Author: Gugu Lourie

Sunbet, the online betting platform of JSE-listed Sun International, has sustained its remarkable growth trajectory, with income surging by 60.6% to R1.2 billion for the year ending December 2024. This achievement marks another instance of the platform exceeding its ambitious growth targets. Sun International, a leading South African casino and hotel group, attributed this success to the rapid expansion of online gaming, driven by technological advancements, shifting social attitudes, and other industry dynamics. However, the company emphasized the need for enhanced compliance monitoring to address the challenges of operating in an increasingly vulnerable digital landscape. “As responsible corporate citizens, we…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. The following note from Lip-Bu Tan was emailed to all Intel Corporation employees on March 12, 2025: Team, I’m humbled and honoured to be your next CEO. Intel is a company I have long admired. Since I was a child, I have been captivated by the power of science, technology and engineering — and Intel’s innovation has been at the heart of so many world-changing breakthroughs along the way. Of course, as we all…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. Tan will succeed Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Additionally, Tan will rejoin the Intel board of directors, having previously stepped down from the board in August 2024. Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors. Zinsner will continue in his role as executive vice president and chief financial officer, while Johnston Holthaus will remain CEO…

The Association of Comms and Technology (ACT) – an industry body – has welcomed the National Treasury’s proposal to exempt smartphones priced at R2,500 or less from the 9% ad valorem excise duty, effective 1 April 2025. This move aims to support digital adoption among low-income households. Currently, smartphones in South Africa are subject to a 9% excise duty. However, the Treasury announced on Wednesday that this duty will now apply only to devices priced above R2,500. ACT CEO Nomvuyiso Batyi hailed the decision as a significant step toward digital inclusion. “This tax exemption is a game-changer for millions of…

The Democratic Alliance (DA) has firmly rejected the ANC’s proposed budget, citing concerns over permanent tax increases and a lack of economic reforms. In light of new and persistent spending pressures in health, education, transport and security, government has decided to raise value-added tax (VAT) by 0.5 percentage points in each of the next two years, which will bring VAT to 16% in the 2026/27 financial year. “These have to do with the government properly fulfilling its service delivery mandate. After careful consideration, the government has decided to fund these. Deferring the funding of these sectors further would compromise the…

Consolidated government spending is expected to increase from R2.4 trillion in 2024/25 to R2.83 trillion in 2027/28, at an annual average of 5.6%. Consolidated expenditure will reach R2.59 trillion in 2025/26. This according to National Treasury’s 2025 Budget Review document. The majority of that spend will fund the social wage, which includes spend on health, education, social protection (grants), community development and employment programmes. “Over the medium-term, economic development is the fastest-growing function at an annual average rate of 8.1%, driven by higher allocations to infrastructure projects. “Spending is highly redistributive, with the social wage making up 61% of total…

Cape Town has become the first city in South Africa to deploy advanced pole manipulator trucks, designed to enhance streetlight maintenance and repairs. These state-of-the-art vehicles, equipped with cutting-edge technology, are set to transform the efficiency and safety of streetlight operations across the metro. The City maintains over 245,000 streetlights, with plans to invest over R63 million in its fleet of aerial platform trucks, crane trucks, and light motor vehicles in the new financial year. During a recent demonstration in Epping, Alderman Xanthea Limberg, the City’s Mayoral Committee Member for Energy, highlighted the capabilities of the new 26-tonne pole manipulator…

The moment we’ve all been waiting for is finally here! TechFinancials, in collaboration with the Empire Partner Foundation, today kicks off the TechFinancials Q&A Competition, a platform for brilliant minds to share their ideas and win big! Do you have a vision for a better home, community, or country? Here’s your chance to turn your ideas into reality and get rewarded for it! The Empire Partner Foundation and TechFinancials believe in the power of innovation and the ability of individuals to be the change agents of tomorrow. That’s why they’ve teamed up to create this exciting competition, where your insights…

Butterworth, also known as Gcuwa, a town in the Eastern Cape Province, is poised for a major transformation with the development of the R352 million Gcuwa Mall. Strategically located along the N2 in the Amathole District, this state-of-the-art retail hub will serve as a central economic driver for the greater Mnquma Municipality and beyond. The first phase of the project features a 17,000m² gross leasable area, including a modern retail centre, a drive-thru facility, a newly constructed taxi rank with kiosks for informal traders, and essential road infrastructure upgrades. Plans are already in place to expand the mall to 25,000m² in the near…

