Author: Gugu Lourie

Prepare to be dazzled as Sandton welcomes its newest and most exciting dining destination: Vaagh Sandton. Launching on the 18th of October 2024, Vaagh is more than just a restaurant; it’s a fusion of culinary mastery and world-class live entertainment that promises to redefine your night out. Located in the chic Parkmore district, Vaagh offers an extraordinary experience where every evening feels like a grand celebration. The restaurant’s meticulously curated menu by renowned Chef Nas is a symphony of flavours, designed to delight even the most discerning palates. From the moment you arrive, you’ll be immersed in an atmosphere where…

The Empire Partner Foundation (EPF), under the leadership of its founder, Nathan Mariemuthu, stands as a beacon of hope for young South Africans, empowering them to unlock their potential and pursue greatness. Speaking at EPF Tech Awards held in Montecassino this weekend, Mariemuthu emphasised the vital role EPF plays as a partner foundation in nurturing young innovators and giving them the confidence to become leaders in their fields. “I have a birthday every day,” Mariemuthu remarked in his speech. “I don’t look forward to one specific day because every single day of my life, I get to meet incredible young…

The Empire Partner Foundation (EPF) continues to make significant strides in creating an environment where innovation thrives, and visionaries are empowered to shape Africa’s future. With a powerful presence at the 2024 EPF Tech Awards, Joanna Govender, CEO of EPF Tech Fund and EPF, emphasised the organisation’s commitment to supporting young African innovators and expanding its footprint across southern Africa. In her opening remarks, Govender drew inspiration from Nelson Mandela’s focus on youth empowerment and education, emphasising that “by investing in our youth, we invest in the future of Africa.” This vision aligns with EPF’s broader mission to create opportunities…

Justin Hughes, HR Executive for HR Operations at Openserve, shares his thoughts on why SATNAC is important. In the latest episode of TFS Bag of Words, Justin Hughes talks about how Openserve’s involvement in SATNAC helps improve Africa’s telecommunications infrastructure. SATNAC 2024, hosted by Telkom, will be held from 6–9 October at the Skukuza Rest Camp in the Kruger National Park. This year’s theme is “The AI-Driven Hyperconnected Future: Co-creating Shared Value,” focusing on how AI is changing the industry. In this episode, Hughes also discusses Openserve’s commitment to supporting research and development in the ICT sector through SATNAC. You…

For over 27 years, Telkom’s Centre of Excellence (CoE) programme has been a beacon of progress in South Africa’s ICT industry, playing a critical role in developing the nation’s talent pool and addressing crucial technological gaps. Established in 1997, the CoE initiative is designed to empower students by fostering research, innovation, and skills development, particularly in the fields of Computer Science and Engineering (CS&E). By enabling access to advanced education and research opportunities, Telkom’s CoE programme has significantly contributed to the creation of a future-fit, skilled workforce that is driving South Africa’s digital transformation. A visionary programme rooted in collaboration…

Tune in to the latest episode of TFS Bag of Words, featuring Uri Zisser, Regional VP Customer Business Executive at Amdocs, as he explores how Amdocs supports talent development through the Southern Africa Telecommunication Networks and Applications Conference (SATNAC). Returning to the African tech scene, SATNAC 2024, hosted by Telkom, will take place from 6–9 October at the Skukuza Rest Camp in the heart of the Kruger National Park. This year’s theme, “The AI-Driven Hyperconnected Future: Co-creating Shared Value,” will bring insightful discussions and innovative research on the transformative role of AI. In this episode, Zisser explains how Amdocs leverages…

The long-running legal battle between Vodacom and Nkosana Makate, the inventor of the “Please Call Me” (PCM) service, will reach the Constitutional Court on 21 November 2024. In a notice of set down, the top court said: “Please take notice that the above matter has been set down for hearing on Thursday, 21 November 2024 at 10h00.” Vodacom is seeking to appeal a previous ruling that ordered the company to pay Makate “fair compensation” for his idea, which was developed in 2001 while he was employed at the company. Despite the service generating significant revenue, Makate has been fighting for…

