Author: Gugu Lourie

Cape Town, AfricaTech Festival — Eswatini Posts and Telecoms Corporation (EPTC), led by Group Managing Director Themba Khumalo, has issued a call for international fibre and technology partners to help drive the nation’s ambitious connectivity agenda. As the Kingdom of Eswatini advances its digital capabilities, EPTC is focused on expanding its broadband infrastructure and enhancing service quality for both urban and rural communities. EPTC, originally a copper-based carrier, has leveraged national broadband goals, optimised resources, adopted cutting-edge technologies, and embraced generational advancements to transform their network. “We are open for business,” Khumalo stated, emphasising EPTC’s readiness to collaborate with global technology partners.…

Volvo Car South Africa has solidified its position as the top choice in the local electric vehicle market, recording 467 sales from January to September 2024. With its streamlined lineup of three battery-electric models, Volvo outpaces competitors in the luxury segment, maintaining month-over-month sales leadership despite offering fewer models. The flagship EX30 has seen remarkable demand, moving 348 units, while the XC40 Recharge and C40 Recharge followed with 96 and 23 units, respectively. “We have reached new sales heights in the first nine months of the year, driven by strong demand for the EX30,” said Markus Cromwell, Commercial Director at…

Cape Town, AfricaTech Festival — South Africa’s Minister of Communication and Digital, Solly Malatsi, delivered an impactful message on Africa’s digital future, emphasising South Africa’s central role as a regional hub for investment and innovation. In his speech titled “Advancing Africa’s Digital Future: South Africa’s Commitment to Connectivity, Innovation, and Inclusive Growth,” Malatsi laid out the country’s vision to harness digital transformation not only to strengthen South Africa but to benefit the entire continent. Malatsi highlighted South Africa’s unique position to attract digital investment, stating, “To advance this vision, we are positioning South Africa as a prime destination for digital…

A significant portion of African smartphone users still rely heavily on 3G networks, limiting their access to the fast, reliable connectivity essential for modern, data-rich applications. In an analysis by Opensignal, it was found that in 11 of the 27 African markets studied, users spend more than 20% of their time on 3G, an aging technology that struggles to support seamless experiences for streaming, social media, and digital services. In some countries, such as Mali and Zimbabwe, users are even connected to 2G for more than 6% of their time, further restricting their ability to use data-intensive services effectively. According…

South Africa is setting the benchmark for mobile network quality across Africa, delivering a level of consistency that keeps applications running smoothly and without interruption. With robust infrastructure and reliable connectivity, South African mobile networks are enabling users to enjoy seamless performance, solidifying the country’s reputation as a leader in digital connectivity on the continent. A new analysis by Opensignal, assessing mobile network experiences across 27 African markets, highlights South Africa as a leader in Consistent Quality, achieving a score of 58.6%, just slightly ahead of Tunisia. By contrast, more than half of the African countries analyzed scored below 30%…

Digital transformation could significantly shape South Africa’s future, with estimates suggesting it may add nearly 20% to national GDP by 2028, create 300,000 jobs, and improve access to vital services for millions. The latest GSMA South Africa Digital Economy report shows how mobile and digital services are driving economic growth and social progress, creating opportunities and promoting inclusivity nationwide. In addition, the GSMA’s new Rural Renewal: Telcos and Sustainable Energy in Africa report advocates renewable energy for boosting connectivity in rural areas. Together, these reports provide a strategic plan for inclusive digital progress, emphasising the critical role of mobile technology…

The Aston Martin Aramco F1 Team is bringing fans closer than ever to the thrill of F1 racing with the launch of cutting-edge motion simulators, created in collaboration with Memento Exclusives, a leading memorabilia specialist in Motorsport Valley. These high-tech simulators replicate the feeling of racing Aston Martin’s iconic cars around legendary circuits, utilizing advanced motion technology for an ultra-immersive experience. Designed with input from the race team at Silverstone, each simulator features haptic actuators, front pivot configuration, and haptic rumble feedback, allowing gamers and racing enthusiasts to feel every twist, turn, and rumble just like a real F1 car.…

Today, Minister of Communications and Digital Technologies, Solly Malatsi, addressed the critical need for a dual approach that intertwines renewable energy with digital infrastructure to secure a prosperous digital future for South Africa and the African continent. Speaking at  One & Only Resort in Cape Town, the Ministerial Forum 2024, themed “Building a Prosperous, Inclusive, and Sustainable Digital & Intelligent Africa,” Malatsi emphasised that Africa’s digital progress hinges on sustainability, inclusivity, and the accessibility of resources. “We stand at a crossroads where the choices we make will either narrow or deepen divides,” Malatsi remarked. “Digital transformation must serve as a…

