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Retail Tech | What to Expect in 2024

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Retail Tech

With technology constantly on the move, the retail industry has no choice but to adapt to keep pace and up to speed with the broader changing face of consumer expectations

JOHANNESBURG, South Africa, February 6, 2024/APO Group/ — 

Once upon a time (literally like last week!) a shopper popped in for a quick pre-holiday shop. Welcomed by a Bot that offered personalised suggestions based on previous purchases – a hassle free push to make their experience “more than”. Drawn into the clothing section, smart mirrors gave them the option to virtually try on different outfits – mixing and matching, changing colours plus the  option to share their looks with friends for their opinions. Casually tapping their smartphone at the automated checkout, the cherry on top. Engaging, accessible and valuable – offering an experience based on their unique preferences and habits.

Mike Smollan, Chief Growth Officer at Smollan gives a high level of how tech partnered and reshaped the retail industry last year and where we are headed in 2024.

With technology constantly on the move, the retail industry has no choice but to adapt to keep pace and up to speed with the broader changing face of consumer expectations. In 2023, this included advancements in AI, AR, contactless payments, data analytics, and omni-channel integration and the convenience of shopping from anywhere, at any time. Add to the mix on the one hand hyper personalisation and, on the other the reality of growing supply chain complexities. Retailers and brand owners that capitalise on these trends and meet the challenges head on, can unlock enhanced opportunities for growth, putting them ahead in an increasingly competitive market. The complexity of which is seen not as a single innovation but a broader network of advancements that shape the future.

Admittedly, easier said than done yet an iconic chapter in retail history that cannot be ignored. According to www.N-iX.com, investments in retail technology soared to an impressive $109Bn in 2021 alone. Further entrenching the competitivity of it all, McKinsey reported that omnichannel customers spend 1.7 times more than single-channel shoppers. In addition, a recent Forbes article highlighted the fact that the narrative isn’t that the retail industry needs to adopt technology; it’s that as a whole retailers and brand owners are becoming technology companies. Where the shift is not merely operational but cultural, requiring continuous learning and adaptability in the face of change. A future both from a customer facing perspective and also within organisations, where technology acts as a bridge between the digital and physical words, creating a retail ecosystem that is efficient, personal and above all, inclusive.

At a glance, from the ‘first month refreshed vantage point’ that a new year offers, in terms of emerging tech trends that will disrupt the retail space as we settle into 2024, according to www.Retail.com include – driverless deliveries by robots and drones; a combination of IoT, AI and ML (a subset of AI that involves training machines to learn from data and make predictions or decisions) powered solutions to control supply chain and inventory management processes; re-platforming faster, safer and convenient ways of making payment such UPI payments and contactless cards; personalised product offerings using tech like ML and data analytics and, further enhancing hybrid and omnichannel customer journeys.

Looking ahead in terms of physical stores, new technologies will shape the store of the future. As detailed by www.ThalesGroup.com this includes – image recognition where for example you walk into a café and your preferred order is filled just by scanning your face; phygital retail services such as click and collect; AR and VR helping customers visualise products when tried on; push notifications as customers walk into a store highlighting deals on favourite products; automated stock replenishment and, cashier less shops.

Closer to home, practicalities force adaptation and innovation, the most obvious being the continued battle that is loadshedding. Over and above that, Head of engineering at redPanda, Neil Coetzee writing for www.BizCommunity.com said that while technology will power great innovation it needs to be ambient and ready to enrich an experience, as opposed to being explicit and in one’s face. Furthermore, he gave a nod to the great deal of local innovation in South Africa (SA), with our long history of leapfrogging entire generations of technology out of circumstance and necessity. At the other end of the scale he cautioned against ‘catchphrase fatigue’ in the market, the likes of AI and RFID, with many businesses looking the other way instead of bringing workable solutions to the table.

That said, technology in retail is revolutionising shopping in SA as retailers and brand owners invest in the future where convenience, efficiency and personalisation hits the sweet spot all round.

Distributed by APO Group on behalf of Smollan.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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