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Reserve Bank calls for fintech entries to Hackcelerator

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The South African Reserve Bank (SARB) is calling on fintech firms to submit innovative and sustainable solutions to challenges identified within the financial services industry, for the 2019 Global Fintech Hackcelerator @ Southern Africa.

The Hackcelerator, backed by KPMG Matchi, is a fintech acceleration programme that creates a platform for solutions to complex financial challenges in the Southern African region. Fintech firms from anywhere in the world can apply to participate in the programme, to address problem statements constructed by the SARB. 

The SARB views such global fintech acceleration programmes as enabling processes to embrace fintech, while affording the opportunity for regulators to appraise benefits and risks in a balanced manner.

Shortlisted respondents will be invited to showcase their solutions at the Southern African Demo Day on 29 October 2019 in Johannesburg. On the Demo Day, a panel of judges from the SARB and the Financial Sector Conduct Authority, as well as local industry experts, will select and announce two winning solutions.

Each Global Fintech Hackcelerator @ Southern Africa 2019 winner will:

  • Receive a stipend towards travel expenses to attend the 2019 Singapore Fintech Festival
  • Get an opportunity to pitch their solution live during the Hackcelerator Demo Day at the 2019 Singapore Fintech Festival and engage with industry experts;
  • Receive funding to develop a contextualised proof of concept, to be deployed within a year from the Demo Day; and
  • Work with high-value corporates to contextualise a solution to their needs, while obtaining market entry into the Singapore and Asia-Pacific region.

The top three winners at the Singapore Fintech Festival will also receive a cash prize.

Applications for the Global Fintech Hackcelerator @ Southern Africa close at midnight on 8 September 2019. View the problem statements and complete an application form at https://matchi.biz/hackceleratorSA.

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New measures as video production comes to a halt

MultiChoice has announced a range of measures to safeguard the incomes of cast, crew, and creatives, as well as the sustainability of production houses.

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MutliChoice Group has confirmed that production of video entertainment has come to a complete halt in South Africa, as the industry adheres to the national lockdown.

Many sectors across the African continent are adjusting and finding ways to deal with challenges brought about by the current coronavirus pandemic. Among these, MultiChoice Group is one of the best-known brands across Africa, due to its dominance of the video entertainment sector. As a result, it says, it is acutely aware of the challenges its partners in the industry are facing. 

“For many years MultiChoice has been a leader in the sector and are a leading investor in local content production,” it said in a statement on Friday. “The group has deep rooted partnerships and long-standing commitments that have grown the industry for the benefit of many, both in front and behind the camera.”

For this reason, says MultiChoice, it has decided to implement several measures aimed at safeguarding the incomes of cast, crew, and creatives as well as the sustainability of production houses. 

“With these measures the group can hopefully steer the industry through this tumultuous time.”

MultiChoice announced the following measures:

  • “MultiChoice has set aside R80 million to ensure that current productions are able to pay full salaries of cast, crew, and creatives for the months of March and April, by when hopefully we will have the worst of the disruptions behind us. The need to secure salaries of our creatives goes a long way in creating income stability for them and their families. We believe this to be critical for the industry and in our view simply the right thing to do.
  • “Through the MultiChoice Talent Factory we will be launching an online learning portal that will support over 40 000 members of the industry to gain access to courses and online master classes, so they can continue to hone their craft whilst adhering to the public health measures of social distancing and isolation. 
  • “Furthermore, we have committed to guarantee the incomes of freelancers in our SuperSport Productions, who are currently unable to work due to the suspension of sport and the national lockdown. This extends to guaranteeing the income of freelancers in our broadcast technology environment.”

MultiChoice Group CEO Calvo Mawela said: “Our main concern is to ensure as much as possible that we secure the incomes of creatives, cast and crew over this period. We want to ensure that they and their families are not negatively impacted as work has come to a standstill.

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Nintendo South Africa launches online gameathon

Nintendo’s South African distributor has set up live events for virtual participation during lockdown.

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Being stuck inside doesn’t mean not being with the game. Players now have the chance to meet up virtually to play Nintendo Switch Online games like Ring Fit AdventureAnimal Crossing: New Horizons, and Pokémon Sword and Shield

A daily schedule is available for each game. For example, Ring Fit Adventure has a kids challenge at 9am from Monday to Friday, while adults can join in at 2pm. The challenges are co-ordinated by a dedicated Ring Fit coach. 

The challenge instructions will be available via the Discord channel. Join the channel via the invite here

Players of all skill levels are encouraged to join. Plenty tips and tricks will be shared about the games. 

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