Vodacom Group announced on Monday that on 7 October 2024, Egypt’s Ministry of Communications and Information Technology (MCIT), represented by the National Telecommunications Regulatory Authority (NTRA), awarded Vodafone Egypt a 5G licence at a cost of $150 million, or approximately R2.6 billion. Additionally, Vodafone Egypt extended its existing licences for five more years, now valid until 2039, for an additional $17 million or R264 million. The total amount of $167 million, or about R2.9 billion, is due for payment by 31 January 2025. This development follows Egypt’s recent economic challenges; as of May 2024, the country has been placed on…

JSE-listed retailer Woolworths announced on Monday that online sales rose 36.9%, contributing 6.2% of Food sales, driven largely by its on-demand service, Woolies Dash. For the 18 weeks ending 3 November 2024, Woolies Dash reported an impressive 54.4% sales growth. Woolworths highlighted that its Food segment continues to deliver market-leading turnover and concession sales growth, with a 12.1% increase and a comparable-store growth of 7.3%, reinforcing customer trust in the Woolies brand. “This was driven by positive underlying volume growth on improved availability, ongoing innovation, and our enhanced overall value proposition,” said Woolworths. “Excluding Absolute Pets, which was acquired in…

Vodacom Group reported on Monday that its headline earnings per share (HEPS) dropped by 19.4%, reaching 353 cents for the six months ending September 2024. HEPS is a key measure of profitability in South Africa. The decline in HEPS was largely attributed to the depreciation of the Ethiopian currency, which impacted earnings by 53 cents per share, as well as one-off costs in the company’s international operations. Despite the drop in profits, Vodacom maintained its strong dividend policy, declaring an interim dividend of 285 cents per share, which represents an 86% payout ratio. “The group’s dividend policy remains unchanged and…

On International Day of Radiology, Life Healthcare is spotlighting the critical role of PET-CT scans in cancer diagnosis and treatment, urging for their wider adoption across South Africa. PET-CT technology, which combines Positron Emission Tomography (PET) and Computed Tomography (CT), provides a powerful tool in the fight against cancer, offering precise imaging that can enhance treatment outcomes. Life Healthcare is advocating for the integration of PET-CT scans into standard clinical practice across South Africa, highlighting that broader access to this technology could greatly enhance patient outcomes. “This cutting-edge technology is revolutionising the way we detect and manage cancer, offering significant…

During Breast Cancer and Prostate Cancer Awareness Months, we’re reminded how important early detection and regular screenings are. But for healthcare providers, keeping patients on track with these critical check-ups can be challenging. EngageMX, powered by Altron HealthTech, is helping to solve this problem by connecting doctors and patients more effectively. EngageMX is a digital health tool developed in South Africa by Dr. Benji Ozynski, with input from cancer experts Professor Carol-Anne Benn and Professor Jeffrey Wing. Since launching, the platform has made a real difference, helping doctors increase screenings. Since its launch two years ago, it has proven a…

Bulelani Balabala is a name synonymous with empowerment and transformation within South Africa’s township economy. As CEO of the Township Entrepreneurs Agency and founder of the Township Entrepreneurs Alliance (TEA), he has dedicated his career to promoting growth in underserved communities, impacting over 80,000 small businesses across townships and rural areas. In conversation with TechFinancials, Balabala shares his vision for the township economy, focusing on innovation, mentorship, and community-driven change. The role of community-based mentorship Balabala champions the idea that effective mentorship must begin at the grassroots level. For him, mentorship extends beyond high-profile figures and includes tapping into local…

In South Africa’s township economy, few individuals have driven as much change and empowerment as Bulelani Balabala. As the Group CEO of IAF Brands and the visionary founder of the Township Entrepreneurs Alliance (TEA), Bulelani has devoted his career to reshaping perceptions, creating opportunities, and promoting resilience among township entrepreneurs. From his early struggles in Thembisa to becoming a prominent leader advocating for township businesses, Bulelani’s journey is a testament to the transformative power of community-centred entrepreneurship. The making of a visionary: lessons from family and community Bulelani’s entrepreneurial story is deeply rooted in the values he absorbed from his…

As the festive season approaches, many South Africans are short on cash, and some may not be aware that they are owed millions in unpaid dividends from broad-based black economic empowerment (BBBEE) schemes like Phuthuma Nathi and YeboYethu. For those who believe they are entitled to these dividends, here’s a guide on how to make a claim. Phuthuma Nathi Phuthuma Nathi, MultiChoice’s BBBEE share scheme, is actively seeking around 18,000 shareholders who have not claimed their dividends, amounting to over R240 million. Since 2020, Phuthuma Nathi has run a nationwide media campaign to locate shareholders who are owed dividends from…

JSE- and A2X-listed retailer Pepkor anticipates robust revenue growth for its FinTech division in its financial results for the year ending September 2024. Operating through its brands FLASH and Capfin, Pepkor has successfully expanded its presence in the financial services sector. In a recent trading update, Pepkor revealed that revenue in its FinTech segment surged by 26.8% to R12.7 billion for the year to September. The company attributes this strong performance to its ability to rapidly attract new customers through its extensive retail network, enabling growth in both financial services and mobile connectivity. Pepkor also highlighted its FLASH business, which…

