Author: Gugu Lourie

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…