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

Zuma in crisis: Disgruntled MKP members to vote ARU - Jabulani Khumalo

In his latest interview with Chris Steyn, the real founder of MKP, Jabulani Khumalo, comes out in support of The African Renaissance Unity Party (ARU) founded to lobby for the interests of traditional chiefs and their communities. With Khumalo's battle to reclaim control of the party - “hijacked” by former…
27 Jul 10AM 17 min

Eva Crouwel - When the State comes to your Gate….

An anti-immigration raid on a private housing estate in the Western Cape is causing a furore. In this interview with Chris Steyn, Eva Crouwel, a property owner on High Riding Estate, describes how police in a fleet of about six vans - accompanied by Home Affairs officials - descended on…
27 Jul 7AM 10 min

BN Daybreak: SA-Israel tension; Nvidia-OpenAI deal; US tariffs; Fed rate outlook; Energy Risks

In today's BizNews Daybreak, we explore global market pressures, starting with new US Section 301 tariffs affecting South Africa and 60 other economies. Former Israeli adviser Mark Regev discusses strained Pretoria-Israel relations and ICJ genocide charges. Furthermore, we preview upcoming central bank rate decisions, Nvidia’s potential $250B OpenAI data center…
26 Jul 11PM 14 min