Fourex: World-beating UK Saffers' invention busy disrupting forex forever

Loading player...
South Africans Jeff Paterson and Oliver du Toit are reshaping the way the world changes foreign exchange. Every day hundreds of Londoners swap foreign notes and coins at the handful of their Fourex machines spotted around London underground stations. Soon there will hundreds, perhaps thousands of the machines all over the world. Their invention will massively disrupt an industry where thousands of Foreign Exchange shops charge big commissions and refuse to accept coins or old notes. In this inspiring interview, Patterson tells the Fourex story to Biznews.com's Alec Hogg - explaining how the support of Radio 702's John Robbie and his listeners provided the game changer which lifted the fledgling company above thousands of others in the UK's high profile "£1m Pitch to Rich" competition which Fourex won. And how that win, and the subsequent endorsement from Virgin's Richard Branson, turned the world into their oyster. It's a tale of perseverance and resilience by two Johannesburg boys who never knew when to throw in the towel - and are revolutionising the way we deal with currency - one foreign coin at a time. Learn more about your ad choices. Visit megaphone.fm/adchoices
5 Jul 2016 3PM English South Africa Investing · Business News

Other recent episodes

Helen Zille on Joburg, coalitions and the price of power

She said she hadn't exchanged a single word with the ANC about a post-election deal. Helen Zille then told Alec Hogg who she thought was talking to them. The DA's Johannesburg mayoral candidate took on Corné Mulder's claim of a backdoor ANC pact and compared Gayton McKenzie's Patriotic Alliance to…
25 Sep 12PM 34 min

Why Jakkie Cilliers (ISS) guarantees Africa in 2050 will be far more stable than today

At a time when news headlines across Africa highlight political friction, economic distress and security concerns, a guarantee of better times ahead may sound almost provocatively optimistic. Yet Dr Jakkie Cilliers, founder of the Institute for Security Studies and head of its African Futures and Innovation Programme, bases that guarantee…
25 Sep 5AM 35 min

Andy Calitz on Eskom, the job he didn't get, and what came next

He was on the shortlist to run Eskom and lost out to André de Ruyter. Years later, Andy Calitz, who ran South Africa's transmission grid before a career that took him from Shell to Gazprom's control room and the helm of LNG Canada, still thinks about it most weeks. In…
25 Sep 3AM 55 min

Warren Wheatley breaks his silence on his FSCA debarment

Three trades, R301 in total, and a 20-year ban from the financial sector. Warren Wheatley, the chartered accountant who helped put together the Capitec empowerment deal and went on to found Altvest, now Africa Bitcoin Corporation, broke his silence to Alec Hogg days after resigning as CEO. The FSCA says…
23 Sep 12PM 54 min