Author: Gugu Lourie

Remgro, with a 57% ownership in CIVH, revealed that CIVH contributed R206 million to its headline earnings for the year ending June 2023, a significant increase from R47 million the previous year. This boost is attributed to improved performances by CIVH’s core businesses, mainly DFA and Vumatel, driven by network expansion, although offset by higher finance costs. DFA saw a 6.8% revenue increase to R2.6 billion, with annuity income reaching R213 million per month in March 2023, compared to R198 million per month in 2022. Meanwhile, Vumatel experienced a 15.1% revenue surge to R3.4 billion, propelled by fibre infrastructure expansion…

Discovery Bank, a part of Adrian Gore’s Discovery Group, achieved its medium-term goal of adding 1,000 new clients daily in January to June 2023, a 50% increase from the prior year. The bank’s total client base exceeded 700,000 by June 2023, making significant progress toward its 2026 target of one million clients. Discovery Bank saw steady growth in advances, driven by a 56% increase in credit applications and higher card usage. Its share of new credit issued for credit card facilities rose to 15.7% in Q2 2023, up from 10.9% the previous year. Despite a challenging macroeconomic environment, Discovery Bank…

Two months after the initial launch of inDrive.Freight in South Africa, the company is honored to share encouraging indicators reflecting the positive reception and adaptability of the youth in leveraging technology for employment opportunities amidst the country’s existing high unemployment rate. Remarkably, nearly 40% of the drivers who have engaged with the inDrive.Freight platform fall under the youth demographic(individuals aged 18 to 35 years old), demonstrating a significant stride towards engaging this vital sector of the population in economic activities. Further attesting to the high adaptability rate of technology among the youth, data showcases that 57.23% of the deals facilitated…

Time is a peculiar phenomenon. When in haste, it creeps by agonisingly slow, yet when in need of more, it slips through our grasp at double the pace. The hands of the clock maintain their steady rhythm, but our perception of time seldom adheres to the linear path that science dictates. It feels as if the inception of TechFinancials happened just yesterday, yet that “yesterday” was back in 21 September 2013. Time and change are inexorable forces, unstoppable in their relentless march forward. Over the past few months, we have been diligently working behind the scenes, preparing to introduce exciting…

Whether recharging, waiting to pick up your loved one, or cherishing a quiet moment away from the in-laws – your Volvo car is now better equipped to keep you entertained by introducing Prime Video to Google Play for download in all markets where Google apps and services are available. Volvo Cars is among the first carmakers to offer Prime Video in its cars. YouTube is also coming soon to Volvo cars with Google built-in. The service will become available as a pre-installed app starting from September 18th with a gradual rollout via over-the-air update (OTA), market by market. “Adding access…

The Naspers and Prosus boards and Bob van Dijk have mutually agreed that Bob will, effective 18 September 2023, step down from his position as chief executive as well as his position on the boards of both companies. Bob has agreed to assist with the transition after this date and will remain as a consultant to the group until 30 September 2024. Bob has been the chief executive of Naspers since 2014 and of Prosus since its listing in 2019. The company said Bob established the group as a leading global consumer internet company, creating significant value for shareholders. The…

Dublin-based online training platform Kubicle today announced that over 1,000 Capitec employees have completed more than 6,000 courses in data analytics. “We’re thrilled to be part of Capitec’s journey towards becoming a data-driven organization. Our platform aims to empower professionals with the skills they need in today’s digital age,” said Mark Henderson, CEO of Kubicle. “This milestone is a testament to the effectiveness of self-led online training in meeting the demands of a fast-paced work environment.” During the year, Capitec partnered with online learning platforms, including Udemy Business, Kubicle for data skills, as well as Cloud Masters. These platforms offer…

In a significant development, the Department of Higher Education and Training in South Africa recently inked a Memorandum of Understanding (MoU) with Russia’s Biotechnological University, commonly known as BioTech University. This landmark agreement paves the way for the establishment of the Centre of Open Education. The inauguration of the Centre for Open Education took place at the premises of the Empire Partner Foundation (EPF) in Illovo, Sandton. This collaborative initiative marks the beginning of a pilot programme conducted by EPF in partnership with BioTech University, with the shared aim of advancing education in science and technology. The official opening of…

Thandile Fikeni, CEO of WIB Group, has collaborated with global creative director Xander Pratt to establish the Nomadhood in Africa platform. The two announced their partnership on the sidelines of Russia’s 8th Eastern Economic Forum, which is now underway, through participation in the Friends for Leadership network of next-generation leaders and entrepreneurs created by Dr. Roman Chukov. The Platform is the first for digital nomads to digitally experience Africa through first-hand community experiences, experiencing not only tourist places but also secret destinations for the next generation traveller. Deemed as Ambassador of Tourism, Culture and Peace, Pratt is a multidimensional Zimbabwean…

Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies, a pan-African technology group, today announced the launch of two new fully redundant terrestrial routes – Kenya to Ethiopia and Zambia to Malawi. This significant achievement will allow for greater efficiency and reliable regional connectivity, both key to the economic development of these countries. Spanning over 1000 km, the fibre link between Kenya and Ethiopia offers businesses in Ethiopia access to data centres and cloud in Nairobi, Kenya, ensuring that data doesn’t leave the continent. In addition, this link is further supported by the cross-border 711 km link between Zambia and…