra mile to get the job done is what makes the magic happen. The team at SigniFlow is as devoted to our tech as they are to our customers and one another.

 

People have been talking about the paperless office for decades, but it seems to have been a long time coming. Why do you think it has taken so long? And why does it finally seem to be happening now?

A typical business consists of people; remove the human element and you have no business. Going paperless or digitising the office is often perceived as getting rid of jobs, which could not be further from the truth. Our solutions are designed to make humans more efficient, not get rid of them. A business that serves a thousand customers in a region and has twenty employees can serve ten thousand customers in ten regions after properly automating and / or digitising processes. 

The impact of digitisation on a business is often underestimated and thought of as an IT project, whereas in fact it is much more than that. Digitisation requires buy-in and commitment from all stakeholders, as it impacts the entire business and its operations.

A business that serves a thousand customers in a region and has twenty employees can serve ten thousand customers in ten regions after properly automating and / or digitising processes. 

We found that most businesses that started digitisation years ago did so by digitising processes in seclusion, or only within certain departments, mostly without consulting other departments or thinking of the overall business strategy. This brought about a disconnect between the departments, or departments in the same business running different, sometimes incompatible systems. The result was that digitisation projects often failed and people reverted to paper, or that it naturally faded away, as employees were forced to revert to legacy systems due to pressures from business units further down the value chain.

 

Some might say that paper is the ultimate legacy system, and we all know how much effort can be involved in replacing those. How can you convince companies and organisations that it’s worth the effort of moving away from paper-based systems that have served them for so very long? And how can you persuade them to make the leap of faith of leaving solid, dependable paper behind?

There are several, obvious “green office” reasons to save paper and digitise, but none are as convincing as the true benefits that businesses reap from increasing their efficiency and geographical reach once digitised.

Paper-based processes are slow, inefficient and restrictive by nature. As an example, we have a customer in the banking sector, which almost tripled its revenue on a foreign exchange product after the end-to-end digitisation of the entire customer journey. How is this possible? Simple: there are only so many hours in the day in which a broker can process deals. If two-thirds of their time is spent on obtaining documents, printing, scanning, sending emails and getting deals signed off, then only one-third is spent on developing new business. By removing the manual labour components through automated systems, the brokers quickly realised that they were able to serve more customers per day and make more money, so, within a few short months, they tripled their revenue.

Another example is a letting agent that was bound to a certain geographical area, purely because they had to drive out to the customer to get their identities verified and contracts signed. After digitising their contracts and identity verification system, the realtors soon realised that they had more time on their hands but, more importantly, it no longer mattered where their customers were situated. They could comfortably expand their reach into larger geographical areas and had more time to deal with more customers, which meant more revenue.     

These are only two examples. There are hundreds like these, spread across every sector of business. Leaving paper behind may feel like a daunting exercise, but it is in fact a freeing experience when it is done with the right partner.

There is huge interest worldwide in effecting the digital transformation away from paper-based systems. But, at the same time, there is intense competition among the solutions providers. What is it that distinguishes SigniFlow from the other players in this competitive market?

SigniFlow’s value propositions are as follows:

Flexible software architecture

SigniFlow is a true enterprise solution, offering Microservices Architecture (MSA) that enables autonomous integration. This allows our customers the flexibility to integrate any third-party application with any micro-component of SigniFlow.

Flexible infrastructure architecture   

SigniFlow software is not bound by any infrastructure technology and can be deployed in almost any location (cloud, on-premise, public or private data centres, etc.) and in almost any application environment (virtual machines, containerised environments, Docker, Kubernetes, etc.).

Compliance with law

SigniFlow adheres to the most demanding legal and regulatory compliance across the globe. SigniFlow runs segregated instances across different regions in the world, each configured independently to ensure compliance with local legislation, such as privacy laws and e-signature laws that differ in each operating region.     

People

The SigniFlow team is dedicated to delivering and upholding only the highest levels of customer service. 

 

What are the challenges for SigniFlow in keeping the edge over the competition in the future?

SigniFlow naturally adopted a development culture that is not influenced by competitor products, but rather by customer demand. We are not aiming to be the largest of our kind in the world; we are aiming to be the most relevant.

 

It would be understandable if organisations approached moving away from their familiar paper-based systems with trepidation. Does hand-holding form a major part of what you do?

Yes, SigniFlow’s top three projects in 2019 were replacing competitor software previously deployed by major companies claiming to be the best in the world. Based on feedback from these customers, it is evident that SigniFlow offered better flexibility and better service delivery throughout the project life cycle.  

