Author: Gugu Lourie

World YMCA and SecondMuse Capital have joined forces to develop innovative finance solutions that break down barriers to youth employment and create jobs in green economy. This collaboration aims to empower underserved young people by guiding them into meaningful work that offers self-sufficiency, dignity, and purpose. SecondMuse Capital, a sister company of innovation firm SecondMuse, recently unveiled findings from the World YMCA Learning to Earning (L2E) Future Economy Lab (FEL), conducted in partnership with Generation Unlimited (GenU). The FEL explored high-potential financial mechanisms to support youth not in employment, education, or training (NEET). The report highlights how innovative finance can…

Discovery Life has released its 2024 claims report, revealing R11.5 billion paid to clients. This includes: R6.85 billion in individual life claims: R3.4 billion for life cover R1.5 billion for severe illness R933 million for disability R673 million for income protection R2.4 billion in Shared-value rewards (health & financial incentives) R2.3B i billion Group Risk payouts Sylvia Steyn, Head of Claims, emphasises: “We paid 99.3% of claims, reinforcing our commitment to clients when they need it most.” Living Benefits Outpace Death Claims Discovery Life pays over 60% of benefits to living clients—far above the industry average (20-30%). Highlights include: R3.1 billion in living benefits (illness, disability, income protection) R2.4 billion…

In the heart of South Africa’s most vibrant township, Shovebike is transforming last-mile delivery with sustainable e-mobility, blockchain incentives, and grassroots empowerment. Founded by Zakhele Mhlanga—whose Zulu name means “build it yourself” – this innovative startup merges tradition and tech, proving that green transport can be both affordable and scalable. A Vision for Sustainable Mobility Shovebike’s name is a fusion of Nguni and English: “Shov” (pedaling) “e” (electric) “Bike” (their vehicle of change) “Our mission is to make cycling – especially e-mobility – a viable, democratic transport solution, not just a lifestyle,” says Mhlanga. “Soweto is awakening to green mobility, and our community isn’t just adopting it—they’re leading it.” Global…

South African-founded food delivery platform Spaza Eats has unveiled Spaza Parcel, a new service that empowers individuals and businesses to send and receive parcels effortlessly. Whether it’s a small business fulfilling orders or someone sending a package to family, Spaza Parcel offers reliable, township-friendly delivery at your fingertips. “Spaza Parcel puts delivery power into the hands of everyday South Africans,” said the company. Key Highlights:  Nationwide Expansion Plans – Currently available in Gauteng, with plans to scale across South Africa soon.  Township-First Approach – Designed to support informal traders, families, and small businesses. Part of a Larger Ecosystem – Spaza Eats is building a digital township ecosystem for…

The Financial Sector Conduct Authority (FSCA) has alerted the public about a fraudulent website (www.viviersbrokers.com) impersonating Viviers Brokers CC (FSP 2246). The scam offers fake investment opportunities, including retirement annuities, unit trusts, and a trading platform for forex, commodities, and indices. Key Red Flags: Viviers Brokers confirmed they do NOT own a website or use one for marketing. The site’s operators are not FSCA-authorised to provide financial services. Scam tactics include: Promising unrealistic returns Pressuring victims with urgency Demanding upfront payments Offering vague investment details How to Verify Legitimate Providers: Call FSCA: 0800 110 443 (toll-free) Check authorised entities: FSCA Regulated Entities List FAIS Act Authorised FSPs Why This Matters: South Africans lose millions…

The Financial Sector Conduct Authority (FSCA) has issued a public warning about a scammer impersonating Mr. Luzuko Nomjana, a representative of Prescient Investment Management (Pty) Ltd (FSP No. 612). Key Details of the Scam: The fraudster is using Mr. Nomjana’s name and photo on WhatsApp to deceive victims. A confirmed ABSA bank account (9384035403) is linked to the scam. Prescient’s Compliance Officer, Ms. Nazley Herandien, confirmed they were alerted by a victim who was defrauded. How to Protect Yourself: Verify financial service providers by contacting the FSCA: Toll-Free: 0800 110 443 Online Search: Check authorised FSPs here | FAIS Act authorised providers (Replace with actual links) Be cautious of unsolicited investment offers on WhatsApp, social media, or messaging platforms.…

