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

Juanita Du Preez: Police- and political capture - more worms crawl out the can…

There have been dramatic scenes in Parliament where the Ad Hoc Committee has resumed hearing testimony of police and political capture. In her latest interview with BizNews, Juanita du Preez of Action Society speaks to Chris Steyn about Crime Intelligence (CI) Chief General Dumisani Khumalo’s warning that criminal organisations survive…
21 Jan 6AM 22 min

The Editor's Desk - Wed 21 Jan 2026: A fading global order and the Trump liability

In today’s analysis, we explore Mark Carney’s powerful address at the World Economic Forum, where he urges middle-ground nations like South Africa to "name reality" and act together against the rivalry of global giants. We also examine why right-wing parties in France and Germany are increasingly distancing themselves from Donald…
21 Jan 4AM 16 min