Author: Gugu Lourie

Clean technology startup ScarabTech has announced today the successful raise of seed funding from the GIIG Africa Fund. The investment marks the company’s first equity-led round following initial funding from various angel investors, with the capital to be used to finance the development of several commercial projects across Africa, Asia and the Australian subcontinent over the coming year. Founded in 2018, ScarabTech specialises in the production of small-scale and highly efficient plastic-to-energy units called ‘Beetles’. Developed using special software algorithms and design, these machines heat plastic waste, creating a vapor that is then captured and reconstituted into carbon-neutral fuel that…

TymeBank, one of South Africa’s digital banks, has attracted 220 000 new customer in October 2022. The digital bank owned by billionaire Patrice Motsepe was launched in February 2019. “TymeBank continues to sustain its onboarding of new customers,” African Raibow Capital Investments informed investors today. “In October the company reported that approximately 228 000 new customers were onboarded for the month, which represents a record level in the number of new customers onboarded in a single month. This compares to the average rate of 130 000 to 140 000 customers onboarded per month in the first half of 2022. ” The company added that…

The 2022 South African Digital Customer Experience Report, released in August of this year, revealed that a brand’s delivery experience was among key reasons why consumers would shop from them again. According to 66% of the survey’s sample, delivery value was critical to their repeat purchase while 81% of those surveyed said they shop online for convenient home deliveries. These insights are invaluable to any brand that has an ecommerce arm – which, thanks to Covid, most now do. Delivery is as much an importance to the buyer as the customer journey of the site is, the price and quality…

State-funded low-cost Community WiFi technology provider, Fibrepoynt, has announced the appointment of Mpho Sefalafala the CEO. Sefalafala’s appointment follows the end of term for Eduard Walker, an innovative engineer and telecoms industry stalwart, who has led the company through the technology development, validation and pilot phases. Sefalafala’s appointment is effective from 15 June 2022. Sefalafala has vast experience in technology entrepreneurship, business incubation, funding and enterprise development, and has over the years, assisted several early technology enterprises to build and commercialize their projects. He has also been an influencer and shaper within the entrepreneurial ecosystems in Gauteng through mentorship, policy development…

Neobank Be Mobile Africa has announced the launch of its cryptocurrency payments gateway which will allow businesses and merchants in Africa to accept and make payments with Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), as well as USD stablecoins such as USDC and USDT. Customers will be able to automatically convert incoming crypto payments in ZAR, USD or EUR or have the option to keep crypto with Be Mobile Africa providing full custody. “International payments have always been a pain point for African SMEs. Sending or receiving money from customers outside of one’s country is expensive and often…

Community Holdings No 1 Proprietary Limited (CIH) plans to delist Jasco Electronics (Jasco) from the JSE. CIH, which was founded by buiness women Dr Anna Mokgokong, announced today that it will make a general offer to the holders of Jasco ordinary shares and to consequently terminate the listing of the company’s ordinary shares on the JSE. CIH will offer to purchase all of the issued Jasco ordinary shares for a consideration equivalent to 16 cents per Jasco ordinary share. The offer consideration represents a 4% premium on the 30-day weighted average traded price of Jasco shares on 2 December 2022,…

Vodafone Group announced today that Nick Read has agreed with the board that he will step down as Group Chief Executive and as a Director of Vodafone on 31 December 2022. Read be available as an adviser to the board until 31 March 2023. Margherita Della Valle has been appointed interim Group Chief Executive. She will accelerate the execution of the Company’s strategy to improve operational performance and deliver shareholder value. In addition to being appointed interim Group Chief Executive, Margherita Della Valle will also continue as Group Chief Financial Officer. The Board has initiated a process to find a…

MTN Group emerged victorius in a R73 billion lawsuit initaited 10 yeears ago by Turkish operator Turkcell. Turkcell and East Asian Consortium, or EAC had initiated action against it and certain of its subsidiaries in 2013, seeking damages over allegations of impropriety in the award of the first private mobile telecommunications license in Iran. In 2020, Turkcell withdrew as a plaintiff, leaving EAC as sole plaintiff. The court dismissed the action without costs on Wednesday, ending the litigation. “In a judgment handed down by the High Court of South Africa on 30 November 2022, EAC’s action against MTN has been…

Truworths has been approved for secondary listing on A2X Markets and its ordinary shares will commence trading on the stock exchange from 5 December 2022. Truworths will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X. Founded in 1917, the company listed on the JSE and the Namibian Stock Exchange in 1998. The Truworths International Group is one of the leading fashion retailers in Africa with 785 mainly Truworths and Identity stores, together with 92 Office stores and concessions in the UK, Germany and the Republic of…

Vodacom has launched a patient engagement solution which includes a computer-aided emergency services dispatch system, a first for South Africa’s public healthcare sector. Together with the Northern Cape Department of Health, and under the leadership of the acting head of the provincial health department, Riaan Strydom, Vodacom has created an end-to-end technology solution to make the province’s healthcare services more accessible. The launch, which took place in the Northern Cape, at the Provincial Health Offices highlights how public-private partnerships can spearhead innovation and ultimately save people’s lives. “Since 2019, Vodacom and the Northern Cape Department of Health have been hard…