Altron, a JSE-listed technology group, has reported a 10% increase in revenue for its Platforms Business, reaching R1.9 billion for the six months ending on 31 August 2024. The Platforms Business’s EBITDA (earnings before interest, tax, depreciation, and amortization) grew by 37% to R776 million, while operating profit rose 47% to R415 million. Altron’s Platforms Business comprises Netstar, Altron FinTech, and Altron HealthTech. Valued at R7.6 billion on the JSE, Altron invested R359 million in capital expenditures during this period, dedicating R330 million to growth-focused initiatives. This investment includes R211 million allocated to Netstar’s capital rental devices and R65 million…

Phuthuma Nathi, MultiChoice’s broad-based black economic empowerment (BBBEE) share scheme, is urging 18,000 shareholders to come forward and claim their uncollected dividends. With over R240 million in unclaimed dividends, Phuthuma Nathi is calling on eligible shareholders to secure their earnings and maximize the benefits of this empowerment initiative. Since 2020, Phuthuma Nathi has been running a nationwide media campaign to locate shareholders who are owed dividends from as far back as 2006. Despite significant progress, a large portion of these funds remains unclaimed. “We are determined to find these shareholders and ensure they receive what is rightfully theirs. We’ve been…

OM Bank will target customers earning between R5,000 and R80,000 per month, says CEO Ian Williamson, who described launching the bank as a “no-brainer” given Old Mutual’s extensive banking activities. “Our unsecured lending book is sitting at R16 billion. We have about 400,000 active transactional account users in our transactional banking solution, which we do under Bidvest,” Old Mutual CEO, Ian Williamson told Business Times. Old Mutual also offers a home loan product with SA Home Loans. “We have a lot of the components of banking… We have not brought those things together in one cohesive entity,” he added. The…

In a bid to grow its presence in South African townships, Takealot is recruiting 1,000 last-mile delivery drivers in Mpumalanga, with plans to expand nationwide, reports the Sunday Times Business Times. The initiative, launched in collaboration with the Mpumalanga provincial government, offers residents new opportunities in the ecommerce sector. “This is the second province where the project has been launched, [but] it will eventually reach the rest of the country,” says Tshepo Maramule, Takealot’s head of external affairs and public policy. “These drivers will not only work for Mr D, they will also deliver parcels to consumers from Takealot,” Maramule…

Payfast, a company owned by fintech operator Network International, is set to transform SA’s digital payment landscape by offering free Point of Sale (POS) devices to local merchants. Traditionally, small businesses owners or merchants had to purchase POS systems upfront or pay monthly rentals, plus transaction fees, to accept card and digital payments. Additionally, the POS device expands merchants’ revenue streams by enabling them to purchase airtime, data, lottery, and betting vouchers directly. Payfast is South Africa’s leading online and ecommerce payment service provider that enables digital payment solution for merchants, individuals, NPOs and businesses of all sizes . Its…

It seems like FNB and Pick n Pay might just be South Africa’s ultimate love story in business! Have these two beloved brands found their “golden hour” together? Judging by their latest partnership, it sure looks that way! FNB and Pick n Pay are teaming up to deliver extra rewards for their loyal customers, making it easier to save on essentials, groceries, and clothing. It’s a match made in retail-rewards heaven. Today, during a  Microsoft Teams call with the media, the companies even set the tone with two powerful tracks: JVKE and Henry’s Golden Hour and the iconic Jerusalema by…

South Africa’s telecommunications landscape was rocked on Tuesday as the Competition Tribunal blocked Vodacom’s proposed acquisition of a co-controlling stake in Maziv, the parent company of Vumatel. This decision delivers a major setback to Maziv and puts the brakes on anticipated industry consolidation. The Tribunal’s move could also derail potential mergers, like the anticipated deal between MTN South Africa and Telkom’s Openserve, signaling a cautious stance on market concentration in the sector. The Competition Tribunal has blocked Vodacom’s planned investment of up to R14 billion into Maziv, the holding company for Vumatel and Dark Fibre Africa. This deal was intended…

Finfra, Indonesia’s lending infrastructure provider, has announced a landmark partnership with Tyme Group, the digital banking group behind TymeBank in South Africa and GoTyme Bank in the Philippines. This partnership, a first in Indonesia, supports Tyme Group’s entry into the Indonesian market as part of its broader Southeast Asia growth plan, following successful expansions into the Philippines and Vietnam. The news comes after Finfra’s recent $2.5 million funding round, led by Cento Ventures, with investments from Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis (founder of Avafin), and existing supporters. Indonesia, Southeast Asia’s largest economy, is experiencing rapid digitalization within…