Author: Gugu Lourie
Capitec Bank has thrown its weight behind Home Affairs Minister Leon Schreiber’s initiative to modernise South Africa’s population registration database. This comes after digital bank TymeBank strongly criticised Schreiber’s decision to impose significant price hikes for online identity verification services. The move signals growing tensions between financial institutions and the government over the cost and efficiency of critical ID checks. “Capitec supports the Department of Home Affairs’ initiative to upgrade the National Population Register and enhance the stability and reliability of its Online Verification System,” Capitec said in a statement. “A secure and stable national identity system is crucial for…
The refreshed Kia Sorento redefines the large family SUV segment with bold design, advanced technology and outdoor-ready performance. Built to inspire confidence, it sets new benchmarks with futuristic innovation, intelligent safety systems and a premium digital driving experience. “The Sorento’s evolution echoes Kia’s brand transformation. A rich package of advanced safety features and highly efficient powertrains make it perfect for customers seeking a safe, reliable, and relaxed drive,” says Paul Turnbull, CEO of Kia South Africa. Next-Gen Tech for a Smarter Drive The Sorento’s dual 12.3-inch panoramic screens (infotainment + digital cluster) and 10-inch head-up display keep drivers informed without distraction. The digital rear-view mirror doubles as a camera feed for unobstructed visibility,…
Fabricio Bloisi, Group CEO of Prosus and Naspers, has expressed strong confidence in Takealot’s ability to maintain its leadership position in South Africa’s competitive e-commerce landscape, even as global players like Amazon enter the market. In a Zoom discussion, Bloisi outlined the company’s strategic priorities while emphasising continued support for Takealot through technology transfers, operational investments and local community development initiatives. The Naspers CEO explained the company’s current geographic focus areas, making clear that while Latin America, India and Europe represent immediate priorities for new investments, South Africa remains a crucial operational market. “Because of our existing South African operations,…
OLX’s South African subsidiaries AutoTrader and Property24 continue setting new industry standards through cutting-edge innovations, customer-centric tools, and measurable market impact. These leading platforms within the OLX portfolio have strengthened their market leadership positions while driving meaningful digital transformation across their sectors. AutoTrader Revolutionises Car Buying Experience AutoTrader has consolidated its position as South Africa’s premier automotive marketplace with groundbreaking features that empower both consumers and dealerships. The platform introduced machine-learning powered Price Ratings, enhanced vehicle valuation insights, and real-time price drop alerts – giving buyers unprecedented transparency. Christian Gisy, CEO of OLX Group, noted: “Our investments in Artificial Intelligence…
As South Africa continues its journey of economic renewal, Naspers remains a committed long-term partner in building a more inclusive and innovative digital economy. The group’s mission, empowering South Africa’s digital future through purposeful innovation, trust, and inclusive growth, drives its strategic investments in AI and digital platforms. Commitment to Economic Growth and Digital Inclusion Fabricio Bloisi, Group CEO of Prosus and Naspers, emphasizes the company’s vision: “Our ambition is to build value by creating a high-quality ecosystem of complementary businesses, which deliver exceptional products and services to our customers. We are supporting government’s priorities of inclusive economic growth and creating…
Naspers, a global consumer internet group and one of the world’s largest technology investors, remains well-positioned to thrive in an uncertain macroeconomic environment due to its strong balance sheet. At the corporate level, Naspers holds a net cash position of $1.9 billion, supported by $17.4 billion in central cash and cash equivalents, net of $15.5 billion in central interest-bearing debt. Additionally, the group benefits from an undrawn $2.7 billion revolving credit facility, reinforcing its financial resilience. The group’s free cash inflow surged to $1 billion in 2025 financial year, more than doubling from the prior year’s $375 million. This growth…
Johannesburg’s hottest real estate deal is here! The Gupta family’s Saxonwold compound — a monument to state capture, tender fraud, and “creative accounting” — is finally going under the hammer. But don’t worry, the auction house has ensured only serious buyers (read: those with unexplained offshore funds) can participate. Entry Fee: R500,000 (Proof of Embezzlement Optional) Bidding on the infamous “Loot Manor” isn’t for the faint-hearted or the legally compliant. Park Village Auctions, tired of Gupta lawyers wasting their time by pretending to bid, has set a R500,000 deposit just to prove you’re committed to questionable financial decisions. A source from the auction house explained: “We’ve had too many jokers register and then ghost us. If you’re not willing…
As digital transformation accelerates across the continent, data privacy and cybersecurity have become critical priorities for businesses and consumers alike. Africa faces growing cyber threats, with research showing a 23% year-on-year increase in cyberattacks during 2023. In this challenging environment, Vodacom has established itself as a leader in data protection, implementing comprehensive measures to safeguard customer information while maintaining compliance with evolving regulations. According to the Vodacom Integrated Annual Report 2025, the company has developed a sophisticated approach to data privacy that combines global best practices with local market adaptations. At the core of this strategy is Vodacom’s alignment with…
