Author: Gugu Lourie
FirstRand has appointed COO Mary Vilakazi as its new CEO, marking a historic milestone as she becomes the first woman to lead the financial services group in its 185-year history. Vilakazi will succeed Alan Pullinger, who is set to step down from the role in April next year. Having joined the JSE-listed financial services group in 2018, Vilakazi brings a wealth of experience, previously serving in various capacities at Momentum Metropolitan Holdings, including CFO and deputy CEO. The appointment signifies a significant step towards gender diversity in the leadership of major financial institutions. As one of three FirstRand executive directors,…
Three Information Communication Technology (ICT) companies pledged a total of R809 million towards the Eastern Cape economy, part of the R127 billion in new investment commitments announced on Friday during the third Eastern Cape Investment Conference held at the East London International Convention Centre. Among these commitments is a significant R500 million investment by Vodacom, South Africa’s largest mobile communications company. This substantial funding is allocated for expanding connectivity in rural areas and townships within the province. Additionally, global technology firm JendaMark Automation is injecting R150 million into digital Fourth Industrial Revolution technologies in Nelson Mandela Bay. Furthermore, the Universal…
Pick n Pay CEO Pieter Boone has resigned from the top role, effective 30 September, the retail giant announced on Monday. Sean Summers, a Pick n Pay veteran who ran the group as MD and CEO for 11 years, will replace Pieter with immediate effect. “I want to thank Pieter for his dedication to Pick n Pay over the past two-and-a-half years. He became our CEO while the Covid pandemic was still raging, and has led the business through some extraordinary challenges, including the transition out of the Covid lockdown, the unprecedented civil unrest in 2021, and the current loadshedding…
Capitec Bank announced today that Capitec its revenue from send cash payments and voucher sales surged 56% to reach R1.1 billion in the six months to end-August 2023. “The leading digital bank’s latest results reveal that the number of clients embracing digital transactions has grown 8% to 11.7 million, while the number of app users climbed to 10.2 million, making Capitec the biggest digital bank in South Africa,” , says Gerrie Fourie, Chief Executive Officer at Capitec. “This surge has propelled digital transaction volumes by 21% to 957 million, with the banking app claiming 83% of these transactions. Income from…
Capitec today announced that its prepaid mobile service Capitec Connect has issued 1.3 million SIM cards to subscribers by the end of August 2023. The banking group launched its mobile virtual network operator (MVNO) in September 2022. Capitec Connect piggybacks on Cell C’s mobile network infrastructure. Capitec GlobalOne transaction accounts can become Capitec Connect subscribers by connecting to the mobile virtual network by purchasing a SIM card from Capitec, which has been provisioned and activated on the mobile network. Meanwhile, Capitec also recorded headline earnings growth of 9% to R4.7 billion in its August 2023 Interim financial results. The bank’s…
Scan to Pay, Powered by Ukheshe, has partnered with Xion Global to offer crypto payments on the Scan to Pay app. Scan to Pay, powered by Ukheshe, is the largest QR ecosystem in South Africa and is used by more than 600,000 vendors, 14 banks and fintech companies and 94 payment service providers. Now, this new partnership will seamlessly introduce more crypto payment options to mainstream South Africa through the Scan to Pay app. Tracy-Lee Schoeman, Vice President of Loyalty and Rewards at Ukheshe, says the rise of cryptocurrencies has created a new wave of opportunities for performing financial transactions.…
In the contemporary age of endless data, TechFinancials emerges as your ultimate partner, transforming raw data into actionable insights that supercharge your brand. Unlocking the Power of Data: Propel Your Brand with TechFinancials! Comprising of a stellar ensemble of data analysts, researchers, and innovative creatives, we harness the profound strength of data to uniquely craft your brand and customer engagement strategy. Empower Every Decision with Data-Driven Insights Our mission revolves around leveraging insights to drive decisions that resonate. We’re not just about data collection; we’re about deriving meaningful, actionable insights that matter. By understanding precisely why, how, and where customers…
Root Platform (Root), the provider of a low-code, API-first, end-to-end insurance technology platform, has announced a new investment today. Invenfin, the venture and growth capital arm of Remgro Limited based in South Africa, has increased its investment in the company by $1.5 million. “We’ve built a trusted partnership with Invenfin since they invested in our business two years ago, and I’m delighted that they see further potential in our growth strategy and want to continue to invest in our future as we scale up internationally,” Louw Hopley, Co-Founder at Root, said. “We want to continue to expand in the UK…
The Huawei Watch GT 4 is more than just a smartwatch; it’s a compact computer that effortlessly combines style and functionality. Whether you’re dressing up for a formal event or hitting the gym, this innovative timepiece has you covered. At the launch event in Fourways, Johannesburg, Akhram Mohamed, the VP of Operations for Huawei South Africa’s Consumer Business Group, emphasiSed that the Huawei Watch GT 4 isn’t your typical smartwatch. It seamlessly blends classic elegance with modern technology, offering a unique blend of design and health features. The Huawei Watch GT 4 takes a bold step forward in terms of…
OpenAI is reportedly exploring the option of offering shares for sale, a move that could elevate the company’s worth from $29 billion to a range between $80 billion and $90 billion, as per sources cited by The Wall Street Journal. Notably, this initiative would permit employees to sell their existing shares, rather than the company issuing new ones. Potential sale would value startup at roughly triple where it was set earlier this year. OpenAI is an AI research and deployment company. OpenA is the artificial intelligence company that created ChatGPT, a popular AI generative assistant. The 80 billion and $90…