 

These days, we take for granted the ability to access a seemingly infinite range of systems from our mobile phones and other devices, as well as our desktops. How much of a challenge are mobile platforms for SigniFlow as a solutions provider, and for organisations, too, as they transform to digital workflow?

In today’s world of technology, mobility plays a major role in the success of software deployments. Consumers and corporates alike demand the ability to use their mobile smartphones to access software and perform important functions. SigniFlow understands this as well as it understands the importance of balancing security and compliance with user experience. Our R&D department works around the clock to reduce the number of steps (each step classified as friction) that a user needs to perform in order to complete a process.

 

In today’s world of technology, mobility plays a major role in the success of software deployments. Consumers and corporates alike demand the ability to use their mobile smartphones to access software and perform important functions.

The successful transformation to paper-free systems might seem to be an end in itself. What do you see as the next big milestones in the digital transformation process?

Getting rid of paper is only part of the many milestones that exist in digital transformation projects. Once a business has decided to embark on a digitisation project, the success of the project will largely depend on how committed the organisations’ people are to the project. Instilling a digital culture among employees and stakeholders is the next big task at hand.

Most failed digitisation projects are as a result of employees and executive members not buying in. It is critical that everyone in the business should see the advantages of digitisation and the vision of company.

 

What are the issues in terms of disaster recovery, in comparison with traditional systems? How can an organisation be sure that an outage, natural disaster or other unforeseen catastrophe won’t bring their operations to a standstill?

SigniFlow operates in highly sophisticated environments like Microsoft Azure and Amazon Web Services (AWS), which offer the latest tech to ensure maximum uptime and data redundancy. Local redundancy (replication within a single location) has its limits in offering redundancy, so, to mitigate these risks, SigniFlow offers and recommends zone redundancy (synchronous replication across multiple zones in a region) and even geo-zone redundancy (replication across multiple regions).

 

SigniFlow has its roots in the South African environment but has expanded rapidly on to the international stage. What are the issues in adapting the company’s solutions to organisations that may operate in and across different regulatory and fiscal environments?

Before entering a new territory, the SigniFlow R&D department spends as much as a year investigating local legislation and regulatory requirements within a new region or country. Only once we have a clear understanding of these requirements do we proceed to launch a segregated instance of SigniFlow in the new region that is configured to comply fully with local laws. Our core system has been adapted to work with a multitude of technologies designed to satisfy local regulatory demands for digital and electronic signature methods in each region.

 

The “arms race” between legitimate business organisations and less-admirable elements involved in cybercrime is ongoing. Systems that involve large financial transactions and digital signatures seem bound to attract the attention of criminals. Should businesses be worried? What can SigniFlow do to allay their fears?

SigniFlow has a massive drive to ensure compliance with international regulations for anti-money laundering (AML). We have researched and developed digital processes that work independently or with the SigniFlow platform to perform state-of-the-art “know your customer” (KYC) checks at a transactional, or customer onboarding level (https://signiflow.com/kyc/). We have partnered with global leaders in digital identity and human authentication to bring world-class solutions to our customers to assist them in combating cybercrime and financial fraud.      

 

SigniFlow has a massive drive to ensure compliance with international regulations for anti-money laundering (AML). We have researched and developed digital processes that work independently or with the SigniFlow platform to perform state-of-the-art “know your customer” (KYC) checks.

As the executive director of a dynamically developing company, how do you look after the well-being of your employees? How do you encourage a working culture of continuous innovation and learning?

All our employees are guided and financially supported in growing long-term annuity for retirement. The sharing of knowledge from senior to junior employees and coaching among peers is instilled in the company culture. We have an open-door policy and every employee has the freedom to share new ideas with peers and senior management. We are proud to say that not a single employee left our employ during 2019, a statistic that speaks for itself.

 

What do you think are the most valuable lessons you have learned? What would be your advice to those who want to venture into this industry?

Writing software is easy. Turning that software into a commercial business is something that requires a bit more thought, planning and funding. Commercial customers pay a licence fee not only to have well maintained, functional software; they also rely heavily on a solid support infrastructure. Having dependencies on other software is risky and must be avoided as far as possible. Having state-of-the-art infrastructure that supports maximum uptime is a must, but it is not cheap and needs to be carefully planned and micro-managed throughout the growth cycle. People are your most valuable, yet most expensive, assets. Ensure that all your employees share in a common goal and are fully invested in the company’s vision.