Eskom has reported a decrease in theft and vandalism of critical electricity infrastructure, including mini-substations, transformers, and high-voltage pylons, compared to the previous year. However, these criminal acts remain a severe threat to South Africa’s power stability and public safety. Recent Arrests and Financial Impact A recent intelligence-driven operation by the South African Police Service (SAPS) led to the arrest of six suspects found with stolen Eskom equipment worth R1.5 million. The suspects appeared in the Ngwelezane Magistrate’s Court on 7 April 2025. From April 2024 to February 2025, infrastructure-related crimes cost Eskom R221 million, down from R271 million in the same period the previous year.…

How Smart Technology is Transforming Air Travel The air transport industry is undergoing its most significant transformation since the rise of the internet in the early 2000s. With passenger numbers expected to double by 2043 – reaching 7.9 billion travelers annually -airports face a critical challenge: how to handle this surge without unlimited space or resources. In a white paper titled ‘Airports of the Future’, SITA, a leading air transport technology specialist, highlights that while demand is skyrocketing, airports cannot expand at the same rate. Instead, they must optimize operations, reduce friction, and speed up passenger journeys: all while embracing cutting-edge technology. The Challenge: More Passengers,…

The latest figures hint at a market in transition—what’s driving the changes in new and used car sales? Following a strong performance in January 2025, the new and used car industries have maintained momentum throughout February. As the shortest month of the year, minor month-on-month (MoM) decreases are to be expected, but year-on-year increases in both segments suggest renewed consumer confidence and strong sales for the year ahead. The latest data from AutoTrader, South Africa’s most trusted motoring marketplace, reflects a solid performance in the used car industry. Even though February typically has fewer selling days than other months (and February…

The smartphone market has reached a new pinnacle with the arrival of the Huawei Mate XT | ULTIMATE DESIGN in South Africa. Priced at a staggering R69,999, this revolutionary tri-fold device isn’t just a phone: it’s a statement. But with such an eye-watering price tag, one question lingers: Is this the most expensive smartphone ever sold in South Africa? A New Era of Foldable Innovation Huawei has pushed boundaries yet again with the Mate XT, the world’s first tri-fold smartphone. When fully unfolded, it transforms into a 10.2-inch tablet, yet folds down to a compact size that fits comfortably in your pocket. The engineering…

Owning a Mercedes-Benz is knowing that every journey comes with something more. It’s that quiet confidence when you start the engine. It’s that reassurance that, no matter where the road leads, you’re backed by the very best. But what if that feeling didn’t stop with the drive itself? Mercedes-Benz South Africa is proud to introduce the all-new PremiumDrive Exclusive Care service and maintenance plan, offering a comprehensive 7-year/140,000 km contract that ensures peace of mind and unrivalled convenience for owners. A New Era in Service Coverage We are thrilled to launch our new PremiumDrive Exclusive Care service and maintenance plan. This 7-year/140,000 km service and maintenance contract is…

The Financial Sector Conduct Authority (FSCA) is alerting the public about an individual falsely claiming to represent Compsure Insurance Consultants (Pty) Ltd (FSP No. 47507). The scammer, identifying himself as Mr. Makhanya (073 809 6097), has been contacting people to promote Forex trading, using a copy of Compsure’s license to appear legitimate. Compsure’s Compliance Officer, Mr. Lourens De Jongh, confirmed that Mr. Makhanya has no association with the company and was never authorized to act on its behalf. The FSCA urges the public to verify financial service providers before engaging by: Calling 0800 110 443 (toll-free) Checking authorized providers online via FSCA’s website Confirming FAIS Act registration here Beware of rising scams—always double-check…

