Cash remains key for local businesses during holiday rush

As one of SA’s busiest trading periods, the holiday season presents businesses with a critical opportunity and challenge: managing cash safely and efficiently. Despite the rise of digital payments, cash remains the backbone of commerce, especially in townships and informal markets, where over 59%of transactions are still cash-based, according to data from Standard Bank SME clients. Effective cash management, especially during busy periods such as the holidays, is more than operational, it is a strategic advantage.

Higher footfall and extended trading hours mean larger daily takings and more frequent cash-handling moments. Without robust processes, businesses risk delays, errors and exposure to crime. “The holiday season offers strong trading opportunities, but it requires businesses to be intentional about how they manage both front-of-house and back-office cash activities with risk in mind,“ says Dwain Breedt, head of Cash and Distribution: Business and Commercial Banking at Standard Bank SA.

“Managing cash smartly on-site reduces risk and drives efficiency in daily operations. Businesses should limit holding excess amount of cash on-site as far as possible, schedule regular banking of cash deposits, and use secure banking channels to reduce risk”. Historically, SA has experienced a spike in cash-related robberies at this time of year, making security a top priority.

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To mitigate associated risks, cash-intensive businesses should seek a banking partner that providessafe and efficient solutions and servicestailored to their specific cash management needs, including: These services help businesses streamline operations, reduce exposure to theft, and maintain confidence during peak trading. It is evident that the businesses that prioritise secure and efficient cash management should be best positioned to enter the new year stronger, and Standard Bank stands ready to support these operators withcash management solutionsthat safeguard revenue and streamline operations. Whether an entity is starting out, managing business complexities, or growing its operations, the bank’s cash management solutions enable it to turn possibilities into opportunities for the businesses that power Africa’s vibrant economy.

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