Johannesburg is set to welcome a game-changing addition to its urban landscape as Attacq, a leading property developer, announces plans for a state-of-the-art conference centre and hotel in the heart of Waterfall City. With a staggering R2.75 billion allocated for new developments, this project promises to redefine the city’s commercial and hospitality sectors. The crown jewel of the development is the 15,000 sqm Waterfall City Conference Centre and Hotel, designed to become a premier destination for business and leisure travelers alike. But that’s not all – Attacq’s ambitious plans include Gateway East, an innovative 11,700 sqm collaboration hub featuring a 1,500…

Attacq, the property group behind Mall of Africa and Mooirivier Mall, has partnered with Vantage Data Centres in a 50/50 joint venture to construct a 10,363m² “dark shell” structure. This project forms the first half of Phase 2 of a larger data centre campus being developed in collaboration with Vantage. The double-story building will feature four data halls, with construction already underway: Projected initial total electrical load of 12MW ramping to 16MW over time Majority of the building will contain data processing rooms Air-conditioning supporting these data halls Initially 6 electrical power generators totalling circa 14MW 48-hour backup fuel cap…

Attacq, the property group behind renowned retail hubs like Mall of Africa and Mooirivier Mall, is advancing its water resilience strategy through smart technology and backup solutions. The company is investing R10 million to install 749 smart water meters across its portfolio by June 2025, integrating them into its Smart Utility Hub (SUH) for real-time monitoring of water and energy consumption. The SUH platform enables data-driven decision-making by tracking water usage, renewable energy production from rooftop PV systems, and generator outputs. This digital integration enhances operational efficiency and resource management, ensuring sustainable operations across Attacq’s properties, which include Eikestad Mall,…

Eskom has successfully restored Koeberg Nuclear Power Station’s Unit 2 to service following an unplanned outage caused by a steam leak on the reheat system. The unit was brought back online on Sunday, 9 March, at 18:17 and is currently operating at 646MW, with plans to ramp up to its full capacity of 930MW in line with operational protocols. Eskom confirmed that the issue was resolved using robust nuclear safety protocols, ensuring a safe return to service without compromising safety standards. “Koeberg is a key contributor as part of Eskom’s energy generation mix and stabilising electricity supply in South Africa…

TechFinancials, in collaboration with Empire Partner Foundation (EPF), is excited to introduce the TechFinancials Q&As: a pioneering initiative designed to ignite debate and innovation among South Africa’s youth. Empowering Young Innovators Over the next nine months, young minds will have the opportunity to share insights on which sectors need the most innovation and how technology can drive meaningful change in jobs, services, and knowledge transfer. What is TechFinancials Q&A? This is more than just a competition – it’s a platform for young innovators to voice their ideas and shape South Africa’s future. Each month, participants will engage with thought-provoking questions…

The stage is set, the lights are dimmed, and anticipation is building, South Africa’s premier tech celebration is back! Mark your calendars for October 25, 2025, as the EPF Tech Awards return for their third and most spectacular edition yet. Bigger, bolder, and more impactful than ever, this year’s event will take centre stage at the iconic Sandton Convention Centre, bringing together the brightest minds in technology to celebrate innovation, excellence, and the future of South Africa’s ICT sector. More than an awards ahow: a movement for change Dubbed the “Tech Oscars” of South Africa, the EPF Tech Awards go…

The City of Johannesburg is reportedly considering regulations for car dash cams, a growing trend among South African drivers seeking added security and peace of mind on the road. Dash cams have surged in popularity across South Africa, yet their legal status remains unclear. Currently, no specific laws govern their use, but this may soon change for Johannesburg residents. Dr. Mgcini Tshwaku, Johannesburg’s MMC for Public Safety, today discussed the potential for new by-laws on car dash cams during an interview with Newzroom Afrika’s AMReport405. He emphasised that any regulations would need to align with the Protection of Personal Information…

The Riverstone Mall in Meyerton, a small town 18 km north of Vereeniging in Gauteng, is set to open on 27 March 2025. This 20,000m² convenience mall will feature approximately 53 retail tenants, including anchor stores like Checkers FreshX, Woolworths Food, and Dis-Chem. Shoppers can also look forward to a mix of fashion, financial services, grocery, entertainment, and dining options. With over 1,000 parking bays, a food court, and two drive-thru outlets, the mall is designed to cater to all needs. Alley Roads, the developer, revealed that the construction phase created over 1,200 jobs. Riverstone Mall is part of Alley…