StarSat, operated by OnDigital Media (ODM), confirms that earlier today, the Independent Communications Authority of South Africa (ICASA), accompanied by the South African Police Service (SAPS), entered its Midrand offices and disconnected services. During this process, not only were ODM’s services impacted but also those of StarTimes Media’s pan-African broadcast. As the service provider to ODM and a subsidiary of the larger StarTimes Group, StarTimes Media holds a valid individual electronics communication network service (ECNS) licence for transmissions across Africa. “While we acknowledge ICASA’s mandate to shut down ODM’s South African services, we are appalled by the manner in which…

Numeral has announced the opening of Numeral Biotechnologies in South Africa, which is fully owned by the company. The company continues to focus on biotechnology and is actively looking for acquisitions in this field. This announcement is made in line with the Stock Exchange of Mauritius (SEM ) Listing Rules and the Securities Act of Mauritius, as well as the JSE Listings Requirements. Numeral is listed on the SEM and also has a secondary listing on the Alternative Exchange of the JSE. Numeric Biotech is a biopharmaceutical company fully dedicated to cure rare diseases in the field of age-relating diseases.…

RMB served as the sole mandated lead arranger for the acquisition of Octotel, the leading Open Access fibre network operator in Cape Town and the Western Cape. This significant transaction reflects RMB’s dedication to supporting investment in South Africa’s next-generation telecommunications infrastructure. Octotel has been acquired by a consortium comprising African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers and a division of Old Mutual Alternative Investments, STOA, a prominent impact fund focused on infrastructure and energy in developing markets, and Thebe Investment Corporation, a leading South African black-owned and managed investment firm. In March,…

TymeBank, Africa’s first digital bank to achieve profitability, has reached a significant milestone by surpassing 10 million customers, less than six years after its 2019 launch. Karl Westvig, who officially took over as CEO on 1 October 2024, expressed gratitude to the bank’s customers, stating: “We’d like to thank our 10 million customers for choosing us. This achievement is a testament to our team’s dedication to providing equitable banking that meets the evolving financial needs of South Africans and empowers them to achieve financial freedom.” He further highlighted: “Among our most significant achievements has been getting the business to break…

French broadcaster Canal+ and MultiChoice made a joint merger control filing with the South African Competition Commission. The French media giant has offered R125 in cash for every MultiChoice share it does not already own and has invested nearly €1.2bn for a 45.2% stake in the company. The filing is part of the process for the offer, signaling the next steps in their merger. As per the Competition Act, the transaction is categorised as a “large merger,” which requires approval from the Competition Tribunal. The Competition Commission will now review the filing and submit its recommendations to the Tribunal. Both…

Standard Bank Group, Africa’s largest bank by assets, and Meridiam, an independent investment Benefit Corporation and asset manager, hosted a joint event to explore investment opportunities in alternative energy infrastructure across the continent. Meridiam has been building its investment presence in Africa since 2015 and has partnered with Standard Bank for over four years, focusing on alternative energy infrastructure projects. Last year, Meridiam acquired BTE Renewables’ assets in Kenya, a company that develops and operates 250 MW of onshore wind and solar projects. “Given our unrivalled footprint across the continent, we are regularly looking to work with partners that share…

The board of the South African Institute of Professional Accountants (SAIPA) has dismissed its Chief Executive (CE), Shahied Daniels, with immediate effect following a disciplinary process. The decision was based on the outcomes of an independent disciplinary hearing and legal advice. The board ensured that the process was conducted fairly and without prejudice. Background of the Disciplinary Process Since April, both Daniels and Chief Operations Executive (COE), Dr. Gavin Isaacs, have been under disciplinary investigation due to findings in a forensic report. The report alleged that both executives had violated SAIPA’s rules, policies, codes, and procedures, leading to charges of…

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…