The Financial Sector Conduct Authority (FSCA) is warning the public about a fraudulent scheme where scammers impersonate 10X Investments (Pty) Ltd (FSP No. 28250) on WhatsApp and Telegram. These fraudsters are using stolen identities of 10X staff, including Chief Operating Officer Caroline Naylor-Renn, to lure victims with fake bitcoin investment promises. 10X Investments has confirmed that they do not use Telegram or WhatsApp for business and do not endorse any such communications. The FSCA urges the public to be vigilant against rising scams on messaging and social media platforms. Always verify an entity’s authorization with the FSCA before investing. Stay alert—fraudsters are targeting unsuspecting…

The GoGettaz Agripreneur Prize Competition is back for its seventh year, calling on Africa’s brightest young agripreneurs to showcase their innovative agrifood businesses and compete for a US$160,000 prize pool. Applications open today, 3 April 2025, and close on 10 June 2025, offering founders and co-founders (aged 18-35) the chance to drive food systems transformation across the continent. A Platform for Africa’s Agri-Food Innovators The competition, an integral part of the Africa Food Systems Forum (AFSF), seeks tech-savvy, scalable, and sustainable businesses that address food security, job creation, and economic growth. Finalists will pitch live at the AFSF Summit in Dakar, Senegal (31 August – 5 September…

The Presidency has noted the new 30% tariff imposed on South African exports to the United States of America (USA). On Wednesday, US President Donald Trump signed an executive order imposing “reciprocal tariffs” on some of its trading partners, including China, the European Union, Australia and Brazil. In a sweeping move that sent shockwaves through global markets, US President Donald Trump unleashed a new trade war on Wednesday, imposing a blanket 10% tariff on all imports—with punitive rates for nations he branded as the “worst offenders.” Among them? South Africa. “America First” Goes Nuclear Flanked by aides and wielding a dramatic chart,…

Amazon today announced the launch of its first Think Big Space on the African continent at its Cape Town headquarters, expanding its global network of science, technology, engineering, and mathematics (STEM) education. In partnership with Tangible Africa, a non-profit organization, the initiative aims to train 100 educators to reach 10,000 learners (Grades 8-12) across six South African provinces: Eastern Cape, Gauteng, KwaZulu-Natal, Limpopo, Northern Cape, and Western Cape. The program focuses on foundational coding and digital skills development, addressing critical gaps in STEM education. Bridging the STEM Education Gap in South Africa Learners in rural and township schools across South…

The Financial Sector Conduct Authority (FSCA) has imposed administrative sanctions on three financial services providers (FSPs) for failing to comply with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations under the Financial Intelligence Centre Act (FIC Act). The FIC Act is key to fighting money laundering, terrorism financing, and financial crime. The FSCA’s crackdown signals stricter enforcement ahead. Businesses must audit their processes or risk heavy fines. The sanctioned firms are: Adams Chrambanis & Associates CC (FSP 11858) ID Capital (Pty) Ltd (FSP 10953) Henk Kolver Investment Management Services CC (FSP 5385) “These compliance failures undermine South Africa’s financial integrity. We will not tolerate negligence in AML/CFT controls,” the FSCA stated. Key Violations…

The Financial Sector Conduct Authority (FSCA) has issued a stern warning to the public regarding Mr. Jacques Adriaan Jordaan, an individual allegedly soliciting investments with promises of unrealistic returns. According to the FSCA, Jordaan has been encouraging members of the public to deposit funds into personal trading accounts under his control, claiming he will trade on their behalf for high profits. However, the regulator has received complaints that Jordaan failed to deliver returns and has since become unreachable. “Trading profits cannot be guaranteed, and offers of unrealistic returns should always be treated with extreme suspicion,” the FSCA stated. The FSCA confirmed that Jordaan is not authorised to provide any financial services…

South Africans in rural areas and townships can now realize the value of their home investments through E-DEED, a blockchain-powered digital solution that certifies property values, providing homeowners with secure, recognized proof of ownership and improvement. “Homeowners in these communities have poured immense resources into their properties, building not just homes but also rental units and other income-generating structures,” said GG Alcock of KasiNomics, a co-founder of E-DEED. “For example, using our E-DEED evaluation technology in 2010, the value of Soweto’s houses was over R103 billion, by 2024, it reached R116 billion. That’s a R13 billion increase, not in appreciation but…

