Author: Gugu Lourie
Today, Prosus published a letter to shareholders from CEO Fabricio Bloisi, which outlines Prosus’s performance for the financial year ending 31 March 2025. The financial information disclosed today has yet to be audited. Highlights include: FY25 Ecommerce aEBIT of more than $435 million, exceeding our goal of $400 million OLX revenue growing at close to 20%, with FY25 aEBIT up over 50% to around $270 million iFood delivering over 120m orders per month, and FY25 aEBIT increased by more than 100% to more than US$200m. $2.4 billion raised through trimming of Swiggy position at listing, selling of stakes in Trip and Tazz,…
FNB has recorded over R100 billion in virtual card transactions since launching the digital payment solution in October 2020, with R50 billion spent in 2024 alone. The bank’s latest data reveals a 108% year-on-year (YoY) surge in in-store virtual card usage, highlighting growing consumer trust in secure digital payments. Key Growth Metrics 5.3 million active virtual cards issued to date. 40.4% YoY increase in individual customers using virtual cards. 49.5% YoY growth in in-store virtual card purchases. 39% YoY rise in online transactions. Why Customers Prefer FNB’s Virtual Card FNB’s virtual card stands out with dynamic CVV security codes that refresh hourly, reducing fraud risks. Customers can instantly block, cancel, or replace cards via…
Calling all innovators! The Empire Partner Foundation (EPF) and TechFinancials are back with Round Three of our Q&A Competition—a platform for brilliant minds to showcase bold ideas and win amazing prizes! This round’s challenge: “How can AI improve healthcare in South Africa, especially in rural areas?” Share your vision, and you could win R5,000! Why Participate? Win big: Score R5,000 for your groundbreaking ideas. Make an impact: Your solution could transform healthcare access in underserved communities. Gain recognition: Stand out in a competitive innovation space. How to Enter: Apply via the TFS Competition Link. Complete your profile. Submit your answer—you could be the next winner! Hurry! Entries close 27 May 2025. This competition is proudly sponsored by the Empire Partner Foundation, driving innovation…
Advocate Pansy Tlakula, Chairperson of South Africa’s Information Regulator, reflects on the institution’s remarkable journey in the Annual Performance Plan (2025/26), comparing its growth to the cosmic mystery of creation: “When physicists attempt to solve the mystery of the creation of the universe, they arrive at the ultimate question: how do you create something from nothing? While physicists continue to grapple with this question, we at the Information Regulator can speak from experience from our own small, institutional universe.” From humble beginnings in 2016, armed only with the Protection of Personal Information Act (POPIA) and a boardroom, the Regulator has…
As South Africa accelerates its digital transformation, Broadband Infraco (BBI) is positioning itself as a key enabler of the country’s connectivity and socio-economic development. The state-owned enterprise’s Strategic Horizons Corporate Plan (2025/26 – 2029/30) outlines a three-phase approach to optimise its current operations, innovate for customer needs, and transform into a leading digital infrastructure provider. With a mandate to expand electronic communications accessibility, BBI is crucial in bridging South Africa’s digital divide and supporting Fourth Industrial Revolution (4IR) advancements. This article explores how BBI’s strategic roadmap will shape its role in government digital transformation, universal broadband access, and economic growth. Horizon 1: Optimising the Core Business (2024/25 – 2025/26) The first phase focuses…
The South African Post Office (SAPO) is undergoing a major transformation to become a digitally connected, financially stable organisation by 2028. This ambitious vision is outlined in its Corporate Plan 2025–2028, titled “Reengineering SA’s Designated Postal Operator.” Developed under the guidance of Business Rescue Practitioners, the plan sets a roadmap for SAPO’s revival through digital transformation, service diversification, and strategic partnerships. A Vision for the Future Fathima Gany, SAPO’s Group Acting CEO, states: “The South African Post Office stands at a pivotal moment in its long history. As a state-owned entity, SAPO has played a critical role in connecting communities and facilitating commerce across South…
Broadband Infraco (BBI) has faced years of underinvestment, weakening its market position and financial stability, according to its 2025–2030 Corporate Plan. Despite prudent cash management keeping the company operational, significant infrastructure investment is needed to drive revenue growth and ensure long-term sustainability. BBI seeks R380 million to settle debts with Eskom, Transnet and key suppliers, preventing service suspensions that could trigger a crisis. Additionally, R621 million is needed for medium-term network upgrades, while R1.3 billion will support long-term capacity expansion and service improvements. Expanding Market Share & Aligning with National Goals Currently holding 10% of South Africa’s wholesale marke, BBI aims to grow through strategic investments. Its mission aligns…
South African Airways (SAA) announced today that it experienced a significant cyber incident beginning on Saturday, 3 May 2025. The breach temporarily disrupted access to the airline’s website, mobile app, and internal systems, prompting immediate action to minimize operational impact. Upon detection, SAA activated its disaster recovery protocols, successfully containing the breach and ensuring minimal disruption to flight operations. Key customer service channels, including contact centers and sales offices, remained functional. Full system restoration was completed the same day. Investigation & Regulatory Compliance An independent forensic investigation is underway to determine the root cause and scope of the attack, including whether it was an external cybercrime act. As a National Key Point, SAA has:…
A new global study by the IBM Institute for Business Value found that surveyed CEOs are committed to advancing AI solutions across their organization even as they face challenges from accelerating technology adoption. The IBM CEO study, which surveyed 2,000 CEOs worldwide, reveals that executive leaders expect AI investments to more than double in the next two years, with 61% actively adopting AI agents today and preparing for large-scale implementation. Key Findings from the IBM CEO Study AI Investments Are Accelerating, But ROI Remains a Challenge Only 25% of AI initiatives have delivered expected ROI in recent years. Just 16% have scaled enterprise-wide. Yet, 85% of CEOs expect AI efficiency investments to yield…
Volvo Car South Africa is revolutionizing electric vehicle ownership with its new Guaranteed Future Value (GFV) program across its EV lineup, including the EX30 from just R9,999/month. Why This Matters for SA Drivers: Removes depreciation fears with locked-in 48-month trade-in values Includes free wallbox charger (R7,500 value) + R12,000 charging voucher Comes with 10GB monthly in-car data for 36 months Three Flexible End-of-Term Options: 1️⃣ Upgrade to newest Volvo EV 2️⃣ Keep your vehicle by settling balance 3️⃣ Simply return the car “This is our vote of confidence in EVs,” says Markus Cromwell, Volvo SA’s Head of Commercial Operations. “Customers get today’s technology with tomorrow’s flexibility.” Current GFV…