member news
Addressing the Human and Technical Gap Across industry, there is growing concern that forex management has become overly automated and depersonalised. Many companies are left navigating call centres or generic online systems, with little understanding of how to mitigate risk or make informed timing decisions. BeztForex COO Danica Bezuidenhout argues that this lack of hands-on service often costs businesses more in the long run not just in rates, but in lost opportunity and administrative delays. “Our model combines technology with personal guidance through a dedicated portfolio manager, which may prove useful to smaller Sassda members without in-house forex departments,” she explains. However, the company is careful to frame its role as complementary rather than competitive. Its function is to support clients, by handling the groundwork and ensuring all SARB and compliance elements are correctly in place before funds are transacted. Knowledge Sharing and Skills Development One of the practical commitments BeztForex has made to Sassda is to share knowledge rather than only offer services. The company will be contributing regular commentary, analysis, and educational content for distribution through Sassda’s channels, covering topics such as global currency trends, trade risk management, and the regulatory landscape around foreign exchange. Plans are also underway to host member workshops and online sessions on issues such as grey listing, short-term trade insurance, and understanding financial surveillance procedures. These will be provided at no charge and tailored to the realities of the stainless steel trade environment. The intent, according to Bezuidenhout, is to make international finance “less intimidating and more accessible,” particularly for businesses that may be new to exporting or expanding into new markets. Looking Ahead: Collaboration for Competitiveness As Sassda continues to strengthen its member network through cross-sector partnerships, financial intermediaries like BeztForex have an important role to play in unlocking new efficiencies. By simplifying forex processes, clarifying compliance, and promoting cost transparency, such partnerships can reduce barriers to trade-freeing stainless steel producers and fabricators to focus on what they do best: innovation, production, and market growth. BeztForex’s national digital model and its collaborative approach make it well positioned to support Sassda’s vision of a more connected, competitive, and opportunity-driven stainless steel ecosystem. “We’re excited to be part of an industry association that values collaboration. If we can help members trade more
effectively, particularly as Africa’s markets open up. That’s a win for the whole value chain,” says Bezuidenhout. As the industry continues to navigate global uncertainty, partnerships that merge financial acumen with industrial insight may well prove to be the quiet enablers of South Africa’s next growth chapter.
*For more information e-mail kevin@beztforex.co.za or call: +27 82 573 032.
Quick Insight: Five Common Forex Challenges for Stainless Steel Exporters and Importers 1. Currency Volatility - Rapid fluctuations in the rand against major trading currencies can quickly erode margin, especially for companies quoting prices weeks or months in advance. Many SMEs underestimate the value of forward cover or rate- fixing strategies to protect profitability. 2. Hidden Transaction Costs - Not all exchange rates are created equal. Small variations in bank spreads, handling fees, and payment delays can add up to significant losses over a financial year. Transparency in pricing remains a key issue, particularly for smaller firms. 3. Delays in Regulatory Approval - South African Reserve Bank (SARB) applications for international payments or foreign investments can slow transactions when documentation is incomplete or incorrectly structured. Working with specialists who understand SARB protocols can save time and avoid penalties. 4. Limited Access to African Currencies - Trading within Africa often means dealing with liquidity shortages or currency controls in partner countries. This can complicate settlements, extend payment timelines, or even halt supply chains. Proactive planning and local partnerships are essential. 5. Lack of Internal Expertise - Many manufacturers still manage foreign exchange reactively rather than strategically. Without a clear risk framework or access to financial guidance, decisions are made under pressure, often costing more than necessary. Building financial literacy at all levels of the business can change that
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Issue 4 – 2025
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