Author: Gugu Lourie
Eskom is testing the use of recycled legacy coal ash for road construction, starting with a new access road at its Kusile Power Station in Mpumalanga. This is the first time in South Africa that coal ash is being used for this purpose. The 759-meter heavy-duty road is designed to handle up to 1,600 trucks daily, each weighing around 34 tonnes. Through its Research, Testing, and Development (RT&D) initiative, Eskom is replacing traditional cement with recycled coal ash, using about 2,904 tonnes of ash per kilometer of road. This reduces carbon emissions since less cement is used, with every tonne…
FirstRand, Africa’s largest financial institution by market capitalisation, has announced that it will acquire the clients, banking assets, liabilities, and employees of HSBC Bank plc’s (HSBC) South African branch. The transfer will be made to FirstRand’s wholly owned subsidiary, FirstRand Bank Limited (FRB). HSBC South Africa primarily serves subsidiaries of multinational companies operating in the country, as well as some major domestic corporates. The transition will be led by FirstRand’s corporate and investment banking division, Rand Merchant Bank (RMB), a prominent player in both South Africa and the broader African market. This move will ensure that HSBC’s clients continue to…
Standard Bank branch transactions dropped by 13% in the first half of 2024, reaching around 2.5 million transactions as more clients moved to digital channels. During the same period, online transactions surged by 30% to 1.5 billion, with clients performing an average of 10,400 digital transactions per month, compared to just 0.017 transactions in branches. ATM transactions also saw an 8% increase, reaching 104 million. “Our customers’ preferences are changing rapidly, and we are committed to meeting their needs in the most efficient and effective ways possible,” said Kabelo Makeke, Head of Personal & Private Banking at Standard Bank South…
In April, Old Mutual received approval from the Prudential Authority to launch its OM Bank in South Africa. Initially planned for release by the end of this year, the launch has now been postponed to the first quarter of 2025. “Our South African bank initiative, OM Bank, remains a key priority of our strategy to build an integrated financial services business,” said Iain Williamson, the Group Chief Executive Officer. Williamson noted that the bank’s technical and operational progress is ahead of schedule, with successful industry testing and integration into the National Payments System already completed. “Pending the remaining Section 17…
MultiChoice has announced a significant funding boost for its streaming platform, Showmax, as part of its strategic partnership with Comcast Corporation’s subsidiary NBCUniversal Media, LLC (NBCU), and Sky. This collaboration aims to position Showmax as the leading streaming service in Africa. NBCU, a subsidiary of Comcast, has acquired a 30% equity stake in Showmax Africa Holdings Limited (SMAH), the holding company for Showmax operations. The deal includes ongoing support through the licensing of Comcast’s Peacock platform and content from NBCU, Universal Pictures, Peacock, and Sky. MultiChoice, through its wholly owned subsidiary, MultiChoice Group Holdings B.V. (MGHBV), and NBCU are jointly…
Technology and style now blend effortlessly, becoming key aspects of personal identity. With the launch of HUAWEI’s latest wearables in South Africa, the brand pushes the boundaries of what a smartwatch can offer, combining advanced features with sleek design. The new lineup includes the HUAWEI WATCH GT 5 Series, WATCH D2, and WATCH Ultimate Green Edition. These watches boast customisable faces and premium materials like titanium, sapphire glass, and ceramic, offering durability and fashion-forward appeal. HUAWEI WATCH GT 5 Series The GT 5 Series offers two models: the GT 5 and GT 5 Pro, available in various sizes and finishes.…
The Reserve Bank’s decision to reduce interest rates by a modest quarter of a percentage point last week marks the turning of the interest rate cycle. It will be a positive indicator to businesses and consumers that the tight monetary environment of the last 15 months is starting to ease, hopefully supporting investment. But it is a small step, unlike the leap made by the US Federal Reserve last week in cutting rates there by a full half a percentage point. The risk, of course, is inflation, and the Reserve Bank is again proving its conservative approach. Inflation is bad…
Plentify, an innovative home energy management company, has announced a strategic partnership with Herholdts, one of South Africa’s largest distributors of solar and electrical solutions, to launch SolarBot, an intelligent controller for home solar and battery systems. This collaboration will see Herholdts introduce Plentify’s latest innovation, SolarBot, to homes across the country. “Herholdts is a pioneer in the solar and electrical distribution sector in South Africa, and we are thrilled to partner with an industry icon,” says Kailas Nair, Co-founder and Chief Growth Officer at Plentify. The timing of this launch couldn’t be better. SolarBot is designed to significantly improve…
On Digital Media (ODM), the licensing company behind the pay television platform StarSat, has taken note of the recent statement issued by the Independent Communications Authority of South Africa (ICASA) on 20 September 2024, which expressed surprise and concern regarding StarSat’s potential exit from the South African subscription market.
