Author: Gugu Lourie

The Financial Sector Conduct Authority (FSCA) has issued an urgent warning about a fraudulent investment scheme using deepfake videos of President Ramaphosa, Dr. Patrice Motsepe, Leanne Manas and Paul Mashatile to trick the public. These scams promise daily profits of R13,000–R17,000 on a R4,500 investment: an unrealistic return that signals fraud. The FSCA confirms these platforms are not authorised and may be stealing money from investors. How the Scam Works: Fake videos of Pres Ramaphosa and other leaders endorse the scheme. Fraudsters use AI-generated deepfakes to appear legitimate. No response when questioned by the FSCA—a major red flag. How to Avoid Being Scammed: Check FSCA registration before investing. Never trust “guaranteed…

Telkom Consumer has demonstrated the success of its data-focused strategy with impressive financial results, including double-digit growth in mobile revenue and subscriber numbers. The Telkom division, led by CEO Lunga Siyo, achieved a 10.2% increase in mobile service revenue to R20.9 billion, powered by a 12.3% surge in mobile data revenue – marking the second consecutive year of such strong performance. “We delivered market expansion, revenue diversification and strong customer loyalty, while strategic investments in digital innovation and network resilience drove sustained profitability,” the company stated. These results affirm Telkom Consumer’s position as South Africa’s fastest-growing mobile and fixed broadband…

Telkom has brought cheer to its investors by declaring dividends for the first time in four years, with a total payout of R1.3 billion to shareholders. The company’s Group CEO, Serame Taukobong, expressed satisfaction with this development, stating, “We are pleased to confirm the reinstatement of a dividend, signalling a renewed focus on delivering value to shareholders after a four-year suspension.” The payout comprises both an ordinary and special dividend amounting to R2.61 per share, marking a significant milestone in Telkom’s financial recovery. The decision to resume dividend payments follows strong operational performance across Telkom’s business units. The Consumer division…

In recent years, the Financial Sector Conduct Authority (FSCA) has received multiple complaints regarding unlicensed entities issuing performance guarantees. State entities, including municipalities and government departments, often require these guarantees from contractors bidding on infrastructure projects, as stipulated in the National Treasury’s General Code of Contractors. However, investigations revealed that many entities offering these guarantees were conducting unauthorised insurance business. The FSCA emphasizes that holding a National Credit Act licence or an FSP licence does not permit an entity to issue insurance products. Why This Poses a Risk The FSCA warns that: Guarantees issued by unlicensed insurers may not be legally enforceable. The Insurance Act protects policyholders and ensures market integrity—benefits not available with…

Alexforbes reported a 15% increase in Headline Earnings Per Share (HEPS) to 70.8 cents per share for the year ended 31 March 2025, driven by the strong performance of its discontinued operations. HEPS, recognised as South Africa’s most accurate measure of profitability, underscores the company’s sustained financial strength. Dawie de Villiers, Chief Executive Officer of Alexforbes, reflected on the company’s legacy, stating: “What excites me about Alexforbes is the way we have punched above our weight for 90 years and the impact we’ve had on the financial services industry. “We have influenced and led real change and continue to do so and most importantly, we…

The Special Investigating Unit (SIU) has obtained a preservation order from the Special Tribunal to freeze a luxury property in Midstream Estate, Gauteng, as part of ongoing civil proceedings into the alleged misuse of funds allocated by the National Lotteries Commission (NLC). The court order prohibits Israel Mathibe, Smart Safety PPE, and any other related parties from selling, transferring, donating, or otherwise dealing with the immovable property in any way. The SIU’s investigation uncovered that funds intended for critical community projects – including agricultural development and old-age homes in rural areas – were allegedly diverted through a network of non-profit…

