Author: Gugu Lourie

FedEx Express serves more than 100 markets across the AMEA (Asia Pacific, Middle East, and Africa) region. This was contained in the FedEx’s annual economic impact report, analysing the company’s worldwide network and role in fueling innovation during its 2023 fiscal year. The study demonstrates the positive impact FedEx has on individuals and communities around the globe — otherwise known as the ‘FedEx Effect’. The study found that with its extensive network, FedEx Express contributed 0.3% of net economic output in the Transportation, Storage, and Communications sector in AMEA during FY 2023. Across all sectors of the AMEA economy, FedEx…

Read More

Volvo Car SA has recorded a significant year-on-year increase in sales of its plug-in hybrid models, demonstrating the local market’s growing appetite for electrified vehicles from the Swedish luxury brand. Over the first nine months of 2023, registrations of Volvo’s plug-in hybrid vehicles in South Africa grew by more than 33% compared with the same reporting period in 2022. This comes after the Gothenburg-based firm recently detailed its dominance of the fully electric premium C-SUV segment. The XC90 Recharge plug-in hybrid – which is currently the flagship in the local Volvo line-up – was the key driver of this latest sales…

Read More

JSE-listed telecoms firm Telkom is requesting that Independent Communications Authority of South Africa (ICASA)  defer the second spectrum auction to 2025. Spectrum – the lifeblood of the telecoms industry – relates to the radio frequencies allocated to the mobile industry and other sectors for communication over the airwaves. In 2022, ICASA successfully completed an auction for spectrum, catering to both 4G and certain 5G requirements. In June, ICASA said it intends to issue a tender to appoint a consultant to assist it in the licencing of the International Mobile Telecommunications (IMT) spectrum. ICASA said the consultant’s duties will include conducting an auction…

Read More

In a strategic move aimed at unlocking value and optimizing its business portfolio, telecommunications giant Telkom has embarked on discussions to sell its mast and tower business housed in Swiftnet, a wholly-owned subsidiary of the company. Shareholders were alerted to this decision through Telkom’s previous communication, highlighting the company’s commitment to a competitive disposal process in line with its value unlock strategy. In a recent update, Telkom disclosed that it is currently engaged in exclusive negotiations with a preferred bidder for the potential disposal of Swiftnet. The outcome of these negotiations, if successful, could have a substantial impact on the…

Read More

Microsoft said on Monday it remained committed to our partnership with OpenAI. The tech giant also announced that it has appointed ousted OpenAi CEO. “We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate with everything we announced at Microsoft Ignite, and in continuing to support our customers and partners,” Microsoft CEO Satya Nadella, said. “We look forward to getting to know Emmett Shear and OAI’s new leadership team and working with them. And we’re extremely excited to share the news that Sam Altman and Greg Brockman, together with…

Read More

In its continuous commitment to expedite the widespread embrace of electric mobility, Audi South Africa has initiated a nationwide awareness initiative designed to inform the public about electric vehicle (EV) charging. As a key component of this initiative, Audi has substituted conventional charging stations with miniature versions of the brand’s electric vehicle chargers within Bidvest Premier Lounges at the domestic departure terminals of Cape Town and OR Tambo International Airports. Scheduled to run until the conclusion of January 2024, the campaign encourages individuals to replenish their mobile devices using Audi’s compact EV chargers while awaiting their flights. By enabling passengers…

Read More

On November 15, 2023, Daimler Truck Southern Africa (DTSA) made history as the first global market to introduce the Daimler Truck Parts Portal—an online eCommerce platform. This click-and-collect system allows customers to purchase over 400 parts online, including oil, batteries, service, and wear and tear components, for pick-up within 24 hours at their chosen dealership. Future plans involve expanding the product range to include maintenance and collision parts, as well as offering home delivery services. “The Daimler Truck Parts Portal is a game changer in the commercial vehicle market, and we are thrilled to be part of the development team,…

Read More

Momint, the Cape Town-headquartered blockchain firm specialising in real assets and legal contracts, achieved the prestigious title of Entrepreneur of the Year at the inaugural EPF Tech Awards. The awards ceremony, often likened to the Oscars for innovators, unfolded at the glamorous The Ballroom, Monte Casino in Johannesburg. Distinguished for its groundbreaking contributions, Momint showcased its innovative solutions at the EPF Tech Awards, where exceptional minds were recognized across diverse categories. The Momint platform stands out for streamlining transactions through its integrated digital wallet and leveraging decentralized finance to transform the landscape of solar investments. After hosting Africa’s largest Digital…

Read More

While October was the third consecutive month of decline in new vehicle sales in South Africa, used car sales remain resistant to economic pressures. According to the used car sales data supplied by AutoTrader, a total of 32,839 used cars moved through AutoTrader’s platform in October 2023, 14% more than the 28,902 cars for October 2022¹. In a stark contrast, according to naamsa | The Automotive Business Council, 29,912 new passenger cars were sold in South Africa during October 2023 – a decline of 1,068 cars, or a reduction of 3.5% versus the 30,980 new cars sold in October 2022. A…

Read More

Mineworkers Investment Company (MIC) pours R68.5 Million into Pineapple, South Africa’s prominent Insurtech firm. The infusion of funds reflects MIC’s dedication to fortifying its primary portfolio with cutting-edge direct investments, focusing on enterprises exhibiting robust growth potential, scalability, and effective management, affirms Nchaupe Khaole, MIC’s Chief Investment Officer. This strategic move aligns with Pineapple’s larger R400 million series B funding round. “We have had a long-standing interest in the insurance industry, driven by the global trend integrating technology into financial services. Pineapple’s unique value proposition lies in its robust technology infrastructure, enabling seamless and rapid onboarding of new policyholders. MIC…

Read More