iKhokha, the fintech company dedicated to fostering growth for South African small businesses amid challenging macroeconomic conditions, hosted its first iKhokha Elevate event in Durban on Wednesday, 12 March. The event, which saw hundreds of merchants attending in person and thousands more joining online, centered around discussing the challenges and successes of small businesses. It also marked the official launch of iKhokha’s full business ecosystem, reinforcing their mission to become the leading operating system for SMEs in South Africa.

As a start-up founded in 2012, iKhokha is today one of the fastest growing fintech companies in Africa and is redefining the way SMEs do business through mobile innovation. iKhokha’s financial services platform empowers entrepreneurs to accept both in-person and online payments, as well as providing access to working capital and a portfolio of easily accessible business management tools to streamline processes and support growth. To date, iKhokha has processed over 307 million card transactions, put more than R2 billion in business owners’ hands through their iK Cash Advance offering, opened 16 iKhokha stores nationwide and developed 17 tools to enhance business operations.

According to a recent survey conducted by iKhokha, 63% of merchants reported difficulties in scaling their inventory system, while 72% highlighted cash flow issues as a significant challenge. Additionally, over half of South African businesses are not using financial management software, which can complicate their operations. iKhokha provides an array of affordable, easy-to-use solutions and tools which enable seamless payment processing, quick access to business funding, invoicing, inventory and stock management, and financial reporting, all in one integrated platform.

In a highly competitive market, iKhokha has distinguished itself by providing the best support, the fastest payment processing, the quickest payouts through iK Debit Cards, and the most accessible funding options in South Africa.

“At iKhokha, we help SMEs believe in building a better future. Our mission is to promote financial inclusion by developing and delivering business tools for all entrepreneurs.

Our ecosystem goes beyond providing card machines, with our SME operating system designed to empower small businesses and entrepreneurs with the knowledge and tools they need to help their businesses flourish and grow in South Africa,” says iKhokha co-founder and CEO, Matt Putman.

iKhokha Elevate, which was held at iKhokha’s head office in Umhlanga, focused on three essential pillars for SME success: cash flow, digital commerce and business management. Highlights of the event included feedback from business owners and entrepreneurs who have overcome challenges, built successful businesses, and leveraged the right support, tools and resources to drive growth and resilience in their ventures.

These included Jabu Malungane, founder of Jabu Atchar. His business, which is based in Thembisa, Gauteng, has grown from selling mango atchar outside shopping malls to now distributing through retail customers in Eswatini, Botswana and Lesotho, with Jabu selling locally through certain Pick ‘n Pay and Spar outlets as well as in various fruit and vegetable markets. Jabu shared how iKhokha’s Cash Advance product had been an instrumental part of his business growth. Jabu’s advice to others wanting to start their own business is very clear – find something that you love and build a business around that.

June Omondi, the owner of Kamango in Maboneng, also featured at the event. June was one of the early adopters of iKhokha’s digital products, which enabled her to sell custom-made clothing to international tourists by sending them an iK Pay Link to accept payments. As a business owner for many years, June recognises both the importance of being self-sufficient as well as the ability to employ people so that they can earn a living and support their families – lessons in entrepreneurship that she is passing onto her children. June says consistency and perseverance are key to building a business but adds that you don’t have to be tech savvy to use and benefit from iKhokha’s products.

Christian Mkhize, founder of Collab Cafe, is another entrepreneur who spoke about the benefits of using a business suite of tools like the iKhokha Dashboard to help visualise money movement and also touched on the importance of having your finances in order. When finances aren’t managed, a business can face challenges such as poor cash flow management, difficulty making informed decisions, limited access to funding, and the risk of non-compliance with tax obligations, all of which can restrict growth and stability. “Your business has a pulse and you need to feel that pulse,” he says.

Attendees also heard from the iKhokha team about business best practice, some shared stories of the obstacles many entrepreneurs face in growing a business, and some guidance on what exciting new product releases are coming next to further strengthen iKhokha’s growing SME ecosystem.

“We remain committed to building the business tools that SMEs need to thrive in this fast-moving digital world. We know that building a business is a journey, and every step should be taken together. We’re here to equip, support, and elevate you every step of the way, because when you grow, we grow and if we all grow then South Africa grows too” Putman says.

In an about-turn from the status quo over the past five years, the movement by companies to demand a full return to office is gaining momentum, locally and globally.

But while it might seem like a no-brainer for employers to demand a return to in-person, in-office 5 days a week, this will severely impact their ability to retain top talent, a leadership expert says.

“Flexibility is one of the key negotiation tools that will impact on a company’s talent density. Talent density refers to the concentration of high-performing individuals within an organisation, and it is a key driver of innovation, productivity, and overall business success,” says Advaita Naidoo, Africa MD at Jack Hammer, Africa’s largest executive search firm.

“Employers considering a forced return to traditional five-day office schedules should be prepared for potential talent losses. Top talent will seek out employers offering the best choices, including flexible work arrangements, and at scale, this is going to impact negatively on talent density.”

Naidoo says Jack Hammer has noticed an uptick in high-level candidates putting out feelers for roles and companies that aren’t demanding full RTO.

“When speaking with candidates, the ability to offer structured flexibility is a major draw for those facing strict return-to-office mandates. For those seeking to advance their careers and are currently employed on a flexible basis, it is a non-negotiable.

“Flexibility is not just a retention tool but a negotiation tool that significantly impacts talent density—a critical factor in both productivity and excellence. Companies with the best talent are better positioned to excel, making it imperative to attract and retain top performers, hence our warning to employers not to revert to a one-size-fits-all strategy, thinking they hold all the cards.”