 

Finally, you have many years’ experience in ICT. Moreover, your career to date has been closely connected with digital workflow technologies. Do you see the increasing uptake of digital transformation solutions internationally as being somehow what your career has all been leading up to? What further challenges are you, personally, looking forward to taking on?

There is no doubt that there is a massive uptake of digital transformation worldwide in both private and public sectors. The adoption of web services is largely responsible for removing incompatibility between core systems by promoting integrated, yet federated systems. Companies can now deploy multiple core systems in a single IT landscape faster and more effectively than ever before, each performing unique and specialised functions, thus eliminating the need to rely on legacy vendors in order to catch up with the latest technologies.

Apart from ensuring that SigniFlow and all its stakeholders have a bright future, I constantly strive to find more innovative approaches to automating the workplace in ways that responsibly promote machines, helping humans achieve their goals.

 

Thank you very much Mr van der Merwe. It was a pleasure speaking with you.

Executive Profile

Leon van der Merwe, founder and executive director of SigniFlow, has been with the company since 2012. With over two decades of experience in the ICT sector, he is a keen marketer with a passion for all things digital. His innovative spirit has been the driving force behind several new and progressive cloud solutions, such as SigniFlow and pbVerify.

Breaking Tradition: How Finance Brands can Connect with Customers on Social Media

By Tamara Littleton

If you think social media is only about sharing memes and selfies with mouse filters, think again. All life is there, which means all companies should be there too – even financial providers. In fact, especially financial providers. Social media is the perfect platform for building trust, something the financial services sector is slowly regaining. As the sector still sits at the bottom of Edelman’s latest Trust Barometer, it needs to do all it can to build connections with its customers.

 

Given that social media can often be regarded as the Wild West of the online world, in an industry as tightly regulated and with a product as potentially life changing as finance, providers are right to be wary. There are many examples of the wrong brand in the wrong place at the wrong time. But used correctly, social media is an essential platform for attracting, engaging and educating users of financial services.

Interacting with financial providers and discussions around financial services over social media is not a fad, it’s a trend.

Consider how consumers behave today. A 2019 Experian survey of 18-19 year-old Americans found that they were keen to learn about finance, but a lot of that learning came from YouTube (27%) and other social media platforms (24%). But most of their learning came from friends (28%). Interacting and asking questions of peers in informal settings is quite normal for younger generations and increasingly so for other segments and social media is the perfect setting for this. That is the picture today. As younger consumers engage further with financial products throughout their lives, those social discussions will only grow. Interacting with financial providers and discussions around financial services over social media is not a fad, it’s a trend.

 

Socially acceptable

Naturally, there are strict regulations around what financial services companies can say and when, particularly via social media platforms. In the UK, social media activity must be ‘fair, clear and not misleading’ according to Financial Service Authority guidelines. Records of all communications must be kept, even tweets, and customer complaints still must be directed through the appropriate channels.

In the US, once again fair and balanced are watchwords, while the Financial Industry Regulatory Authority also prohibits “interactive electronic communications that recommend specific products” unless certain conditions are met. Guidelines are also continuously updated as the platforms themselves evolve, so it is incumbent on any financial brand using social media to stay abreast of changes.

That said, there are many compliant activities financial brands could and should make use of to help get closer to their clients. Customer care is an important example of this as social media is often the first port of call for customers to vent – or occasionally praise – their suppliers. Monitoring for these messages is critical so companies can get ahead of reputational challenges, as well as address their customers’ needs in a timely, efficient manner.

Social media is also an excellent window to the world. While brands shouldn’t fall into the trap of thinking that a social media audience is representative of every slice of society – it can sometimes become a tiresome echo chamber for just a few – for certain customer segments it can be a focus group of thousands, if not millions. It allows brands to watch behavioural trends, gain insight into customer needs and research new ideas, all from the comfort of a keyboard.

While social media has become a customer service channel almost by default, not enough financial brands are using it for one of its most obvious benefits – to broadcast their brand messages. Whether it’s video on YouTube, short alerts on Twitter, business announcements on LinkedIn or potentially even creative skits on TikTok, social media is a diverse platform that financial services brands should use to build their narratives and add much-needed human face to the brand.

While social media has become a customer service channel almost by default, not enough financial brands are using it for one of its most obvious benefits – to broadcast their brand messages.