Education and skills development are key drivers of economic mobility, and Vodacom is committed to bridging the digital divide by expanding access to digital learning platforms, enhancing school connectivity, and equipping learners with essential skills for the future. According to the Vodacom Integrated Annual Report 2025, the company has reached 3 million learners and educators across its markets through e-learning initiatives and improved infrastructure. Enhancing Education in South Africa Vodacom’s efforts in South Africa focus on infrastructure, connectivity, and digital learning: Upgraded 32 early childhood development centers with ICT tools, mobile libraries, and better water and sanitation facilities, benefiting 2,170 children. Expanded Schools of Excellence from 25 to…
After five years of distinguished leadership, Nischal Mewalall has announced his decision to step down as Chief Executive Officer (CEO) of SABRIC (South African Banking Risk Information Centre) to pursue personal aspirations. The SABRIC Board, employees, and stakeholders have expressed their profound gratitude for his visionary guidance and steadfast dedication to the organization. Mewalall took the helm during one of the most turbulent periods in recent history, the COVID-19 pandemic and national lockdown. Despite these challenges, he provided strategic stability, ensuring SABRIC not only weathered the crisis but emerged as a stronger, more digitally transformed entity. Under his leadership, SABRIC evolved into a technology-driven organization, better equipped…
Simply revising a single aspect of South Africa’s cryptocurrency regulations to align with global standards could generate at least R540 million in additional tax revenue for the government. This conservative estimate comes from Luno, one of the world’s oldest and largest crypto exchanges, now operating in 40 countries and originally founded in South Africa. In light of South Africa’s sluggish economic growth, mounting debt, and urgent social needs, leveraging digital assets for economic expansion has never been more critical. Marius Reitz, Luno’s General Manager for Africa & Europe, highlights the opportunity: “Digital assets, particularly Bitcoin, have vastly outperformed traditional investments like stocks and bonds…
The Prieska Power Reserve (PPR), a pioneering green hydrogen and ammonia project in South Africa’s Northern Cape, has achieved a major milestone with funding approval from KfW Development Bank in partnership with the Industrial Development Corporation (IDC). The project is co-owned by Mahlako, a women-owned infrastructure investment firm, and CENEC (Central Energy Corporation), a zero-emissions energy specialist. A Landmark Achievement for Green Hydrogen “Prieska is the first green ammonia and hydrogen project to receive funding approval from the KfW grant. This marks a significant milestone for the project,” said Meta Mhlarhi CA(SA), Director of Prieska Power Reserve. “The backing from KfW signals strong international confidence in South…
Telkom has reached a historic leadership milestone with the appointment of Beauty Apleni as CEO of Openserve, finalising Group CEO Serame Taukobong’s eight-member executive team with ‘equal gender representation’. The move brings to four the number of women in Telkom’s eight-member executive committee, achieving full parity in the telecommunications company’s top leadership. This appointment completes Telkom’s leadership team, providing gender diversity at the highest levels of the organisation. The executive team now comprises four women and four men driving the OneTelkom strategy, exceeding the company’s 2025 target of 35% female representation in leadership positions (up from 34.1% in 2024). Apleni…
The Financial Sector Conduct Authority (FSCA) has issued an urgent warning about fake WhatsApp groups called “Q23 Momentum Official Securities Group” and “Q923 MOSG Official Securities Group” that are fraudulently using the name and image of Risto Ketola, Group Finance Director of Momentum Metropolitan Holdings Limited (MMI). Key Facts About the Scam: The groups falsely promise returns exceeding 160% They offer a “check-in reward” of R2,000/month for promoting the group Momentum Metropolitan confirms they have no connection to these groups The FSCA states: “These groups are not authorized to provide any financial services” How the Scam Works: Uses fake credentials of a real executive (Risto Ketola) Operates through WhatsApp, Telegram, and Facebook Makes unrealistic profit claims (a…
The Financial Sector Conduct Authority (FSCA) has issued a public warning against Vusy Holdings (Pty) Ltd, trading as Tshi-Lettie Funeral Services and Tombstones. The regulator states: “We urge the public to exercise extreme caution when considering funeral insurance policies from this provider. Our investigation found they may be issuing policies without proper authorization.” Key Concerns: Tshi-Lettie Funeral Services cannot be found at its registered address The company is not authorized by the FSCA or Prudential Authority to sell insurance Selling insurance without a license is a criminal offense in South Africa FSCA’s Strong Warning: “Any company issuing insurance policies must be authorized by both the FSCA…
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…