According to recent reports, 60% of South African employers were moving away from remote work arrangements, aligning with their global counterparts. Research by McKinsey shows that the proportion of employees working mostly in-person has increased significantly, from 34% in 2023 to 68% last year. This shift was driven by employer mandates, not employee preference.

While the local and global RTO trends suggest employers clearly feel they have the upper hand where mandates are concerned, this does not extend to top talent.

“Just because everyone is doing it, doesn’t mean you have to. Companies that prioritise flexibility are better positioned to attract and retain the best talent, as they offer a work environment that supports work-life balance and autonomy. While employees may initially comply with strict RTO mandates, top talent will seek out better opportunities when they arise. This is particularly true for those who value flexibility and have the option to choose employers that offer it.”

THE EARLY CAREER CAVEAT

While Jack Hammer advises organisations to carefully consider their RTO mandates, they also urge early career professionals to embrace the opportunity rather than see it as a drawback, Naidoo says.

“As an early career professional, it is important to recognise that while remote work offers flexibility and convenience, it will hinder your career growth and trajectory. Too many young people hold out for a flexible or remote position not realising that they are shooting themselves in the foot by doing so.”

Naidoo says starting a career in a remote setting is guaranteed to slow down the learning process.

“Being in the office allows for immediate feedback, hands-on training, and the opportunity to absorb the nuances of the job more quickly. In-person interactions facilitate a deeper understanding of workplace dynamics and etiquette, which are essential for professional development.”

The opportunity for informal learning, networking and progression is also hampered.

“Much of what you learn in an office environment is not explicitly taught but rather absorbed through observation and interaction with colleagues. This informal learning includes understanding how to conduct oneself professionally, both formally and informally, which is vital for career advancement.

“Being in the office also increases visibility and provides opportunities to build relationships with colleagues and superiors. These connections are crucial for career advancement, as they help establish social and corporate political capital. Ambitious professionals recognise that success depends on being seen and valued by others within the organisation. If you are sitting at home, your in-office colleague will very likely leave you in their wake.”

Naidoo says spending at least the first three to six months in the office can be highly beneficial.

“This period allows you to establish a strong foundation of skills, relationships, and workplace understanding. After this initial phase, you can start to leverage flexibility options to maintain a better work-life balance, if you have proven yourself to be a talent to watch.”

Load shedding made a brief, yet startling return in February and now of recently in March, before Eskom was able to reconnect downed generation units. Keegan Beyers, Renewable Energies Product Manager at Rectron says the temporary lull in outages gives property owners a bit more time to research the best system for long-term energy resilience.

With limited fossil fuel capacity and aging power stations, loadshedding is something we may have to manage for the foreseeable future. The nearly year-long lull in nationwide scheduled power outages was broken recently after 309 days.

For a brief period in February and March 2025, the unwanted text messages came back announcing the dreaded return to darkness. All this amidst heavy rains and a gradual collapse of the water system.

Between 2024 and 2025, Eskom went over 300 days without staged blackouts, around the same time the country’s Government of National Unity came into being.

As of 09 March 2025, the utility has suspended loadshedding.

While this pause may offer temporary relief, the reality is South Africa’s power stations are aging.

In recent years, commercial finance for coal fired power stations has been halted due to environmental, social and governance (ESG) concerns.

This means there is no new capacity in the current pipeline to power South Africa’s industry and infrastructure. This means limited power for a rapidly growing population and the economy to feed it.

Increasingly, alternative energy solutions have become a necessity, rather than a reaction to short-term crisis.

Sabotage and illegal connections are making Eskom’s job even harder, increasing security costs to protect endless kilometres of transmission lines.

Also, the distance between generation (power stations) and distribution (local municipal based stations) means a huge chunk of generated power is wasted away as thermal losses.

Cost climbing

This difficult climate is accelerating the increase in the cost of producing electricity in South Africa. Recently, the National Energy Regulator of South Africa (NERSA) approved a 12.7% power tariff increase for Eskom. While this was less than the initial 36.15% requested by the utility for 2025 (part of a 66% three-year increase), it is still much higher than the consumer inflation rate of 3,2%, last recorded in January 2025 (up from 3% in December).

While Eskom’s legacy power stations seem stable, global instability is pushing up energy costs. This will, in turn, drive up the cost of living and the overall cost of doing businesses. Rather than wait until the next series of power cuts, consumers must proactively begin making the transition to their own off-grid renewable systems.

Renewable cost decreasing

According to the Institute for Energy Economics and Financial Analysis, renewable technology cost has been steadily decreasing, while volatile global fossil fuel commodity prices have risen sharply over the past decade. The institute reports that the cost of electricity from utility-scale solar PV fell by 85 percent between 2010 and 2020, concentrating solar power (CSP) by 68 percent, onshore wind by 56 percent and 48 percent for offshore wind.

Smart power

Smart power is about more than just cutting emissions but getting the most out of solar systems. This is about delivering the correct amount to those who need it, at the right time, and from the most sustainable sources. Powered by artificial intelligence (AI) systems, smart grids use complex, evolving data models to generate the most efficient, flexible and responsive generation, storage and transmission schedules. As AI evolves to meet the advances in technology and the changes in the environment, we can expect AI to be at the forefront of creating smarter, cleaner, and more sustainable energy grids.

Conclusion

The pause in load shedding may create a sense of stability, but this is short-lived. Now is the time to invest in a long-term, backup energy solution.

With readily available stock from suppliers such as Rectron, improving affordability, enhanced safety and greater efficiency, buyers have the opportunity to research and select the best long-term power solution. The return of loadshedding, as brief as it was, should serve as a reminder that power disruptions will continue in the foreseeable future, reinforcing the need for proactive energy planning and self-generation.