Gauteng Premier Panyaza Lesufi and MEC Kedibone Diale-Tlabela of the Gauteng Department of Roads and Transport (GPDRT) will officially unveil a new, high-tech tamper-proof number plate system on Thursday, 5 June 2025. The Gauteng Provincial Government disclosed in a post on Twitter/X,. Premier Panyaza @Lesufi together with @GPDRT_ MEC Kedibone Diale-Tlabela will on Thursday, 05 June 2025 preside over the unveiling of a new, cutting-edge technological, tamper-proof provincial number plate system. #RoadSafety #AgaLeRona #GrowingGautengTogether #TacklingG13 pic.twitter.com/eSvDTMY2Dg — Gauteng Provincial Gov (@GautengProvince) June 3, 2025 Gauteng’s New Number Plate System: A Game-Changer For Crime Prevention And Youth Entrepreneurship Gauteng unveiled last November a cutting-edge number plate system designed to bolster security…

Onafriq, Africa’s largest digital payments network, celebrates its 15-year anniversary by announcing a major milestone: nearly 1 billion mobile money wallets and 500 million bank accounts are now linked via its infrastructure. Originally launched as a mobile money switch, Onafriq has evolved into a full omnichannel payments network, enabling: Cross-border disbursements & collections Card issuance & processing Offline agent banking services FX & treasury solutions By fostering digital interoperability across mobile wallets, bank accounts, cards, and offline channels, Onafriq is driving Africa toward a seamless financial future. A Vision for a Connected Africa Dare Okoudjou, Founder & CEO of Onafriq, stated: “Fifteen years ago, we set out…

Mezzanine, the innovative tech subsidiary of the Vodacom Group, is actively pursuing expansion opportunities across Africa, focusing on agriculture and healthcare to drive digital transformation. Videsha Proothveerajh, Director of Vodacom Business, said: “Mezzanine is actively exploring several expansion opportunities across various sectors in Africa. “These include initiatives in agriculture, such as the Agri Vouchering solution for livestock in Kenya and the M-Kulima program in Tanzania. Additionally, Mezzanine is pursuing opportunities in the healthcare sector.” This sector-focused approach allows Mezzanine to demonstrate its adaptability and commitment to solving Africa’s most pressing challenges. Agriculture: eVuna & M-Kulima Driving Growth Mezzanine’s Connected Farmer platform (eVuna) has already transformed small-scale…

Vodacom Business’s Mezzanine’s Connected Farmer platform, branded as eVuna, is revolutionising agriculture in Africa by digitally empowering small-scale farmers. The platform connects farmers to vital resources – information, inputs, credit, and markets – boosting productivity and income. In Kenya, the eVuna eVouchering programme has seen remarkable success, with over 6 million farmers registered and 3.5 million vouchers redeemed. Farmers using eVuna have accessed more than $1 million in capital, leading to an 80% increase in yields and an additional $600 in revenue per farmer. “eVuna plays a crucial role in linking the small-scale farming community to the people and resources they need to thrive. ,” says Videsha Proothveerajh, Director of Vodacom Business. “Over a…

The Financial Sector Conduct Authority (FSCA) has issued a public warning, urging caution against dealing with Neo Forex Institute. The regulator has found that the entity is offering unauthorised forex trading signals through Instagram and Telegram, leading to financial losses for investors. Unauthorised Forex Signals Operation The FSCA has received multiple complaints from individuals who paid for trading signals from Neo Forex Institute, only to suffer losses. “Providing forex signals without a licence is a criminal offence,” the FSCA stated. Forex signal providers often: Charge subscription fees or take a percentage of profits. Share fake trading patterns to lure investors. Profit even when clients lose money through broker commissions. Neo Forex Institute Not Authorised The FSCA confirmed that Neo Forex…

The Financial Sector Conduct Authority (FSCA) has issued a public warning, urging caution when dealing with Forex Venus SA and Mr. Ofentse Maluleke. The regulator has found that the two are soliciting funds from the public for investments while promising unrealistic returns. Unauthorised Financial Services According to the FSCA, Forex Venus SA and Mr. Maluleke are not authorised to provide financial services in South Africa. Despite attempts to contact them, the FSCA could not reach them using available details. “Unrealistic returns must be viewed with great suspicion,” the FSCA stated. How They Operate Recruiting members via Facebook. Offering trading signals and investment services. Promising high, unsustainable returns. How to Protect Yourself The FSCA strongly advises…

