Author: Gugu Lourie
Underground storage solutions could bolster national energy security while accelerating South Africa’s shift to cleaner energy alternatives. In a landmark collaboration bridging mining, energy, and sustainability, SUISO and the Council for Geoscience (CGS) have joined forces to explore South Africa’s subsurface potential. The initiative will expand the CGS’s ongoing assessment of underground carbon storage capacity, enhance sustainable critical mineral exploration, and support the country’s transition to a greener energy future. SUISO, a sustainable blue-ammonia production facility in Kriel, Mpumalanga, is partnering with CGS to determine whether South Africa’s geological formations can safely store carbon emissions. This could reduce industrial pollution while unlocking new opportunities…
CIVH, the Remgro-controlled parent company of fibre network operator Maziv – which owns Vumatel and Dark Fibre Africa (DFA) – reported a loss in earnings for the six months ending December 2024. JSE-listed Remgro disclosed that CIVH’s contribution to its headline earnings amounted to a R141 million loss, compared to a R6 million profit in the prior year’s period. “The decrease in earnings is mainly due to increased borrowing costs due to higher average debt balances and a negative fair value adjustment on an interest rate hedge, totalling R232 million (Remgro’s portion being R132 million),” said Remgro. Despite the loss, CIVH’s revenue for the…
The Financial Sector Conduct Authority (FSCA) has issued a public warning against xrp2024.live, an unregistered platform soliciting investments in crypto with promises of unrealistic returns. The FSCA confirmed that xrp2024.live is not authorised to provide financial services in South Africa. Reports indicate the platform urges users to deposit funds into crypto wallets, raising concerns of a potential scam. Key warnings from the FSCA: No FSCA authorisation – The entity is not licensed to operate. Unrealistic returns – High-profit promises are a major red flag. No verifiable contact – The FSCA could not reach xrp2024.live for comment. Public advised to: ✔ Verify FSP registration via FSCA’s website or toll-free line (0800 110…
Cassava Technologies has announced plans to establish Africa’s first AI factory, a state-of-the-art data centre facility powered by NVIDIA AI computing technology. This initiative will provide African businesses, governments, and researchers with access to advanced AI computing capacity, enabling them to develop smarter AI-driven solutions, optimize operations, and remain competitive in a rapidly evolving landscape. The AI factory will offer the supercomputers and software necessary for training AI models while ensuring data remains within Africa’s borders. The company intends to deploy NVIDIA accelerated computing and AI software using NVIDIA Cloud Partner (NCP) reference architectures at its South African data centres…
Private higher education provider Stadio Holdings has reported strong financial results for the year ended 31 December 2024, highlighting significant revenue growth and robust cash generation. The group, which owns three private higher education institutions – Stadio Higher Education, Milpark Education, and Afda – has demonstrated impressive performance across key metrics. Revenue and student growth Stadio’s revenue increased by 14%, rising from R1.4 billion in 2023 to R1.6 billion in 2024. This growth was driven by an 8% increase in student numbers, with total student enrollment for Semester 2 reaching 50,039 (up from 46,508 in 2023). Notably, Stadio Higher Education saw a 14% increase in new…
Eskom today announced the successful addition of Kusile Power Station’s final unit, Unit 6, to the national grid at 16:45. This marks a crucial step in completing one of South Africa’s largest infrastructure projects and is a key milestone in Eskom’s plan to add 2,500MW of new capacity to the grid by March 2025. “Eskom is at a critical point returning megawatts to the grid as we are currently in a constrained state. This milestone is a testament to the unwavering dedication and resilience of Eskom’s employees and contractors. Their commitment has driven us forward despite numerous challenges. As we…
The Technology Innovation Agency (TIA), an entity of the Department of Science, Technology and Innovation (DSTI), is driving the growth of clean technology entrepreneurship in South Africa through its support of the Global Cleantech Innovation Programme (GCIP-SA). Embracing new economic opportunities in green technologies can drive industrial development, innovation, and economic diversification, and this would lead to a sustainable and economically resilient future. The programme is implemented in partnership with the United Nations Industrial Development Organisation (UNIDO) and funding from the Global Environment Facility (GEF). Since 2014, more than 200 innovators have been supported in various cleantech innovations aimed at reducing…
Scientists from South Africa and China have successfully established the world’s longest intercontinental ultra-secure quantum satellite link, spanning 12,900 km. Using the Chinese quantum microsatellite Jinan-1, launched into low Earth orbit, this milestone marks the first-ever quantum satellite communication link established in the Southern Hemisphere. In this demonstration, quantum keys were generated in real-time through Quantum Key Distribution (QKD), enabling the secure encryption of images transmitted between ground stations in China and South Africa via one-time pad encryption—considered unbreakable. The results from this pioneering experiment from a collaborative research initiative between scientists from Stellenbosch University (South Africa) and the University of Science…
The Financial Sector Conduct Authority (FSCA), South Africa’s market conduct regulator for financial institutions, recently conducted a desktop review to evaluate whether banks are consistently delivering fair customer outcomes in complaints handling. The review, which took place between July 18, 2022, and November 17, 2022, assessed 23 banks for regulatory compliance and adherence to principles outlined in section 8 of the Conduct Standard for Banks. The findings revealed significant gaps in complaints management processes, raising concerns about customer treatment and regulatory compliance. Key findings of the FSCA Review The review highlighted widespread deficiencies in banks’ complaints handling processes. Key areas…
FNB today announced a major milestone for its flagship nav» platform within the FNB Banking App. With a nine-year track record of delivering smart digital tools, FNB’s nav» Money has reached 5 million users, including 1 million new users in the past 12 months. Since its 2016 launch, nav» has transformed how FNB customers manage finances, assets, wellbeing, and environmental impact. The platform offers tools across Money, Car, Home, Earth, Energy, Marketplace, Care, and the newly launched nav» Graduate, catering to various life stages. “Over the past nine years, we’ve focused on innovating solutions that go beyond traditional banking,” says…