Author: Gugu Lourie

Nedbank, one of South Africa’s largest banks, says it had more than 2.6 million digitally active customers at the end of December 2022, a 13% increase from the same period in 2021. “Our digital initiatives helped us to increase the number of digitally active retail clients in SA by 13% to 2.6 million,” Nedbank said. “This now represents 39% of total active retail clients and 68% of retail main-banked clients. “Retail digital transaction volumes in SA increased by 18% and transaction values up by 16% ( up by 40% since 2019).” Nedbank added that digitally active customers across Nedbank Africa…

JSE listed REIT, Octodec Investments, today announced that it has been approved for a secondary listing on A2X Markets. The group informed shareholders that its primary listing on the JSE  and issued share capital will be unaffected by the secondary listing on A2X. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the South African Financial Sector Conduct Authority in terms of the Financial Markets Act 19 of 2012. Also read: Octodec Launches Newly Upgraded, Landmark Shoprite Building In Tshwane CBD JSE listed REIT, Octodec Investments, today unveiled the new look and…

Nedbank’s Avo Super app has gained more than 2 million users since its launch on the app stores in June 2020, a 1.9-fold increase year-on-year and a near five-fold increase in the number of active users. Nedbank informed investors today that Avo now has access to over 12 000 drivers in its delivery fleet across the country as product orders continue to grow exponentially. By the end of 2022, more than 20 000 businesses (a 15% increase) were registered to offer their products and services on this e-commerce platform. Avo is a super app that allows customers to buy essential…

Paratus South Africa announces that construction of its latest multi-million-rand teleport in Doornkloof, Pretoria, has begun and is due for completion in August 2023. The new teleport marks another significant milestone in the company’s investment in its own infrastructure that will deliver reliable and quality satellite connectivity to South African businesses and consumers, even when power outages occur. Paratus South Africa – part of the pan-African Paratus Group – will be building the group’s largest teleport and strengthening its diverse offering of cutting-edge satellite communications services. Managing Director of Paratus South Africa, Kallie Carlsen, explains: “This project is important to…

President Cyril Ramaphosa is expected to announce a Minister of Electricity and a cabinet reshuffle “in a matter of days”. This is according to Presidential spokesperson Vincent Magwenya, who was addressing media on Wednesday. “There are vacancies in Cabinet. We also now have a vacancy in the role of a Deputy President and so there is a sense of urgency that the President fills those vacancies as soon as possible. In a matter of days, that announcement will be made. “The President has to apply his mind. The appointment of Cabinet members and the management of Cabinet is not something…

Telkom announce plans to hike its prices, for mobile, fibre, DSL and voice products. The the Mobile, DSL & Voice portfolios price increases are effective 1 April 2023 and FTTH (Fibre to the Home) products effective 1 May 2023, respectively. With an inflation rate sitting at a record 13-year high, price increases are necessary and unavoidable to ensure long-term business sustainability. Like many other South African companies and enterprises, Telkom has been impacted by the pressures driven by prevailing macroeconomic dynamics. The imminent price increases across fixed voice, ADSL, FTTH and mobile offerings will ensure continued quality service to Telkom’s…

Money transfer company Zepz – formerly known as WorldRemit – is looking for more acquisitions and tech talent in Africa.   Zepz recently acquired IMGN Technologies, a South Africa-based software development company with 31 software engineers.   Terms of the acquisition were not disclosed.   London-based money transfer company Zepz is set to play an important role in supporting the 2023 client acquisition and retention plans with its investment in technical talent in Africa.   Zepz, which operates through WorldRemit and Sendwave, says it is committed to growing its footprint, introducing new products, and optimising them on the African continent.…

Eskom on Friday morning announced the appointment of Calib Cassim as Interim Group Chief Executive Officer with immediate effect. The power utility is currently implementing Stage 6 load-shedding. Eskom said in a statement that Cassim will lead the Eskom management team until further notice. Cassim was appointed as Eskom’s Chief Financial Officer (CFO) in November 2018 after serving as Acting CFO from July 2017. He is a registered Chartered Accountant (SA) and holds a master’s degree in Business Leadership (MBL). With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr Cassim with a deep…

JSE listed REIT, Octodec Investments, today unveiled the new look and feel of its Shoprite building in the heart of the Tshwane CBD – a R60 million investment project announced in August 2022 to boost and uplift the bustling central node. Jeffrey Wapnick, MD of Octodec, says, “This project cements our commitment to the City of Tshwane which continuously presents growth opportunities for our already dominant inner-city retail and residential portfolio. It represents a renewal of our relationship and an upgrade of our service to a city that is increasingly attracting national retailers”. “We are excited to see this new…

Customers can look forward to a particularly immersive entertainment experience in the new Mercedes-Benz E-Class. Music, games and streaming content can be experienced in the car with almost all the senses. Thanks to digital innovations in the interior, the E-Class is now more intelligent, achieving a new dimension of personalisation and interaction. At the same time, the electronic architecture is more software-driven and less hardware-driven. This forms the basis for more individual updating of the interior systems in the future. The new E-Class is packed full of interesting and advanced features such as third-party apps optimised for the vehicle for…