On Digital Media (ODM), the operator behind StarSat and the South African branch of StarTimes Media, will exit the subscription television market as its broadcasting license has not been renewed. The Independent Communications Authority of South Africa (ICASA) announced that ODM’s 15-year Individual Broadcasting Service Licence, which expired on 8 July 2023, was not renewed after ODM failed to submit a renewal application on time. According to the Electronic Communications Act, applications must be submitted no earlier than 12 months and no later than six months before the license expires. Despite multiple reminders, ODM only submitted its application on 10…
After a strong July, the South African automotive sector experienced a period of consolidation in August 2024, with moderate improvements in both new and used car sales. While new car sales increased by 3.1% compared to August 2023, used cars showed slight month-on-month growth despite a year-on-year decline. According to AutoTrader, 31,877 used cars were sold in August 2024, down from 34,725 in August 2023, marking an -8.2% year-on-year drop. However, sales improved slightly compared to July 2024, when 31,707 used cars were sold, reflecting a 1% month-on-month increase. This highlights the resilience of the used car market, even amid…
With e-commerce users in South Africa expected to soar to 21.52 million by 2029, last-mile delivery companies are under pressure to enhance their operational efficiency. Enter Industry 4.0, the latest industrial revolution characterised by the integration of connected digital technologies. From science fiction to reality Industry 4.0 is more than a buzzword; it represents the fourth industrial revolution where advanced technologies like automation, the Internet of Things (IoT), artificial intelligence (AI), big data, machine learning, cloud computing and robotics are seamlessly integrated into logistics to create smarter, more efficient, and interconnected systems. This technology has sparked a transformation in last-mile…
The Southern Africa Telecommunication Networks and Applications Conference (SATNAC) returns to the African stage, with a deep dive into the transformative power of AI. Hosted by Telkom, SATNAC 2024 will take place from 6 – 9 October in the heart of the Kruger National Park at the Skukuza Rest Camp. This year’s theme, “The AI-Driven Hyperconnected Future: Co-creating shared value,” promises insightful discussions and groundbreaking research presentations. South Africa is rapidly emerging as a global leader in AI adoption, defying outdated technological stereotypes. Recent data reveals that over 60% of South African workers regularly use generative AI tools, surpassing rates…
Vodacom South Africa, a subsidiary of Vodacom Group, has introduced a cloud-based phone aimed at making smartphone access more affordable and accelerating the shift from legacy networks to modern 4G. A 2022 report by the Broadband Commission for Sustainable Development, supported by Vodacom’s parent company, Vodafone Group, emphasized that lowering the cost of devices is essential for increasing smartphone access. For example, the Alliance for Affordable Internet estimates that a smartphone priced at R1,094.24 (US$62/€56) could account for nearly 63% of the average monthly income across Africa. The report recommended exploring affordable thin-client phones, like the new cloud-based device from…
South Africa is infamous for the worst savings rates in the world, with a multitude of surveys telling us it is difficult to save when you can’t make ends meet and are struggling to pay off debt. But is this the full picture – and more importantly, is there anything consumers could be doing differently, given a slightly improved outlook? “After years of unrelenting financial pressure, our customers have had to become financially disciplined and resourceful. This will make it easier for them to get back on their feet when things start to improve, helped by the drop in fuel…
Happy Pay, South Africa’s only independent Buy Now, Pay Later (BNPL) provider with 150,000 active users, has secured $1.8 million or R32 million in pre-seed funding. The round was led by prominent South African venture capital firms E4E Africa and 4Di Capital, along with participation from DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment, U.S.-based Gaingels, and local angel investors. Fin Africa (formerly Finclusion Group) is backing the company’s debt facility. Happy Pay’s BNPL platform, built to comply with future regulatory standards, enables consumers to split payments over two paychecks with no interest or deposit. Using AI-driven credit scoring,…
After a successful 2023 pilot in Alexandra, Vuma, a Maziv company, has officially launched Vuma Key – South Africa’s most affordable uncapped fibre service at just R99 per month. Vuma Key is a prepaid service with no penalties for missed recharges, tailored for households earning under R5,000 per month. For R99 a month (equivalent to R3.30 per day or less than 83c per device for a 4-device household), Vuma Key is 34% cheaper than its closest competitors. While some advertise a R99 price point, those are for 7-day recharges; Vuma Key offers uninterrupted service for 30 days. Initially piloted in…