This plays into the idea of social platforms as recruitment channels, where brands can reveal whole new sides to themselves that people in traditional channels may not see. Research has shown that Millennials in particular, want to work somewhere that shares their values and agile way of working as much as for a certain level of pay. Social media is an excellent platform to highlight those values to new audiences by either posting examples of value-driven activity, or posts from existing employees talking about their experience and those shared values.

 

Making a plan

It’s clear that anyone can leap on social media and start engaging without any thought as to the why, the who, the where or the when. This does not usually end well. It may seem like a more free-wheeling, relaxed environment than paid or owned media and there is the opportunity to be less formal and more ‘human’ in interactions but that doesn’t mean any approach can be half-hearted. There are key steps to follow if brands are to turn social media into a platform for effective stakeholder engagement.

These steps involve having guidelines around tone of voice and communication style to help stay true to your brand personality as well as understanding who and where your customers are. Giving guidance on how to communicate effectively will allow brands to tailor the right message to the right segment via the right platform in a way that is authentic. The danger of misunderstanding the audience and language needed can be detrimental – looking for younger customers on Facebook or Twitter when their natural home is TikTok or Snap creates a disconnect.

This doesn’t mean being ‘down with the kids’ if the brand is naturally traditional, however the tone of voice will need to be social specific and for example, massively different to one developed by corporate comms. Social is about connecting therefore the tone needs to be primarily human and genuine, you only need to look at how much younger people cringe at their parents trying to use the ‘lingo’ to know that anything that smacks of inauthenticity will be instantly disregarded. Be true to the brand’s personality and you can shape your content and tone of voice to reduce the risk of alienating whole demographics.

Engaging on social media also requires an ongoing conversation. Whether that’s one-to-one or one-to-many, there is nothing ‘one and done’ about the platform. Most initial contact via social media is to ask a question, either of peers or the brand itself. To get people coming back again and again, there has to be a reason. This might be exclusive content or VIP services but it’s important to keep up the momentum. Many brands are using a service called TokUpgrade to grow their TikTok accounts. Click here to read their customer reviews. 

Brand safety also comes to the forefront here when we explore how to best approach social media. However much the general public knows that certain corners of social media can turn into the wild west, they still hold a dim view of brands allowing it to happen on their turf. Moderation is crucial to create a safe and comfortable place for people to visit, to curb the spread of so-called ‘fake news’ and make sure non-compliant content such as spam or malicious comments is removed.

Of course, among the spam and fake news it can be tempting to remove criticism too but not only is that highly unethical, it in itself damages the brand. Running from an issue is the fastest way to upset people and generate feelings of mistrust. On the other hand, dealing with problems in an open and honest way, on a platform where everyone can see what is going on builds trust. Even when most conflict resolution takes place offline for regulatory reasons, it is possible to provide generic updates in a public forum to demonstrate that the brand is fully engaging with the process.

 

Investment is key

One of the biggest social media failures of organisations in any sector, not just financial services, is the lack of investment. Talking and posting on most of the platforms may be free, but the time, effort and financial investment behind the scenes can be significant. Creating the right content, in differing tones according to audience and platform, planning and scheduling it, resourcing staff to monitor and respond across a range of channels, and training them to do it responsibly all costs money. Under-resourcing social media sets customer expectations then promptly fails to deliver on them. Not only is that damaging to the brand but, in the context of competitors fully supporting social media, reduces a brands competitiveness in what is an increasingly crowded market.

Social media as a channel has grown organically, its importance as a customer engagement platform increasing tentatively at first, then exponentially and at speed. Therefore, although it has been used by the more disruptive, agile financial services brands as an engagement and customer service tool for some time, it still seems to have taken more traditional brands somewhat by surprise.

The other dimension is that, despite being a channel on which brands can promote, communicate and advertise, it is not a marketing channel in the way that perhaps radio, print or TV might be. Social media has given rise to a whole new set of customer and brand behaviours that simply didn’t exist a decade ago. It is a problem-solving, relationship-building, trust machine that you can also market through but, it requires investment, strategy, training and planning to really drive success.

About the Author

Tamara Littleton, founded The Social Element in 2002, before the explosion of social media, initially designed to protect brands online. Her pioneering approach has led to the agency operating a highly inclusive remote working model with a strong global team that now stands at around 300+. They work shoulder- to-shoulder with some of the world’s biggest brands to deliver consultancy-led social media services, helping to create genuine human connections with consumers.

