Author: Gugu Lourie

First Deputy Chairman of the Sberbank Executive Board talks at the Russia–Africa Summit African nations can leverage Russian technologies, ranging from construction and IT solutions to digital mapping, medical services, education, and settlements in national currencies, said First Deputy Chairman of the Sberbank Executive Board Alexander Vedyakhin at “More Than Infrastructure: Smart Cities in Africa,” a session of the Russia–Africa Economic and Humanitarian Forum. The session addressed the necessity of using national currencies for settlements to foster cooperation between Russia and Africa. The speaker noted that conducting transactions in rubles is a key avenue for strengthening business ties. Alexander…

Airtel Money has announced robust financial results for the half-year ended 30 September 2026, marking a significant milestone as the company’s first reporting period since its oversubscribed listing on the London Stock Exchange. The African digital financial services leader reported double-digit growth across key metrics, driven by rapid customer adoption and the expansion of its digital ecosystem. The company’s performance was highlighted by a 34.0% increase in revenue to USD 830 million in reported currency, supported by a surge in transaction volume and an expanding user base. Operating Highlights The Group’s customer base grew by 18.7% to 56.7 million, pushing…

Despite massive investments and widespread hype around artificial intelligence, the technology has delivered “zero financial payoff” to most large U.S. companies outside the tech industry, according to Torsten Slok, chief economist at Apollo Global Management. In a recent note, Slok wrote that AI’s financial benefits remain concentrated in the Magnificent 7 mega-cap tech companies, while the broader S&P 493 is seeing little to no improvement in key metrics. “Revenue per worker is rising for the Mag 7 but is flat for the S&P 493,” Slok wrote. “Profit margins are rising for the Mag 7 but are flat for the S&P…

Hello World Systems, a black-owned software company based in East London, is calling on South African businesses and public institutions to own the software they run on, instead of paying monthly licence fees for systems that never quite fit how they work. The company, which took second place in the SITA GovTech 2025 SMME Pitching Competition and is a member of the NVIDIA Inception programme for startups, builds custom software for its clients, hands over ownership, and then maintains and supports it for them. The NVIDIA Inception programme is a free program that guides AI startups through the NVIDIA platform…

Clinical data management organisation BioInformatiCo is preparing to open a seed funding round in the next two to three months to further develop and take its Leova AI platform beyond the operational environment in which it was built. The Johannesburg-based company has developed an AI platform that already automates key parts of clinical trial database development and testing, with further development focused on expanding its capabilities and application. The bottleneck: 10 to 20 weeks before a trial begins Every clinical trial starts with a protocol defining what researchers will investigate, who can participate, what information must be collected and how…

South African agricultural biosolutions company Afrikelp has been acquired by Sustainable Agro Solutions (SAS Group), backed by Stirling Square Capital Partners, following a period of international expansion and strategic development supported by RMB Ventures. The transaction positions the business within a broader international biosolutions platform and provides access to additional technologies, capabilities and markets to support its continued growth. Founded in South Africa, Afrikelp develops premium seaweed-based biostimulants derived from Ecklonia maxima, a kelp species harvested off the country’s coastline. Its products help improve crop performance, resilience and productivity and are used by farmers in more than 55 countries worldwide…

The Nobel Peace Prize for 2026 goes to a person who with exceptional courage and integrity has led the way towards a more comprehensive global legal order. This year’s laureate has been instrumental in ensuring that war crimes, crimes against humanity and genocide are prosecuted. The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 2026 to Navanethem “Navi” Pillay for her efforts to promote peace and international law. Navi Pillay’s commitment to universal legal principles and her firm moral compass are constants in a long career. Born into a family of Indian Tamil origin under apartheid…

The Trump administration is suspending Microsoft, Adobe and several other technology companies from a program that helps skilled foreign workers obtain permanent residency in the United States, accusing the companies of fraud. The administration is also probing universities, putting some of the country’s top research universities on notice. Thursday’s twin actions mark the broadest strike yet against skilled-worker immigration programs — potentially cutting off a common path to permanent residency for foreign tech workers. Since taking office, US President Donald Trump has pursued a broad effort to reduce the number of foreign-born people in the US and curtail their pathway…

The Competition Commission has referred GE South Africa (Pty) Ltd, GE Medical Systems South Africa (Pty) Ltd, Siemens Healthcare (Pty) Ltd and Philips South Africa Commercial (Pty) Ltd to the Competition Tribunal for prosecution over alleged anticompetitive conduct in the servicing, repair and maintenance of diagnostic medical imaging equipment. “The Competition Commission has referred GE South Africa (Pty) Ltd and GE Medical Systems South Africa (Pty) Ltd, Siemens Healthcare (Pty) Ltd and Philips South Africa Commercial (Pty) Ltd (collectively, ‘the respondents’) to the Competition Tribunal for prosecution over alleged anticompetitive conduct in the servicing, repair and maintenance of diagnostic medical…