The Coega Development Corporation (CDC) has announced the appointment of Themba Koza as its new Chief Executive Officer (CEO), effective 1 April 2025. A Strategic leader for growth Dr. Luvuyo Bono, Chairperson of the CDC Board, stated: “This decision follows a comprehensive recruitment process undertaken by the CDC Board to identify a leader capable of steering the organisation towards its mission of being the most successful Special Economic Zone (SEZ) in South Africa and enhancing its reputation across the African continent and beyond.” CDC said Koza, a seasoned insider with over two decades at CDC, brings deep institutional knowledge, strategic vision, and a strong investment track…

The South African Revenue Service (SARS) has announced a record gross revenue collection of R2.303 trillion for the 2024/25 fiscal year, reflecting 6.9% year-on-year growth against estimated nominal GDP growth of 5.4%. Despite economic headwinds, SARS paid out R447.7 billion in refunds, the highest ever, boosting economic activity. Net collections reached R1.855 trillion, exceeding revised estimates by R8.8 billion. Key Highlights Tax-to-GDP ratio: 24.8%, signaling strong fiscal health. Tax buoyancy: 1.20, showing revenue growth outpacing GDP. Refund fraud prevention: SARS blocked R146.7 billion in fraudulent claims. SARS Commissioner Edward Kieswetter stated: “I am pleased that the R447.7 billion returned into the hands of taxpayers is good for the economy. I, however, remain…

Eskom has launched a campaign to assist residential owners of Small-Scale Embedded Generation (SSEG) systems, including solar photovoltaic (PV) installations, in complying with National Energy Regulator of South Africa (NERSA) regulations. Eskom Confirms No Registration Fees for Most Residential Customers Eskom spokesperson confirmed: “Since March 2023, we have not charged registration fees or smart meter costs for residential PV systems up to 50kVA. This exemption will remain until March 2026, including free smart meters.” Non-residential SSEG systems above 50kVA follow a different fee structure. Once registered, residential customers shift to the Homeflex tariff, benefiting from energy export credits while paying the same…

In a bold move to reshape food aid distribution across South Africa’s informal economy, SA Harvest has introduced a tech-enabled beneficiary vetting system. Developed with Garnish Global, the app ensures food reaches legitimate community-based organisations (CBOs) while generating data to drive broader social impact. As South Africa’s leading food rescue organisation, SA Harvest is using technology not just to deliver meals but to build deeper relationships and spotlight key players in hunger relief. “Food is our starting point, our currency, but our real work is about enabling systematic change,” says COO Ozzy Nel. “This vetting system gives us visibility into…

Intel CEO Lip-Bu Tan, speaking to a broad tech ecosystem on Monday at Intel Vision 2025, shared insight into his approach to restore the company’s technology and manufacturing leadership. Pulling from his previous leadership roles and deep-seated industry experience, Tan reinforced that a customer-centric mindset will serve as the cornerstone of Intel’s strategy to leverage emerging technological advancements and capitalize on the significant software, hardware and foundry engineering opportunities ahead. As CEO, my No. 1 priority has been spending time with customers,” Tan said to hundreds of customers and partners during the event keynote in Las Vegas. “Under my leadership, Intel…

The Financial Sector Conduct Authority (FSCA) has imposed a R4.4 million administrative penalty on Hernell Funerals (Pty) Ltd, along with its directors, Mr Shaun Andre Peterson and Mrs Carol-Ann Peterson, for offering unauthorised financial services. Additionally, Mr Peterson was debarred for five years, while Mrs Peterson faces a 10-year ban from the industry. The FSCA’s investigation revealed that Hernell Funerals and the Petersons violated Section 7(1)(a) of the FAIS Act and Section 5(1) of the Insurance Act by selling funeral cover policies without the required licenses. “Hernell Funerals and its directors illegally provided financial services, including life insurance, without being registered as a financial services provider or a long-term insurer,” the FSCA stated. As a…