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The Covid-19 Global Pandemic: How Africa Should Respond

A boda-boda, or motorcycle taxi, driver wears a makeshift mask made from a local fabric known as Kitenge as he looks for customers in the Kibera neighbourhood of Nairobi, Kenya Friday, March 20, 2020. (AP Photo/Patrick Ngugi)

By Mills Soko and Mzukisi Qobo

 

Global Context

The coronavirus global pandemic has caused significant harm to the global economy.  With two-thirds of the world’s population located in developing countries and facing massive economic damage from Covid-19, the United Nations Conference on Trade and Development (UNCTAD) has called for a $2.5tn financial package for these countries.[1]  Developing countries have borne the brunt of the Covid-19 outbreak “in terms of capital outflows, growing bond spreads, currency depreciations and lost export earnings, including from falling commodity prices and declining tourist revenues.”[2] The impact has been greater than it was during the 2008/9 global financial crisis.  Portfolio outflows, for example, from the key emerging economies soared to $59bn between February and March. This is far in excess of the outflows recorded by the same countries at the inception of the global financial crisis, which amounted to $26.7bn.[3]

Compared with the financial firepower deployed by industrialised countries, developing countries have paltry resources to combat the Covid-19 crisis. For example, the United States Congress voted a staggering $2tn stimulus package, while the British government had four major budget announcements within a fortnight.  For their part, the Eurozone countries eschewed fiscal austerity in favour of a “whatever it takes” approach.[4] Advanced economies and China have strung together sizeable financial packages aimed at throwing a $5tn lifeline to their economies.  These financial measures are calculated to alleviate the physical, economic and psychological effects of the crisis.

Nonetheless, the world economy will go into recession and this will have serious economic consequences for developing nations, with fiscal and foreign exchange constraints tightening further over the course of 2020. Developing countries are projected to face a financing gap of nearly $2tn to $3tn over the next two years.  In the absence of monetary, fiscal and administrative capabilities to respond to the crisis, they will have to contend with the twin burden of a devastating pandemic and global recession.[5]

 

Can Africa Overcome its Challenges?

Africa’s social infrastructure is weak. Many countries are hamstrung by poor health systems, a lack of medical equipment and supplies, as well as inadequate medical personnel to respond adequately to health challenges. The African continent is also susceptible to climate shocks, such as drought, which adversely affect food security. The World Bank (WB) estimates that Africa could face a severe food security crisis, with agricultural production expected to contract between 2.6 percent and 7 percent.[6]  The African population suffers deficiencies in terms of low life expectancy, high disease burden, as well as other social ills related to alcohol and substance abuse, insufficient physical activities, and unhealthy diets.[7]  Several African countries, including leading economies in the region, are among the worst performers on the Human Development Index.[8]

Africa’s youthful population and warmer climate could be an advantage.  These attributes, however, provide false comfort and cannot inoculate the continent against the Covid-19 pandemic, especially in light of deep socio-economic vulnerabilities.

In the context of Covid-19 these challenges are likely to be exacerbated if the infection rates are not curtailed and a vaccine is not found. Social distancing has limits in Africa where population density is very high, and where poor households live in densely populated areas. As the African Centre for Strategic Studies has noted, African countries boast megacities such as Lagos, Cairo, Kinshasa and Johannesburg that have peak population densities greater than that of New York City at 56 000 people per square-metre.[9]  The implications of this are that social distancing and extended lockdowns are unlikely to be effective and could ultimately trigger social tensions and popular discontent. There is also a high cost to social distancing as informal traders and small enterprises have to halt operations, creating a potential risk of rise in poverty levels and malnutrition due to a loss of income.  Nonetheless, Africa’s youthful population and warmer climate could be an advantage. These attributes, however, provide false comfort and cannot inoculate the continent against the Covid-19 pandemic, especially in light of deep socio-economic vulnerabilities, including food insecurity, malnutrition, lack of access to quality health services, and inadequate provision of water and sanitation, all of which are problems stemming from poor governance. Vaccination is, therefore, the ultimate solution to Covid-19.[10]  Until this is discovered, it is important that African countries work hard to coordinate better their programmes, pool their resources, and augment their capabilities. This will put them on a stronger footing in crafting their responses to Covid-19 and seeking development support from external partners.

 

What Role Can South Africa Play?

President Cyril Ramaphosa is the current Chairperson of the African Union (AU), a role that places him uniquely to lead an effort to coordinate the work of various institutions and financing instruments; forge common African positions; and orchestrate engagements with African external actors, including key bilateral partners and international organisations. At the bilateral level, and working with the AU President, the AU Chair can engage China on the basis of the existing Forum on China-Africa Cooperation to ascertain the type and level of support that China can provide to the African continent during this crisis period. This is also an opportune time to deepen the partnership with the European Union (EU), which has long-standing and chequered ties with Africa dating back to the colonial era.

