A new study from Mastercard reveals a significant wave of optimism among South Africa’s small and medium enterprises (SMEs), with half feeling positive about the year ahead.
South Africa’s small and medium enterprises SMEs are increasingly demonstrating real digital sophistication in the way they do business. South African online payment acceptance of those surveyed is among the highest in the EEMEA region at 80%, and most businesses in the study already rely on dedicated business cards to manage their spending. The study shows that, even as they navigate an evolving economy, half of South African SMEs are optimistic about the year ahead and 43% expect their revenue to grow.
The Mastercard SME Confidence Index is a multi-market study that captures the sentiment, priorities and growth outlook of SMEs across Eastern Europe, the Middle East and Africa, including South Africa.
South African SMEs that took part in the survey demonstrate a strong digital foundation. Alongside high online payment acceptance (80%), bank transfers are well established and account for the majority (64%) of transaction volumes. Businesses see the greatest potential for growth in providing simple, seamless and user-friendly payment methods (55%), closely followed by ensuring safe and cyber-secure payment processing (51%), pointing to a clear focus on both convenience and trust.