Vuma is urging customers, particularly those in Vuma REACH areas, to stay alert as the company combats isolated incidents of fraudsters falsely posing as its representatives. Beware of Fake Representatives Recent reports indicate that individuals have been approaching residents, claiming to offer fibre installations or promotions while requesting upfront cash payments or transfers to personal accounts. Vuma does not operate this way – all legitimate billing and sign-ups are processed securely through official ISP partners. Key Safety Measures: Vuma never requests direct cash or EFT payments from customers. Always verify a representative’s ID or uniform before engaging. Confirm promotions via Vuma’s official website or trusted…

Vodacom Group has announced the appointment of Mohamed Abdallah as Chief Executive Officer (CEO) of Vodacom International Markets and Vodafone Egypt. This strategic move aligns with Vodacom’s Vision 2030, aimed at simplifying operations, accelerating growth, and enhancing customer experiences across its African markets. Expanding Leadership for Strategic Growth Currently serving as CEO of Vodafone Egypt, Abdallah will now take on an expanded role, overseeing operations in Egypt, the DRC, Lesotho, Mozambique, and Tanzania. This unified leadership structure is designed to strengthen operational efficiency and drive Vodacom’s strategic priorities across its International Markets portfolio. A Proven Leader with a Strong Track Record Abdallah brings over 25 years…

In a major shift for South Africa’s digital governance, government departments can now procure IT services from providers other than the struggling State Information Technology Agency (SITA). The move comes after consultation with National Treasury and aims to address chronic system failures that have paralysed services from Home Affairs to Social Development. DA Spokesperson on Communications & Digital Technologies Tsholofelo Bodlani welcomed the reform: “For years, South Africans have suffered because SITA couldn’t keep systems online. This change means departments can finally choose competent providers, ending the endless ‘system offline’ excuses that delay services.” Under the new framework: Departments can procure…

Eskom has signed a Memorandum of Understanding (MoU) with Korea Plant Service & Engineering Co. to establish a strategic partnership focused on non-commercial research, technical consulting, and innovation. This agreement sets a framework for collaboration aimed at enhancing Eskom’s operational performance and supporting its long-term sustainability goals. Under the MoU, the two organizations will cooperate across six key areas: Strategic cooperation and information exchange on critical spare parts replenishment, including remanufacturing, reproducing, repairing, or retrofitting obsolete components. Identification and implementation of research projects supporting asset development, plant performance improvements, and asset management. Digitalization initiatives, such as artificial intelligence, IoT, and data analytics,…

The South African Reserve Bank (SARB) has reduced its benchmark interest rate by 25 basis points, effective 30 May 2025, citing subdued inflation and global economic risks. The Monetary Policy Committee (MPC) voted 5-1 in favour of the cut, with one member advocating for a deeper 50bps reduction. Governor Lesetja Kganyago stated, “Given lower inflation and persistent global uncertainties, we see scope for modest monetary easing to support growth while maintaining price stability.” Global Economic Volatility Weighs on Growth Since the last MPC meeting, global markets have faced turbulence due to shifting US trade policies, fluctuating asset prices, and weaker growth projections. While…

In a major boost for South Africa’s green industrial future, the African Export-Import Bank (Afreximbank) has been appointed as the sole financial adviser for the R31.5-billion SUISO coal-to-fertiliser project in Mpumalanga. This landmark initiative reinforces global confidence in South Africa’s ability to lead a just energy transition while creating jobs, strengthening food security, and building sustainable industries. SUISO is a pioneering South African company specialising in blue ammonia production at its state-of-the-art facility in Kriel, Mpumalanga. Established in 2019 by four local entrepreneurs, SUISO focuses on sustainable energy solutions, food security and responsible resource management. By transforming residuals into resources, the company is committed to shaping a greener future…

In the bustling townships of South Africa, where unemployment hovers at 32.9% and economic exclusion remains a daily reality, a groundbreaking digital platform is rewriting the rules of engagement. SwapVend, founded by Ashmita Singh, is not just another fintech solution – it’s a radical reimagining of how the informal economy can participate in the digital age. “SwapVend acts as a digital taxi, connecting people to opportunity and creating a space where their value is seen and exchanged on their own terms,” explains Singh, whose own journey from the townships of Chatsworth and Phoenix to social entrepreneur informs every aspect of…

