Author: Contributor

By Staff Writer Digital Cabinet, South Africa’s cloud storage startup, has mandated HAVAÍC to undertake a R5m capital raise, which includes the conversion of the convertible loan, extended in July 2016, into equity. The capital raise is based on the Company’s estimated valuation having doubled in the intervening period, said HAVAÍC, which is investment and advisory firm that specialises in early-stage, high-growth African businesses with proven concepts and global prospects. Several of the convertible loan participants and all the HAVAÍC principals have committed to subscribe for additional equity. HAVAÍC is now engaging with its wider investment community to close the…

By Staff Writer Dark, washed out and altogether mediocre photographs of real estate with vague descriptions appearing online are a memory best left in the past thanks to a new, highly visual property portal enabling home-seekers to shop for – and walk through – properties online. South Africa’s e-commerce platform, PriceCheck, has launched its latest offering, a Property Portal, on the popular e-commerce website. Kevin Tucker, founder of PriceCheck, said that recent changes in the online real estate space, including the merger of two large incumbents, have made room for another player, “one which prioritises innovation and can digitally walk…

By Staff Writer Siemens, a Germany-based technology company, is planning to buy Crabtree Electrical Accessories (Crabtree) from Powertech for an undisclosed amount. Powertech is a subsidiary of South Africa’s JSE-listed Altron, which is in a process of cleaning up its balance sheet. The JSE-listed firm informed investors on Monday morning that it has entered into an agreement whereby it will dispose of Crabtree to Siemens AG. “The disposal of Crabtree is part of the implementation of Altron’s business strategy to focus on its information technology and telecommunications business and exit its manufacturing operations,” the company said in a statement. The…

By News Agency Staff Hamburg – Chinese President Xi Jinping says the Group of 20 (G20) members should build a digital economy that is friendly to growth and employment. He made the remarks while attending the two-day G20 summit in the German port city of Hamburg. “We should actively adapt ourselves to digital evolution, foster new economic drives, advance structural reforms and promote integrated development of digital and real economy,” said President Xi. To this end, he proposed to implement the G20 Digital Economy Development and Cooperation Initiative and the New Industrial Revolution Action Plan, both adopted at last year’s summit in Hangzhou,…

By Staff Writer Amazon, one of the world’s largest tech companies, is looking at opening a data centre in South Africa to service its large customer base, its chief technology officer, Werner Vogels, told Business Times on the sidelines of the company’s summit in Cape Town. Billionaire Jeff Bezos founded Amazon. Some of the companies using Amazon Web Services’ includes Absa, Pick n Pay and Zapper. Amazon will compete with rival Microsoft, which recently announced news to build data centre in Cape Town. In May, Microsoft announced plans to deliver the Microsoft Cloud — including Microsoft Azure, Office 365 and…

By Staff Writer The company that makes high-end cameras for Hollywood movies RED is making a premium smartphone called ‘Hydrogen One’, which features hydrogen holographic display. The Hydrogen One – which uses nanotechnology to seamlessly switch between 2D content, holographic multi-view content, 3D content and interactive – will support VR and AR content, and includes a built-in algorithm. The smartphone maker said the device will ship in early 2018. It is currently available for pre-order on RED’s website. The phone starts at $1,195 (R16, 135.00) for the aluminium version, and $1,595 (R21, 536.00) for the titanium version. Also read: Dual camera…

By Staff Writer Urgent intervention to bring down the price of mobile data is an obvious priority for South African consumers and the country’s Minister of Telecommunications & Postal Services, but not equally so for the country’s telecommunications regulator. While 87% of South African households use mobile exclusively to communicate, the Independent Communications Authority of SA (ICASA) has placed intervention in one of the world’s least competitive mobile data spaces on the back burner while it sets out to determine what its priorities should be. According to the latest StatsSA General Household Survey, the exclusive use of cellphones was most…

By Viresh Harduth Tax filing seaso kicked off this week and millions of South Africans are planning to file their annual returns in the given time frame. If you’re one of the many people who have left corporate employment to start a home-based business or join the gig economy, you may be facing the challenge of filing a return under your new status for the first time. “Whether they’re driving for Uber, offering freelance programming or graphic design services, or making artisanal crafts and cuisine at home, we’re seeing more and more South Africans pursue their entrepreneurial passions as a full-time…

by Karl Blom, Associate at Webber Wentzel The rise of the FinTech industry may herald a significant upheaval to the financial services industry, and significant opportunities (and risks) await those who wish to participate. Novel data processing techniques are a key aspect of many FinTech businesses and with such a rapid pace of innovation, there is a concomitant rise in the risk of data breaches. It is vital for FinTech companies to be aware of their obligations in the event of a data breach. Obligations in respect to data breaches The Protection of Information Act, 2013 (POPI) requires you to…

By Karen Mesoznik, SaferVPN What You Should Know About Public Wi-Fi Usually when you’re preparing for an upcoming trip, your mind runs through the usual concerns and questions: “What vaccinations do I need?” “Is my passport up-to-date?” “What do I need to keep my cash and cards safe?” But if there’s one more travel habit you should have, or precaution you should take, it’s staying safe over public Wi-Fi. Today, public Wi-Fi at airports, hotels and cafes, is a lot like water at a restaurant – it’s an expectation, not a gift, a commodity, not a luxury. But what if the…