Author: Gugu Lourie

The Democratic Alliance (DA) has vehemently rejected the appointment of three new Sector Education and Training Authority (SETA) administrators, labelling them as corrupt ANC cadres unfit for the critical task of cleaning up the troubled entities. The party’s National Spokesperson and Member of the Committee on Higher Education and Training, Karabo Khakhau, condemned Deputy Minister Buti Manamela’s decision to appoint Oupa Nkoane, Lehlohonolo Masoga, and Zukile Mvalo as administrators for the Construction, Services, and Local Government SETAs respectively. “These appointees are unfit, implicated in corruption, mismanagement, and fraud in previous government jobs, or have proved themselves useless in the SETA…

In a bold move that significantly deepens its investment in South Africa’s vital township economy, Dipula Properties has secured a landmark deal: the R480 million acquisition of Soweto’s Protea Gardens Mall. This purchase is the crown jewel in a series of five strategic acquisitions totalling approximately R700 million, underscoring the REIT’s aggressive commitment to long-term value creation. The story is one of a company strategically deploying capital where it knows best. As a prominent South Africa-focused REIT with a defensive portfolio, more than two-thirds of Dipula’s income already derives from retail centres in townships, rural areas, and urban convenience nodes.…

Sustainable chemicals producer SUISO has signed a Basic Engineering Design (BEP) contract with Chinese engineering firm ECEC to construct the R31.5-billion ($1.6 billion) Hiryo coal-to-fertiliser industrial complex in Kriel, Mpumalanga. The agreement was finalised in dual signing ceremonies in Johannesburg and Hefei on 13 August, following ECEC’s selection from a competitive bidding process. ECEC (East China Engineering Science and Technology Co. Ltd), a subsidiary of China National Chemical Engineering Co., is a Shenzhen-listed firm with a global reputation, having completed over 2,200 projects in chemicals, power,and green energy. “This exciting transaction saw five engineering firms bidding over two years, with ECEC emerging as the winner,” said Gerhard Potgieter, SUISO’s Director of Engineering and the…

Elon Musk’s SpaceX’s satellite internet venture, Starlink, has formally endorsed South Africa’s proposed Broad-Based Black Economic Empowerment (B-BBEE) policy reforms, advocating for Equity Equivalent Investment Programmes (EEIPs) as an alternative to the mandatory 30% black ownership requirement for telecom license holders. In an exclusive written response obtained by TechFinancials, Ryan Goodnight, Senior Director of Starlink Market Access, stated: “SpaceX commends the Department for this timely policy direction and welcomes the opportunity to discuss our response with the Department at your earliest convenience.” The statement follows SpaceX’s submission to the Independent Communications Authority of South Africa (ICASA) regarding its Proposed Policy Direction on B-BBEE alignment in the ICT sector,…

AdvannoTech, a 100% black-owned Internet of Things (IoT) solution provider, is transforming South African industries through its innovative partnership with Telkom Consumer and Small Business. This collaboration has propelled AdvannoTech from enterprise development to supplier development, unlocking national market opportunities and accelerating growth. “Becoming a solutions partner for Telkom Consumer has been transformational,” said Xolani Zuma, CEO of AdvannoTech.  “Telkom’s endorsement as a trusted national brand gives our clients confidence in our technology, while their extensive market reach has opened doors to enterprise-level opportunities across South Africa.” A strategic collaboration driving innovation Dr. Mmaki Jantjies, Telkom Group’s Executive for Innovation and Transformation,…

Anushka Bogdanov, founder of ESG data science firm Risk Insights and former EOH director, has stepped down from her consultancy following a Johannesburg Stock Exchange (JSE) ruling. The JSE imposed a R500,000 fine and a 10-year directorship ban after discovering she falsely claimed to hold a PhD from the London Business School. Bogdanov served as an independent non-executive director at EOH Holdings (now iOCO) from June 2019 until her resignation in July 2020. During her tenure, her CV and JSE declarations stated she held a PhD in International Financial Management and Mathematics from the London Business School. However, EOH later found she…

Vodacom today announced that it has received the go-ahead from South Africa’s Competition Appeal Court to proceed with its proposed acquisition of a 30% stake in Maziv, the entity that houses all the fibre assets owned by Community Investments Ventures Holdings (CIVH), including Vumatel and Dark Fibre Africa. The acquisition is subject to a set of revised conditions, proposed by the merger parties and the Competition Commission ahead of the Competition Appeal Court hearing on 22 July 2025. This approval marks a significant milestone in Vodacom’s strategic efforts to expand its fibre footprint and enhance digital connectivity across South Africa.…

“Wait, who is this car actually for?” My wife’s WhatsApp video call froze mid-sentence as I proudly panned the camera across the Volvo EX30 Cross Country’s rugged silhouette against Bronkhorstspruit’s golden light. When the WhatsApp video call connection stabilised, I saw her eyes alight with that particular spark, half curiosity, half challenge. She wasn’t asking about the usual suspects, not the suburban adventurers or safety-conscious families who’ve long loved Volvo’s Cross Country lineage. Her question cut deeper: “Who’s the new dreamer this car is meant for?” The answer unfolded like a map to uncharted territory: South Africa’s burgeoning tribe of…

Nedbank Group, a top South African financial services provider, has announced a binding agreement to acquire 100% of fintech innovator iKhokha in an all-cash deal worth approximately R1.65 billion (subject to adjustments). This acquisition reinforces Nedbank’s strategy to enhance digital financial solutions for small and medium-sized enterprises (SMEs). The transaction, pending regulatory approvals, is expected to finalize in the coming months. Founded in 2012, iKhokha has become a trusted partner for South African entrepreneurs, offering affordable payment solutions and business management tools. Post-acquisition, iKhokha will operate as a wholly owned Nedbank subsidiary while retaining its brand and leadership. Strategic Alignment…

Airtel Africa and Vodacom Group have entered a strategic infrastructure-sharing agreement in key African markets, including Mozambique, Tanzania, and the Democratic Republic of Congo (DRC), pending regulatory approvals. The collaboration, focused on fibre networks and tower sharing, aims to accelerate digital services, reduce costs, and enhance connectivity for millions. By pooling resources, the partnership will deliver faster internet, broader coverage, and more reliable services, particularly in underserved regions. This move supports both companies’ goals of closing Africa’s digital divide while driving economic growth through improved access to mobile, fixed, and financial services. Vodacom’s Vision: A Connected, Inclusive Africa Vodacom Group…