The Volvo EX30 continues to dominate South Africa’s premium EV market, while the newly launched EX90 elevates luxury electric driving. With strong demand for sustainable mobility, Volvo Car South Africa reported impressive sales figures for the first four months of 2025. Volvo’s Electric Vehicle Sales Performance Between January and April 2025, Volvo delivered 114 electric vehicles to South African customers. Leading the charge was the EX30, with 48 units sold, reinforcing its status as the country’s favourite premium EV. The EX90, Volvo’s flagship electric SUV, made a strong debut with 30 units sold, securing fifth place in SA’s top-selling EV rankings. The XC40 and C40 Recharge models also performed well, combining for 36 sales, further solidifying…

TooMuchWifi has secured a major FDI/DFI Investment to drive affordable high-speed internet in South Africa. Three new investors—British International Investment (BII), Infra Impact Investment Managers, and IDF Capital—have shown strong confidence in South Africa’s tech sector by backing high-growth internet provider TooMuchWifi. This significant investment will accelerate the startup’s expansion into underserved communities, enabling widespread digital inclusion through affordable, reliable internet access. The move aligns with a resurgence in foreign direct investment (FDI) into South Africa. Earlier this year, the country jumped to 7th place on Kearney’s FDI Confidence Index, up from 17th in 2023, signaling growing global investor trust. TooMuchWifi is a network operator, ISP, and Air…

Sizekhaya Holdings has been granted the Fourth National Lottery and Sports Pools licence by South Africa’s Minister of Trade, Industry, and Competition. The licence, valid for eight years, is set to commence by 1 June 2026, marking a significant milestone for the consortium. Goldrush Group, in which the company holds a 59.4% stake, is a 50% shareholder in Sizekhaya. However, following regulatory requirements, Sizekhaya will issue shares to a government entity, reducing Goldrush’s stake to 40%. As the new operator, Sizekhaya will oversee lottery ticket sales, prize payouts, and contributions to the National Lotteries Distribution Trust Fund (NLDTF): ensuring funds support good causes across South Africa. The selection of Sizekhaya – meaning “We are coming home” – reflects the…

The parliamentary uproar over Minister Solly Malatsi’s proposed policy shift on B-BBEE in the ICT sector has exposed a painful truth: South Africa’s mobile industry equity deals have largely failed to achieve meaningful black economic empowerment. While some politicians – acting along party lines – rail against potential changes to black economic empowerment equity requirements, evidence shows that existing deals have become little more than compliance exercises. Khusela Diko, chair of Parliament’s communications and digital technology committee, is a senior member of the majority party in the Government of National Unity (GNU), the African National Congress, while Minister Malatsi belongs…

Barloworld Equipment has invested R34 million in cutting-edge technology to enhance efficiency at its Barloworld Rebuild Centre (BRC), one of only a few Caterpillar-certified Component Rebuild Centres (CRCs) globally. The upgrade includes robotic thermal arc spraying and CNC machining, enabling the refurbishment of critical components like cylinder blocks, final drives, spindles, wheels, and hydraulic parts. Thermal arc spraying is ideal for high-friction applications, providing a durable, wear-resistant coating that extends machinery lifespan. “This investment ensures cost-effective repairs, faster turnaround times, and a wider range of remanufactured components for our customers,” said Mbali Tshitenge, Executive: Aftermarket at Barloworld Equipment Southern Africa. The BRC features state-of-the-art diagnostic tools and test stations, ensuring rebuilt parts meet Caterpillar’s strict…

 In the fast-paced aviation industry, even a brief network outage can disrupt operations and passenger flow. To address this, SITA – the air transport industry’s IT provider – has launched SITA Managed Satellites, a reliable, secure communication service that keeps airports and airlines online: even during blackouts, disasters, or in remote locations. Available in over 130 countries, this fully managed service leverages low earth orbit (LEO) satellites to deliver high-speed, low-latency connectivity. It serves as a primary, backup, or emergency network, ensuring airports maintain operations when traditional fiber or terrestrial networks fail. Why Airports Need Satellite Connectivity Recent global disruptions – such as extreme…