The National Consumer Commission (NCC) today launched the National Opt-Out Registry, giving every South African consumer a free, government-administered way to stop unwanted direct marketing calls, SMSes and other electronic communication. Section 11 of the Consumer Protection Act (CPA) provides consumers the right to block unwanted direct marketing communication. To this effect, the Minister of Trade, Industry and Competition, Parks Tau, gazetted the Consumer Protection Act Amendment Regulations, 2026 (Regulations), empowering the NCC to administer the National Opt-Out Registry. The Scale of the Problem According to Truecaller’s 2026 South Africa Spam Report, South Africans received 17.47 billion spam calls between…

The partnership combines PropLaunch’s operating model with Axcera’s technology infrastructure and RUBIK’s specialist risk expertise to give prop firm founders a stronger and more capital-efficient foundation from day one. DUBAI, UAE, October 6th, 2026 – PropLaunch has partnered with Axcera and RUBIK Prop Firm Consulting to support entrepreneurs looking to launch and operate proprietary trading firms. PropLaunch was created around a simple observation: launching a prop firm requires far more than a trading platform and a website. Founders need to coordinate technology, trader onboarding, trading platforms, payment providers, KYC, account management, operational workflows and risk management, while also building a…

When Minister in the Presidency Khumbudzo Ntshavheni delivered her monthly Cabinet briefing on Tuesday, 29 September 2026, it was just seven days after my birthday. Having remained sober for the past two years, I had no reason to miss the briefing, particularly in the midst of the scourge of gender-based violence in our country. The Minister was scathing about the attacks on the East Rand and equally critical of what government regards as false narratives being advanced by some right-wing and fringe Afrikaner organisations. But it was when she announced Cabinet appointments that my attention shifted. Among the names she…

Capitec, South Africa’s largest bank by customer base, reported significant growth in its Capitec Connect mobile virtual network operator (MVNO) business and digital banking. Capitec Connect continued to scale, with the number of active clients in the past three months reaching 1.8 million, up from 1.1 million in 2025. This represents growth of about 700,000 users, as more clients adopted the service for affordable everyday connectivity. Data usage more than doubled from 14.9 million gigabytes to 34.3 million gigabytes, while voice usage grew 84%. Free Capitec-to-Capitec calls were launched to strengthen the proposition, with 70 million free minutes used during…

Clicks Group has increased its shareholding in premium beauty retailer ARC Store (“ARC”) to 61%, following the acquisition of a further 35.3% interest for R507 million from the founding shareholders. The deal strengthens Clicks Group’s exposure to South Africa’s growing premium beauty market, which is valued at more than R6 billion annually. It also extends a relationship that began in 2021, when Clicks Group first acquired a stake in ARC. That shareholding was increased to 25.7% in 2025. Existing ARC shareholders will remain invested in the business, while current executive management has committed to remaining with the company until at…

The South African Reserve Bank (SARB) has raised its benchmark repo rate by 25 basis points to 7.25%, effective from 25 September, in a unanimous decision by the Monetary Policy Committee (MPC). The move brings the prime lending rate to 10.75%. Announcing the decision, Reserve Bank Governor Lesetja Kganyago said the global environment remains “challenging and uncertain,” citing the escalating Middle East conflict, interruptions to oil exports from Saudi Arabia due to fighting in Yemen, and the ongoing Russia-Ukraine war as key factors driving inflation higher. “The global environment remains challenging and uncertain,” Kganyago said in the statement issued by…

Airtel Money, a scaled digital financial services platform operating across 13 African markets, today announces its intention to undertake an initial public offering and the admission of its ordinary shares to the equity shares category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange, as well as the signing of a cornerstone agreement with International Finance Corporation. The landmark announcement positions Airtel Money as one of the most significant African fintech companies to pursue a London listing, representing a major milestone for digital financial inclusion across Sub-Saharan Africa. “Today marks…

South African entrepreneur Zuko Mandlakazi, founder of assistive technology company Senso, has been named a finalist in the 2026 Shell LiveWire Impact Makers awards. He is one of eight entrepreneurs selected globally in the Social Impact category and the only South African finalist across this year’s three categories. The recognition comes after a journey that began in the rural Eastern Cape, where Mandlakazi grew up with an aunt who is hard of hearing and relies on lip-reading. When she began visiting him in Gauteng, he became concerned about how she would respond to sounds she could not hear when she…