Gauteng’s e-Government Department has slashed its broadband expansion targets, leaving schools, clinics, and residents without essential internet access. Despite receiving an additional R152.8 million in the adjustment budget, the department has drastically reduced its rollout plans, ignoring the growing demand for connectivity. Ina Cilliers, DA Gauteng Shadow MEC for e-Government, criticised the cuts, stating, “This decision leaves millions of Gauteng residents, who already struggle to afford expensive data, without access to vital online resources for jobs, education, and healthcare.” The department has allocated 70% of its broadband budget to maintenance and support, leaving only 30% for new infrastructure. As a…

The all-new Volvo ES90 isn’t just another electric vehicle, it’s a groundbreaking fusion of cutting-edge technology, Scandinavian design, and uncompromising versatility. Built on Volvo’s next-generation SPA2 architecture and powered by the revolutionary Superset tech stack, the ES90 redefines what an electric car can be. With its debut 800-volt technology, this flagship sedan-fastback-SUV hybrid is set to dominate the roads, offering faster charging, longer range, and a driving experience like no other. Volvo ES90: a new class of electric excellence The Volvo ES90 is a masterclass in design and functionality. Is it a sedan? A fastback? Or an SUV? The answer…

Nedbank’s Avo SuperShop, which has been in the market for four years, recorded approximately 2.8 million registered clients for the year ended 31 December 2024. This marks a 9% year-on-year increase in its registered client base. According to Nedbank, Avo SuperShop continues to scale, with total gross merchandise value (GMV) growing by 21% year-on-year across all Avo ecosystems. Expanding Avo SuperShop Since launching in Namibia in the second half of 2023, the first of its kind in the market, Avo SuperShop has gained over 2,250 registered users. The platform currently offers more than 3,300 products from 25 merchants. “Continuous improvement…

Nedbank has appointed Nomonde Hlongwa as its new Group Chief Compliance Officer (CCO), replacing Daleen du Toit, who will retire on 16 May 2025 after a decade at the bank. Who is Nomonde Hlongwa? Hlongwa, an admitted attorney with 18 years of experience, is currently the CCO for Business and Commercial Banking at Standard Bank. She brings extensive expertise in legal, risk, and compliance management and has worked across multiple African markets over the past decade. Leadership Changes at Nedbank Wealth Nedbank also announced that Iolanda Ruggiero, Managing Executive of Nedbank Wealth, will take early retirement on 31 March 2025,…

Canal+ and MultiChoice have extended the deadline for completing their merger process, giving more time for regulatory approvals. Canal+ made a mandatory offer to acquire all MultiChoice shares it does not already own for R125 per share in cash. The offer was detailed in a combined circular published on 4 June 2024. Regulatory approvals are still in progress. Canal+ and MultiChoice have been working with the Competition Commission, Independent Communications Authority of South Africa (ICASA), and other regulators to clear the deal. New Deadline: 8 October 2025 Originally, all conditions for the deal needed to be met by 8 April…

ArcelorMittal South Africa’s (AMSA) decision to shut down its long steel business, putting over 80,000 jobs at risk, exposes the deep flaws in the country’s industrial policies, says Mlondi Mdluli, DA Deputy Spokesperson on Trade, Industry & Competition. “This is a devastating blow for workers and a direct result of failed government policies that have crippled the sector,” Mdluli said. He pointed to three key policy missteps: Departmental Master Plans that have artificially propped up selected companies, including AMSA, fostering dependency rather than competition. Price Controls (Price Preference System) forcing scrap metal to be sold domestically at below-market prices before…

Private security operators rely on CCTV to protect communities, but new by-laws passed by the City of Johannesburg may restrict its effectiveness, warns Vumacam, a provider of camera-based security technologies. Promulgated on 28 February 2025, the new regulations state that “no data or information collected through a CCTV camera shall be disclosed or shared with any person not authorised to have access to such data” and that “all CCTV camera footage or imagery of captured criminal incidents that require further investigation shall be kept confidential.” While Vumacam supports lawful, fair, and reasonable regulation, the company expressed disappointment that its legally…

South African AgriTech startup Khula has raised an impressive R126 million from its existing investors, including Absa Bank, AECI, E Squared, and PepsiCo’s Kgodiso Fund. The round also saw contributions from Khula’s founders, Karidas Tshintsholo and Matthew Piper, with E Squared Investments leading the charge as the first institutional backer of the startup. AgriTech, or agricultural technology, refers to innovations that enhance efficiency and productivity across the farming industry. This includes digital platforms, smart farming tools, and data-driven solutions aimed at solving critical challenges in agriculture. Khula has been at the forefront of this sector, developing an ecosystem that empowers…