Mastercard SME Confidence Index: South Africa’s SMEs put digital tools at the heart of their growth plans
A new Mastercard SME Confidence Index shows South African SMEs are embracing digital payments and remain optimistic about growth over the next year.
South African small and medium enterprises (SMEs) are embracing digital tools as a cornerstone of their growth strategies, according to the latest Mastercard SME Confidence Index. With online payment acceptance at 80%, a high rate among Eastern Europe, the Middle East, and Africa, SMEs in South Africa are demonstrating strong digital maturity.
Dedicated business cards are a common financial management tool, with 64% of transactions occurring through bank transfers. The study reveals a clear focus on convenience and trust, as businesses prioritize simple, seamless, and user-friendly payment methods (55%) and safe, cyber-secure payment processing (51%).
Despite economic challenges, half of South African SMEs surveyed are optimistic about the year ahead, with 43% anticipating revenue growth. The Mastercard SME Confidence Index assesses the sentiment, priorities, and growth outlook of SMEs across the region. Gabriel Swanepoel, division president for Africa at Mastercard, emphasizes the region's strong digital foundation and the company's commitment to providing secure, seamless solutions to help SMEs achieve sustained growth.
Onur Kursun, executive vice president for Commercial and New Payment Flows for Eastern Europe, the Middle East, and Africa at Mastercard, highlights the resilience and adaptability of South African entrepreneurs, who are increasingly embracing digital capabilities and innovation.
The study indicates that South African SMEs value commercial maturity and disciplined financial management, with 85% using business debit or credit cards for expense management. Looking forward, enterprises prioritize training and upskilling their teams, effective regulatory support, and enhanced physical and digital security, as well as seeking external funding and additional credit to fuel expansion.
As South African SMEs harness digital innovation and build their commercial discipline, the Mastercard SME Confidence Index underscores their resilience and readiness to seize new opportunities, positioning them for success in a more inclusive and dynamic digital economy.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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