The EU’s commitment in respect of Covid-19 support measures towards the African continent is commendable but it needs to do more. Only a few countries are beneficiaries of EU support for Covid-19 initiatives. Ethiopia has been offered 10m euros to support the government’s Preparedness and Response Plan.  In Nigeria, the EU has pledged 50m euros to support the country’s efforts to fight Covid-19.   For its part, Sudan will receive 10m euros to bolster the country’s humanitarian projects related to access to clean water and hygiene. Sierra Leone will benefit to the tune of 34.7m euros to address the economic consequences of Covid-19, including efforts to strengthen macroeconomic resilience and stability.  In addition, the EU intends to unveil further measures as part of a renewed EU-Africa Strategy that will be presented at the 2020 EU-Africa Summit in Brussels.[11]  The EU has declared Africa its most important global partner. If it is to mean anything, such rhetoric should be backed by serious commitment and concrete actions during Africa’s time of need.

Given its current role as AU Chairperson, and its unique position as the only African country that is a member of the G20, South Africa is strongly poised to play a leading role in developing and lobbying for a common set of African proposals to the global community, including countries such as China that have been expanding their diplomatic and commercial footprints on the African continent over the past two decades.  Britain, which has been carving a new role for itself in the aftermath of Brexit, has an opportunity to realise what former Prime Minister Theresa May and current Prime Minister Boris Johnson have characterised as ‘Global Britain’. There is no better time than during this crisis for Britain to project itself as a credible global actor by taking a leading role in responding to pressing global challenges.

The main priority for South Africa is to coordinate a common and coherent African platform with a view to mobilising resources across the continent and to agreeing a collective agenda in terms of engaging with external partners. In the past, Africa has been a passive recipient of largesse from the major powers. Now is the time for the continent to proactively shape its own agenda and present it to the rest of the world.  On 3 April 2020 President Ramaphosa convened a teleconference meeting of the AU Bureau of Heads of State and Government to discuss Africa’s response to the Covid-19 pandemic.[12]  Noting the unprecedented nature of the threat posed by Covid-19 to the continent, the meeting endorsed the operationalisation of the AU Covid-19 Response Fund set up on 26 March 2020.[13]

The main priority for South Africa is to coordinate a common and coherent African platform with a view to mobilising resources across the continent and to agreeing a collective agenda in terms of engaging with external partners.

The meeting emphasised the importance of a comprehensive continental strategy that sets out Africa’s priorities and measures to mitigate the socio-economic and political impacts of the pandemic on African nations.  Further, the meeting agreed to set up regional coronavirus task forces in each of Africa’s five regions: Southern Africa, East Africa, West Africa, Central Africa and Northern Africa. These task forces will “oversee screening, detection and diagnosis; infection prevention and control; clinical management of infected persons; and communication and community engagement.”[14]

The Heads of State enjoined the International Monetary Fund (IMF) and WB to recast their present disbursement policies to show flexibility and speed, including raising the availability of IMF special drawing rights (SDRs). In addition, they underscored the need for a comprehensive stimulus package for Africa, “including, deferred payments, and the immediate suspension of interest payments on Africa’s external public and private debt in order to create fiscal space for Covid-19 response measures.”[15]

As AU Chairperson, South Africa should champion the kind of mobilisation reminiscent of the 2005 Gleneagles undertaking by the G8 to provide support for Africa’s development.[16] What was significant about that initiative was that it sought to structure a solid platform for a development partnership between Africa and Europe, with the New Economic Partnership for Africa’s Development used by African leaders as the basis for dialogue. As part of this compact, industrialised countries made a collective pledge to double overseas development assistance from the 2004 levels of $34.5bn to $67bn, with 50 percent of this disbursed to Sub-Saharan Africa.[17]

 

External Partners

The WB and IMF command the largest potential resources to address the economic shocks occasioned by Covid-19.  Leaders of both international financial institutions have exhorted creditor countries to suspend debt repayments to enable the poorest countries to spend more on health systems.  There ought to be recognition by the advanced countries that their fates are intrinsically linked to those of African countries and they will ultimately inherit Africa’s looming crisis.  There also needs to be a coherent and globally coordinated response, rather than the current mixture of ad hoc funding commitments and initiatives.[18]  The ratcheting up of financial support to date has not been proportionate to the enormous scale of the Covid-19 threat.

