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Telecommunications carriers have long grumbled that they spend a fortune building the world’s data networks only to watch the US technology giants reap most of the benefits. Now they fear Silicon Valley will take away their customers, too.

South African banks are reporting phenomenal growth in the use of banking apps despite the country’s finite banked population, stagnant levels of smartphone penetration and relatively low levels of financial literacy.

In this episode of the podcast, Duncan McLeod interviews newly appointed EOH Holdings CEO Stephen van Coller on the group’s disappointing 2018 financial results and how he plans to turn the situation around.