Author: Gugu Lourie
In a major breakthrough for renewable energy in Africa, the SOLA Group has announced the successful and early launch of the Springbok Solar Power Project. The 195-megawatt (MW) facility is the continent’s first multi-buyer, flexible energy wheeling plant. Delivered ahead of schedule, the project is a significant step in modernizing South Africa’s grid and creates a new model for large-scale solar development. It allows multiple companies to buy power from a single plant with flexible contract lengths, a first for the region. A Pioneering Model for Clean Energy This project brings SOLA Group’s total operational portfolio to 464 MWp, making…
Optasia, a major AI-powered financial technology platform, has announced a big step: it’s planning to list its shares on the Johannesburg Stock Exchange (JSE) and raise a significant amount of money from investors. The company is a global leader in providing instant financial services, especially in emerging markets. It uses artificial intelligence (AI) to offer loans and other solutions to people who are often overlooked by traditional banks. Key Facts About Optasia: Massive Reach: It operates in 38 countries and has about 121 million active users every month. High Volume: Its systems process over 32 million loan transactions every single day. Big…
Axiz, a leading technology distributor in Africa, today announced a distribution partnership with Nasdaq-listed Equinix, a global digital infrastructure company . The agreement expands Axiz’s portfolio by making Equinix’s data centre and interconnection solutions available to partners and customers across South Africa and the wider African region. The partnership links Axiz’s established distribution network with Equinix’s global infrastructure solutions. Businesses will gain access to colocation services at the Johannesburg IBX data centre (JN1), the Equinix Fabric® software-defined interconnection service, and the wider Equinix ecosystem of cloud providers, networks, and enterprises. Axiz said the agreement strengthens its portfolio and enables its…
Here’s a simple idea for the new bosses at Canal+: sometimes, the smartest way to win is to make your world less complicated. The French media giant has just bought MultiChoice, and with it, control of Africa’s pay-TV landscape. But the highly publicised purchase comes with a problem; a needless, self-inflicted one. Buried inside this deal are two streaming services – DStv Stream and Showmax – essentially competing for the same customers. This isn’t a strategic move; it’s a classic case of what economists call inefficiency. Think of it like owning two bakeries on the same street, selling similar bread…
In a major move that reshapes the European online classifieds landscape, OLX Group has agreed to acquire leading French auto platform La Centrale for €1.1 billion, signaling a major push into Western Europe powered by artificial intelligence. The deal, expected to close by year-end, grants OLX an immediate leading position in France’s large and dynamic used car market. The acquisition is a strategic leap for OLX, which operates thriving marketplaces in Central and Eastern Europe. La Centrale, with its strong brand recognition, deep dealer relationships, and approximately 4.5 million monthly unique visitors, provides the perfect entry point into Western Europe.…
In a major move signaling the rising strategic importance of emerging markets, PayPal has pledged a landmark $100 million investment to fuel the digital revolution across the Middle East and Africa. This substantial commitment, announced from its regional hub in Dubai, is designed to supercharge one of the world’s fastest-growing digital commerce landscapes. The funds will be strategically channeled to empower local entrepreneurs, accelerate the growth of small and medium-sized businesses, and integrate millions of new users into the digital financial ecosystem, positioning PayPal at the forefront of the region’s unprecedented economic transformation. “The Middle East and Africa are home…
In a move that reshapes the African media landscape, French conglomerate Canal+ has officially assumed control of MultiChoice Group (MCG) after its mandatory takeover offer was declared unconditional. The completion triggers a sweeping executive overhaul, creating a new integrated leadership structure for its expansive African operations. Maxime Saada, CEO of CANAL+ said: “Today marks an important step forward for CANAL+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity… I look forward to providing the market with a more detailed update on the strategy of our combined group during the first quarter of next…
Joanna Govender, CEO of the Empire Partner Foundation (EPF), has just won at the Women in Tech Africa Awards 2025. She took home the award for ‘Most Impactful Initiative,’ securing her spot to represent the entire African continent at the global finals in Paris this November. This iconic event in Paris is the grand finale of a massive three-month world tour that honoured women tech leaders across seven regions: LATAM, North America, Africa, Europe, APAC, MENA, and Caucasus and Central Asia. The best from each region will now compete for the global title. The award celebrates EPF’s groundbreaking work using…
If you want to understand the future of a country, look at what it drives. For decades, South Africa’s roads have been dominated by the dependable, fossil-fueled stalwarts of Volkswagen Polo, the Toyota Corolla. the middle class and the rich driven in BMW, Mercedes and Volvo, while the rich cruzing on Range Rovers and Porsche. They were symbols of aspirational, practical mobility. But last week, that status quo was handed a pink slip. The world’s biggest electric vehicle maker, Build Your Dreams (BYD), didn’t just enter the South African market; it declared war on the internal combustion engine with a…
The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 7%, with the prime lending rate to also remain at 10.5%. This was announced by SARB Governor Lesetja Kganyago following a meeting of the bank’s MPC. “Four members preferred to keep rates on hold, while two favoured a cut of 25 basis points. Since September last year, we have reduced rates by 125 basis points, and we want to see how this is affecting the economy, how expectations evolve, and how inflation risks are resolved. “The forecast has rates easing gradually, as…