The IMF has stated that it has up to $1tn available globally to help countries manage the financial effects of the Covid-19 crisis.[19] The IMF needs to respond to stem what is poised to be the largest capital flight from developing countries by issuing new SDRs.[20] The IMF’s Managing Director, Kristalina Georgieva, has pointed to the replenishing of funds utilised in a debt relief and aid mechanism during the 2014 Ebola epidemic that broke out in three African countries. There has also been a proposal that principal payments – the actual debt payment, not interest charges – be waived for the most vulnerable countries.[21]  For its part, the WB has allocated a $14bn Covid-19 package to shore up beleaguered economies, as well as to support private sector activities through the International Finance Corporation.[22]  The WB will require additional resources to be able to provide support through, for example, soft loans and grants.

Multilateral development banks can also provide funds and expertise, especially in assisting the least developed countries in programme development and implementation. As Africa’s biggest trading and investment partner, the EU as well as other major donor partners have ample resources to offer solidarity support and other forms of assistance to African countries. Within the EU, France has been leading European efforts to secure a deal on debt relief for Africa, expanding credit-swap lines and expanding IMF SDRs by $500bn.[23]  Regional development banks such as the African Development Bank and the New Development Bank should also be engaged to look beyond specific member country support and to potentially vulnerable regions on the African continent.

Overall, a key challenge for African countries is to present a unified front and outline a clear and consistent set of demands to the international community. Fourteen Latin American and Caribbean countries have already approached the IMF for emergency facilities totaling $4.48bn.[24]  Recently the WB approved $50m in instant funding to Kenya to support the country’s response to the Covid-19 pandemic, while the IMF approved the disbursement of $109m to Rwanda to help the country deal with its balance-of-payments of problems stemming from the outbreak of Covid-19.[25]  There is no common panacea for African countries with distressed economies, but other African nations should seek help and craft solutions that meet their national interests and needs.

About the Authors

Mills Soko is Professor of International Business and Strategy at Wits Business School.  His research focuses on business strategy, innovation, international trade, and regional integration in Africa.      

Mzukisi Qobo is Head (Designate) at the Wits School of Governance. His research focuses on public policy and governance, geopolitics, and international political economy.  

 

References

[1] United Nations Conference on Trade and Development, The Covid-19 shock to developing countries: Towards a “whatever it takes” programme for the two-thirds of the world’s population being left behind, UNCTAD: Geneva, 30 March 2020, at https://unctad.org/en/PublicationsLibrary/gds_tdr2019_covid2_en.pdf

[2] Ibid.

[3] Ibid.

[4] Larry Elliot, ‘Africa won’t beat coronavirus on its own,’ The Guardian, 27 March 2020, at https://www.theguardian.com/commentisfree/2020/mar/27/africa-coronavirus-west-covid-19

[5] United Nations Conference on Trade and Development, op cit.

[6] World Bank, ‘For Sub-Saharan Africa, Coronavirus Crisis Calls for Policies for Greater Resilience,’ World Bank: Washington DC, 9 April 2020, at https://www.worldbank.org/en/region/afr/publication/for-sub-saharan-africa-coronavirus-crisis-calls-for-policies-for-greater-resilience

[7] World Health Organisation, The State of Health in the WHO African Region. Geneva: WHO, 2018, at  https://www.afro.who.int/publications/state-health-who-african-region

[8] Ibid.

[9] African Centre for Strategic Studies, Mapping Risk Factors for the Spread of COVID-19 in Africa. 3 April 2020. https://africacenter.org/spotlight/mapping-risk-factors-spread-covid-19-africa/

[10] Okonja-Iweala, Ngozi, ‘Ebola Lessons in Fighting COVID-19’. Project Syndicate, 1 April 2020. https://www.project-syndicate.org/commentary/africa-ebola-outbreak-lessons-for-covid19-by-ngozi-okonjo-iweala-2020-04

[11] European Commission, Joint Communication to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions: Communication on the Global EU Response to COVID-19.  Brussels: European Commission, 8 April 2020, at https://ec.europa.eu/info/sites/info/files/joint_communication_global_eu_covid-19_response_en.pdf

[12] Participants in the meeting were President Abdel Fattah al Sisi of the Arab Republic of Egypt, President Ibrahim Keita of the Republic of Mali, President Uhuru Kenyatta of the Republic of Kenya, President Felix Tshisekedi of the Democratic Republic of Congo, President Paul Kagame of the Republic of Rwanda, Prime Minister Abiy Ahmed of the Federal Republic of Ethiopia, President Macky Sall of the Republic of Senegal, and President Emmerson Mnangagwa of the Republic of Zimbabwe.