I’ve been watching sports and betting on games for about 7 years now. The changes are wild. Back in 2018, I had to either find a bookie or drive 45 minutes to place a bet. Now I can do it from my couch in 30 seconds. What’s really interesting is how the tech behind sport betting isn’t just making things more convenient—it’s completely reshaping how people engage with sports. The AI Stuff Is Getting Weird (In A Good Way) My friend Jake mentioned something interesting last month. The odds he sees on his betting app are different from mine. Not…

Nvidia founder and CEO Jensen Huang took the stage at Salesforce’s Dreamforce conference Tuesday, delivering a powerful message about artificial intelligence: embrace it or risk being left behind. Speaking alongside Salesforce CEO Marc Benioff at the Moscone Center in San Francisco, Huang dismissed fears that AI will eliminate jobs, instead painting a vision of unprecedented productivity and opportunity. “As a result of our ambition, and with the productivity boost we get from AI, the sky’s the limit,” Huang told the audience. “Engage AI. Don’t get left behind.” AI Is Not a Threat to Jobs Huang directly pushed back on the…

South Africa is set to extradite six Nigerian nationals to the United States to face wire fraud and money laundering charges linked to an online romance scam that allegedly defrauded more than 100 women of over R100 million, Hawks National spokesperson Colonel Katlego Mogale said. Mogale said the Directorate for Priority Crime Investigation (DPCI), commonly known as the Hawks, in collaboration with INTERPOL South Africa, is facilitating the extradition. The six men are alleged to be members of the Black Axe organised criminal network and are wanted by US authorities. “The suspects are alleged to have targeted more than 100…

JSE-listed insurance giant Sanlam is set to diversify into banking services in 2027, positioning itself to compete with rival Old Mutual, which recently launched OM Bank. The company announced that its Retail Mass business operationalised 156 retail branches in South Africa during the first six months of the year and remains on track to reach 200 branches by year-end. Sanlam Establishes Retail Credit Joint Venture with GoTyme In its Credit, Banking and Rewards division, Sanlam established a retail credit joint venture with GoTyme in June 2026, leveraging digital infrastructure and expertise to build a scalable lending business and unlock cross-sell…

Vodacom Group has officially announced the strategic appointment of Dr. Leila Fourie as an alternate director to the company’s outgoing Chairman, Saki Macozoma, marking a significant step in the telecommunications giant’s board succession planning. Effective 9 October 2026, Fourie will assume her duties as an alternate director. She will serve in this capacity until Macozoma’s scheduled retirement on 20 July 2027, at which point she will seamlessly transition to a full member of the Vodacom Board. A Strategic Board Succession Move The appointment positions Fourie as a direct successor to Macozoma’s board duties, ensuring continuity in leadership. While serving as an alternate…

Old Mutual Group, Africa’s top insurer, is planning to make a significant investment of R2 billion in OM Bank, its new digital-first retail banking venture in South Africa, as part of a broader strategic push to establish a competitive foothold in the banking sector. The JSE-listed insurer announced today that its discretionary capital balance has reduced to R3.1 billion at 30 June 2026 from R6.1 billion at 31 December 2025. “This was primarily driven by the completion of the remaining R2.3 billion of the approved R3 billion share buyback programme in the first half of 2026,” said the insurer. “The…

JSE-listed hospitality group Sun International published its financial results for the six-month period ended 30 June 2026 showing it is building a digitally led, market-leading omnichannel gaming company of scale. The group’s segmental reporting reflects how the business is now managed and evaluated, comprising four core pillars: Online gaming (Sunbet), Land-based casinos, Hospitality, and LPM (Sun Slots). The group is also the owner of the country’s most iconic resort, Sun City. Sunbet: The Growth Engine Sun International said its online gaming platform Sunbet, the group’s growth engine, delivered another strong performance. Continuing to represent the group’s most significant growth opportunity,…

In a sector currently navigating the treacherous waters of regulatory scrutiny, institutional demand, and the desperate need for transparency, Maksym Sakharov, CEO of WeFi, is building what he calls the “Deobanking infrastructure provider”. As the leader of a next-generation onchain financial infrastructure platform, Sakharov believes that the future of finance isn’t just about digitisation, but about compliance-first blockchain frameworks. In an exclusive interview, Sakharov sat down with us to dissect the hurdles facing fintechs today, the strategic pivot toward institutional-grade rails, and how WeFi’s proprietary WeChain is rewriting the rulebook for transparent banking.. Africa has dozens of currencies and highly fragmented…