Author: Gugu Lourie

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…

Gugu Lourie, tech analyst, joined Simon Brown on Moneyweb’s HOT 107.7FM to unpack South Africa’s shifting connectivity landscape amid updated empowerment laws. The discussion explored how these policy changes impact internet access, digital inclusion, and the role of equity equivalents in driving transformation. Stay informed with HOT 107.7FM for key insights on SA’s evolving digital future. Key Points Covered: How empowerment laws reshape SA’s connectivity sector Equity equivalents and their role in digital equity  The future of internet access and broadband growth Listen Below #TechTalk #DigitalTransformation #HOT1077FM

For nearly three decades, South Africa’s Black Economic Empowerment (BEE) policy has been anchored on the premise that transferring 30% equity stakes to black shareholders would, somewhat, redress apartheid’s race-skewed economic imbalances. However, the results have been disastrous. For example, between 2003-2008, as much as R361 billion in BEE deals were concluded, yet black ownership on the JSE remains below 5%, unemployment has soared to over 32%, and GDP stagnated below 2%. This evidence shows that equity-based BEE has failed to redress apartheid’s economic ills, and South Africa must urgently rethink its approach. The Surprising Origins of BEE Contrary to…

Well-known South African technology entrepreneur Reshaad Sha is leading a management buyout of Altron Nexus from JSE-listed Altron Group, with the company set to be rebranded as Sentiv. The transaction, still subject to conditions, is expected to close by end June 2025. A New Chapter: Sentiv Emerges The name Sentiv – a blend of “sentient” and “intuitive” – reflects the company’s evolution into a platform-led business focused on real-time insights, adaptive connectivity, and predictive intelligence. Louis Du Toit, the current Managing Director of Altron Nexus, will become CEO of Sentiv, while Reshaad Sha takes on the role of Executive Chairman. Together, they aim to transform Sentiv into a future-ready technology provider specializing in mission-critical communications and Industrial IoT solutions. Altron…

Zero Carbon Charge (CHARGE), South Africa’s pioneer in developing a nationwide network of off-grid, solar-powered electric vehicle (EV) charging stations, has secured a R100 million equity investment from the Development Bank of Southern Africa (DBSA). This funding accelerates the country’s shift toward a net-zero transport economy while reinforcing climate-resilient infrastructure. Andries Malherbe, Director and Co-founder of CHARGE, expressed gratitude for the investment, stating: “This show of faith by the DBSA is not just financial – it is symbolic. We are truly grateful.” The capital injection will support CHARGE’s mission to install ultra-fast EV charging stations every 150 km along national roads. Each site…

As Altron marks its 60th anniversary, the JSE-tech listed group has delivered a stellar financial performance, showcasing 50% growth in operating profit to R972 million and a 27% surge in EBITDA to R1.8 billion for the year ending February 2025. This strong performance emphasises the company’s resilience amid economic uncertainty and its ability to execute a disciplined growth strategy. A Year of Strong Financial Performance Despite flat revenue of R9.6 billion, partly due to the sale of its ATM business, Altron demonstrated underlying growth with a 3% organic revenue increase when excluding this divestment.  More impressively, the company’s headline earnings per share (HEPS) jumped 73% to 178 cents, while…

The State Information Technology Agency (SITA) has pledged full cooperation with the Special Investigating Unit (SIU) following President Cyril Ramaphosa’s proclamation authorising an investigation into its 2017 procurement process. The probe will examine the awarding of a turnkey software asset management and logistics support contract, assessing compliance with National Treasury regulations and potential irregularities. While the investigation focuses on a past tender, SITA emphasizes that it reflects its current leadership’s commitment to accountability. Since 2021, the agency has implemented sweeping reforms, including: Revised procurement frameworks aligned with PFMA and Treasury rules, Digital tracking systems for audit-ready contract management, Mandatory ethics…

Since Vodacom’s strategic R1 billion acquisition of a 51% stake in IoT.nxt in 2019, the IoT specialist has become instrumental in driving its Beyond Mobile strategy, enabling digital transformation across multiple industries through cutting-edge connectivity solutions. The Technology Edge At the core of this partnership is IoT.nxt’s innovative edge-to-cloud platform that seamlessly bridges legacy systems with modern data sources, delivering real-time business intelligence. The company’s competitive advantage stems from three key technological differentiators: Raptor edge gateway technology – Enables rapid IoT deployment at scale Web-Commander software stack – Provides unified data aggregation with 3D visualisation capabilities Multi-directional rules engine – Facilitates…

Opera Mini has launched #DataDance, a national campaign addressing data affordability and digital access for South African youth. Combining dance culture with digital opportunity, the campaign invites users to post their dance routines on TikTok using the #operaminidatadance hashtag for a chance to win up to five years of airtime. High Data Costs Create Real Challenges for Youth A recent Opera-commissioned survey reveals that 62% of South Africans aged 16-35 believe internet costs are too high. 86% say affordable access could transform their lives, particularly in education, jobs, and information access. Key findings: 63% run out of data every other month 31% exhaust data monthly 68% feel frustrated, while 17% stop browsing entirely How to Join #OperaMiniDataDance To participate: Use the custom amapiano track (available on TikTok under “Opera…

ButtaNutt, a South African plant-based dairy alternatives provider, has secured a 54% equity investment from PSG Group. The transaction, effective May 2025, represents a strong vote of confidence in local entrepreneurship and homegrown innovation. The founding management team, led by Founder and CEO Antoine van Heerden, retains the remaining shareholding. Based in Paarl, Western Cape, ButtaNutt has evolved from a single-product startup into a well-known name in South Africa’s food innovation sector. Its nut butters and dairy alternatives, made with natural, minimally processed ingredients, have gained popularity among health-conscious consumers. PSG Group Backs ButtaNutt’s Growth Ambitions PSG Group, a South African investment firm, is known for…

Canal+ has agreed to a moratorium on retrenchments for three years at MultiChoice Group following the merger implementation date. Sipho Maseko and Sonja De Bruyn have joined a Broad-Based Black Economic Empowerment (BBBEE) consortium played a crucial role in facilitating Canal+’s acquisition of MultiChoice Group. As part of the transaction, MultiChoice South Africa’s broadcasting licence operations will be restructured into a new independent entity, MultiChoice (Pty) Ltd (LicenceCo). This move ensures regulatory compliance while paving the way for Canal+ to expand its video entertainment footprint across Africa. Canal+ has committed that the majority of LicenceCo’s shareholders will be Historically Disadvantaged Persons (HDPs) and workers. The…