Author: Gugu Lourie
JSE-listed technology company Jasco has promoted Warren Prinsloo to the position of CEO. He will replace the interim CEO, Pete da Silva. As committed to the market, Da Silva stepped in as interim CEO to ensure stability to the group following the resignation of the previous CEO nine months ago, the company said. Da Silva will resume his role as alternate non-executive director to the Deputy Chairman. Prinsloo, who has been the company’s group Chief Financial Officer (CFO) for the last 15 years, will takeover as CEO with effect from 1 March 2021. He is also currently filling the role…
The Intergovernmental Fintech Working Group (IFWG) Innovation Hub has announced the launch of Project Khokha 2 to explore the policy and regulatory implications of innovation in financial markets driven by distributed ledger technology. Distributed Ledger Technology, such as blockchain, is all about the idea of a “decentralised” network against the conventional “centralised” mechanism. The IFWG was established to respond to changes in the the financial sector is driven by financial technology (FinTech) and promote responsible innovation. The IFWG is made up of the Financial Intelligence Centre (FIC), the Financial Sector Conduct Authority (FSCA), the National Credit Regulator (NCR), National Treasury,…
Teddy Daka, the chairman of JSE-listed group Etion, is joining engineering group Zutari as a joint-CEO. Daka will co-lead Zutari together with current CEO Dr Gustav Rohde. He will focus on digital transformation, technology, strategic partnerships and future growth of Zutari. He is no stranger to the Zutari business, having served as a strategic partner since 2007. As Global Chairman of the Aurecon board from 2013 to 2019, Daka was a key driver of demerging and establishing Zutari. The company officially launched in July 2020 following the decision by the owners of Aurecon Africa in October 2019 to demerge from…
IG, a global firm based in London that specializes in online derivatives trading, has appointed Ndabezinhle Mkhize as an independent chairman of IG Markets South Africa. The company said Mkhize brings over 20 years of local financial services experience to the board. The company ahs been operating in the country for more than 10 years. Mkhize joins IG as it embarks on a significant expansion in its operations in Johannesburg. The company is creating more than 40 new, high-skilled, high-tech jobs, representing a 65% increase in the Johannesburg workforce. Mkhize is the Chief Investment Officer at Eskom Pension and Provident Fund.…
The Hawks’ Serious Commercial Crime Investigation team in Germiston arrested Adriraan Pillay (39) for alleged fraud and corruption involving approximately R130 million tender scam at Cell C. It is alleged that Pillay and his co-accused, Ismail Adanjee Mohamed (44) were both Information Technology (IT) executives at Cell C. He is the second former Cell C IT professional to be arrested and charged in relation to the case. It is allegedly that Pillay and Mohammed colluded with a director of a contracted entity responsible for IT and network service provider, falsely inflated invoices which resulted in an actual loss of over…
Self-driving startup Aurora announced that it entered a partnership with Toyota and auto-parts supplier Denso to develop autonomous ride-sharing vehicles at scale, beginning with a fleet of Toyota Sienna minivans. Engineering teams from Aurora and Toyota will work together to develop and test driverless-capable vehicles equipped with the Aurora Driver, starting with the Toyota Sienna, the self-driving startup said in a blog on Tuesday. Aurora added that by the end of 2021, it expects to have designed, built, and begun testing an initial fleet of these Sienna’s near our areas of development. “Toyota has an unparalleled legacy, engineering expertise, leadership,…
Kia has announced a new brand strategy which will see the automaker transition to electric cars and redefining the entire mobility ecosystem. The company stated that under the new “Plan S” strategy it plans to launch seven new electric cars globally by 2027. It is starting with the launch of its first dedicated electric vehicle (EV) later this year. Kia will strengthen its EV lineup by 2026 with 11 new models – seven dedicated EVs built on the Electric-Global Modular Platform (E-GMP) architecture, and four based on existing ICE derivatives. EVs built on E-GMP aim to set new benchmarks in All-Electric…
MTN announced it plans to sell its 20% associate stake in Belgacom International Carrier Services SA (BICS) to Proximus Group for R1 billion (€100 million). The Proximus Group is the largest telecommunications company in Belgium, headquartered in Brussels. In 2009, BICS and MTN announced the next step in their strategic co-operation by combining their international carrier services, resulting in MTN holding an equity stake in BICS. At the time, the current shareholders of BICS were Belgacom and Swisscom. In terms of the transaction, MTN contributed to BICS the assets of MTN ICS, its international wholesale subsidiary, which generated revenues of…
Facebook said in a statement that it plans to remove posts with false claims that COVID-19 vaccines are “toxic, dangerous or cause autism”. The social media company said it made in consultation with groups like the World Health Organization (WTO), to expand the list of false claims it will remove on its platforms, including Instagram. In October, Facebook prohibited people and companies from purchasing advertising that included false or misleading information about vaccines. In December, it threatened to remove posts with claims that the WTO or government agencies had debunked. The social network says it will also remove posts that claim COVID-19 is human-made…
Telkom’s mobile business is a company reborn. A few years ago, Telkom Mobile, which was known as Heita and 8ta and launched in October 2010, was facing an uncertain future as South Africa’s fourth mobile operator. Fast forward to today, and Telkom Mobile is back in the game and has surpassed struggling Cell C to become South Africa’s third-largest mobile operator. Today, Telkom announced that Telkom Mobile is gaining more market share. Telkom Consumer Business, which is run by Serame Taukobong, continues to be the driver of growth. The Mobile company sustained its growth trajectory with mobile service revenue growing by…