JSE-listed manufacturer Metair, known for producing suspension springs, brake pads, shock absorbers, radiators, and air conditioners, announced the sale of its Turkish subsidiary, Metair Türkiye, to Quexco for R1.95 billion. Metair, which also manufactures batteries for mobility applications and sectors such as telecoms, utilities, mining, and retail, has operated Metair Türkiye as part of its Energy Storage vertical. This subsidiary serves as the holding company for Metair’s Turkish operations, primarily consisting of the Mutlu Group. Since acquiring the Mutlu Group in 2013, the Turkish division has contributed to Metair’s geographic and sector diversification. However, after a thorough review and restructuring…
McDonald’s South Africa recognises that a change as little as reading a book can change a lot about a child’s future. Starting in the month of September, which marks Literacy Month, McDonald’s South Africa will be on a quest to donate over a million books to disadvantaged schools and Early Childhood Development Centres across the country. According to the Progress in International Reading Literacy Study, which evaluated the reading ability of 400,000 students globally in 2021, South Africa ranked last out of 57 countries assessed, with eight out of 10 South African school children struggling to read by the age…
In celebration of Deaf Awareness Month, the Neema Foundation for the Deaf has launched a WhatsApp Chatbot (number 060 019 1981), a groundbreaking platform designed to provide the Deaf community with real-time access to essential information. This innovative tool was developed with the support of African Bank and the Gender-Based Violence and Femicide (GBVF) Response Fund1. “As a Foundation, we are committed to ensuring that the Deaf community is fully supported in every aspect of their lives,” said Itumeleng Motaung, Chairperson of the Neema Foundation for the Deaf. “This platform will provide crucial assistance to Deaf victims of GBV, offering…
Airbus has officially opened a new Customer Support Centre in Johannesburg, South Africa, further solidifying its presence in the region and accelerating the growth of Africa’s aviation ecosystem. This strategic hub will offer dedicated, hands-on support to regional airlines, improving operational efficiency and access to key resources, including maintenance and training. By nurturing local capabilities, the new centre will help airlines become more self-sufficient while uplifting the entire aviation industry and creating opportunities for the local workforce. Airbus’ expansion signals its commitment to empowering African aviation and fostering long-term industry growth across the continent. “With the rapid expansion of the…
TymeBank, one of the fastest-growing digital banks globally, has reported an 11.8% increase in customers, bringing its total to 9.5 million as of 30 June. The bank, owned by African Rainbow Capital Investments, boasts the largest cash-in and cash-out network in South Africa, thanks to partnerships with major retailers like Pick n Pay, Boxer, and The Foschini Group (TFG). Additionally, TymeBank revealed a 59% surge in deposits, reaching R6.5 billion, while merchant credit advances climbed to R1.8 billion. The bank’s diverse range of banking products offers customers excellent value, creating multiple avenues for growth. With technology driving operational efficiency, TymeBank’s…
Microsoft has announced another wave of retrenchments, with 650 positions being cut from its gaming division, according to an internal memo from Xbox head Phil Spencer, obtained by IGN. The retrenchments primarily impact corporate and support roles within the division, with Spencer emphasizing that the decision was made to position the company for “long-term success.” In the memo, Spencer reassured staff that no games, devices, or experiences are being scrapped, and no studios are slated for closure as a result of these retrenchments. This latest round of cuts brings the total number of job losses in Microsoft’s gaming sector to…
Talk360, the international calling app, has raised $1.4 million or R25 million in a Pre-Series A funding round, led by long-term investor Havaic. The funds will support the company’s goal of connecting seven million people by 2025 and advancing toward profitability. “We’re incredibly proud of Talk360’s growth. Over the past two years, we’ve gone from connecting 2.3 million users to 4 million in 2023. This funding will help us continue our mission of connecting African migrant communities with their families back home,” says Hans Osnabrugge, co-founder and CEO of Talk360. Talk360, a South African and Dutch calling app, allows affordable…
FNB’s virtual cards are gaining popularity among customers. Virtual debit cards work like regular debit cards but are entirely digital and offer greater security and privacy. They allow for convenient payments anytime, anywhere, without the need for a physical card. FirstRand, which owns FNB, released its financial results for the year ending 30 June 2024. FNB continues to invest in its integrated financial services platform, enabling customers to handle most of their banking needs digitally. The platform offers both assisted (e.g. call centres and branches) and unassisted (mobile and online banking, FNB app, ATMs) interfaces. Key highlights for the year…