[13] The Presidency of the Republic of South Africa, From the Desk of the President, 6 April 2020, at https://mailchi.mp/presidency.gov.za/presi-desk-mon6april20

[14] Ibid.

[15] Ibid.

[16] Elliot, op cit.

[17] Ibid.

[18] Elliot, op cit.

[19] Reuters, ‘The IMF has $1tn war chest for fighting the virus,’ 3 April 2020, at  https://www.reuters.com/video/watch/imf-has-1tn-war-chest-for-fighting-the-c-id708033589?chan=8gwsyvzx

[20] Elliot, op cit.

[21] Lucy Lamble, ‘Africa leads calls for debt relief in face of coronavirus crisis,’ The Guardian, 25 March 2020, at https://www.theguardian.com/global-development/2020/mar/25/africa-leads-calls-for-debt-relief-in-face-of-coronavirus-crisis

[22] World Bank, ‘World Bank Group Increases COVID-19 Response to $14 Billion to Help Sustain Economies, Protect Jobs,’ Press Release, 17 March 2020, at https://www.worldbank.org/en/news/press-release/2020/03/17/world-bank-group-increases-covid-19-response-to-14-billion-to-help-sustain-economies-protect-jobs

[23] Peter Fabricius, ‘France and SA working on plan to help Africa deal with coronavirus pandemic,’ Daily Maverick, 7 April 2020, https://www.dailymaverick.co.za/article/2020-04-07-france-and-sa-working-on-plan-to-help-africa-deal-with-coronavirus-pandemic/

[24] Michael Stott, ’14 Latin American nations to seek IMF help to combat big recession,’ Financial Times, 5 April 2020, at https://www.ft.com/content/dfd1aeed-6d56-466a-be6c-7bb73fc8da23

[25] James Anyanzwa, ‘Bretton Woods’s $159m Covid-19 aid,’ The East African, 4 April 2020, at  https://www.theeastafrican.co.ke/business/Bretton-Woods-usd-159m-Covid19-aid/2560-5514004-evy4dgz/index.html

4 Ways to Develop Your Career

Whether you are already working and want to move up the ladder, or have just started to consider the career you would like to have, it’s a good idea to plan ahead. Having a clear set of goals and a good idea of how you are going to achieve them will all help to pave the way. You may, of course, deviate from your original plan as things develop and unfold, and that’s ok too. There are many ways to get to where you want to be, you just need to consider all your options. Here are 4 ways to develop your career.

 

Get the right qualifications

Whether you have always dreamed of being a high flying criminal lawyer or want to start an accountancy business, for example, then you need to work towards obtaining the right qualifications before embarking on your journey. Whether it be attending your local college or studying at one of the top London universities, you need to establish the educational requirements and work towards obtaining them. Your chosen field may well dictate the college or university you decide to attend. Many specialise in certain careers and subjects, and attending a prestigious educational facility could be favorably looked upon by recruiters further down the line.

 

Establish if there are any existing or future opportunities

If you are already working for a company that you love and would prefer to stay at, find out whether there are any existing or future opportunities that you might be suitable for. This will not only ensure that your superiors know that you are loyal and keen to progress within the company but could also lead to you being advised of any new roles or organisational changes before they happen.

For example, there may be opportunities for you to transfer to another office or even different countries. Such moves are generally managed via a relocation service company who will work with your employer to facilitate the process.

 

On the job training

Whilst you may be 100% competent at the job you currently do, it’s a good idea to widen your knowledge and skills wherever possible, particularly if those skills will help you reach your career goals. If there are any areas in which you feel you lack experience, but those skills would be relevant to the position you would like to end up in, speak to your line manager and ask for additional training. The better equipped you are, the more likely you are to progress.

 

Pastures new

Whilst you might love your current job, get on well with your colleagues, and be quite happy staying put for the next 10 years, it could end up staggering your career development. It’s very easy to become comfortable and stick with what you know, but is that going to help you move up the career ladder? If you have been with the same company for a long time and still haven’t achieved what you set out to do, it could be time for a change. Find out what other opportunities are available based on your skill sets and start applying for positions within other companies.

Regardless of where you end up and the career you end up having, the most important thing is to be proud of your achievements and never have any regrets.

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