Author: Gugu Lourie

Mesh.trade MD Connie Bloem believes the future of gold investment must be inclusive, with tokenisation as the solution. “The potential gold holds as a safe, proven hedge against market volatility makes it extremely attractive as an asset class, and tokenisation makes it accessible to just about anybody,” she says. Krugerrand tokens are now live on Mesh.trade’s digital capital markets platform. Each token represents full ownership of a physical, uniquely numbered 1oz bullion Krugerrand, securely stored at Brink’s, an internationally recognised vault facility. The coins, sourced from Rand Refinery, are fully backed and vaulted. “What’s unique about this offering is that…

JSE-listed Absa Group has announced the appointment of Kenny Fihla as its new CEO, effective 17 June 2025. Fihla, a seasoned banking executive with nearly 20 years of leadership experience, joins Absa from Standard Bank Group, where he held several senior roles. Absa described Fihla as a “recognised leader with substantial Pan-African banking experience and a proven track record.” He joined Standard Bank in 2006 and served in key positions, including Chief Executive Officer of Corporate and Investment Banking (CIB), Deputy Chief Executive Officer of Standard Bank Group, and Chief Executive Officer of Standard Bank South Africa. As Deputy CEO,…

Sunbet, the online betting platform of JSE-listed Sun International, has sustained its remarkable growth trajectory, with income surging by 60.6% to R1.2 billion for the year ending December 2024. This achievement marks another instance of the platform exceeding its ambitious growth targets. Sun International, a leading South African casino and hotel group, attributed this success to the rapid expansion of online gaming, driven by technological advancements, shifting social attitudes, and other industry dynamics. However, the company emphasized the need for enhanced compliance monitoring to address the challenges of operating in an increasingly vulnerable digital landscape. “As responsible corporate citizens, we…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. The following note from Lip-Bu Tan was emailed to all Intel Corporation employees on March 12, 2025: Team, I’m humbled and honoured to be your next CEO. Intel is a company I have long admired. Since I was a child, I have been captivated by the power of science, technology and engineering — and Intel’s innovation has been at the heart of so many world-changing breakthroughs along the way. Of course, as we all…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. Tan will succeed Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Additionally, Tan will rejoin the Intel board of directors, having previously stepped down from the board in August 2024. Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors. Zinsner will continue in his role as executive vice president and chief financial officer, while Johnston Holthaus will remain CEO…

The Association of Comms and Technology (ACT) – an industry body – has welcomed the National Treasury’s proposal to exempt smartphones priced at R2,500 or less from the 9% ad valorem excise duty, effective 1 April 2025. This move aims to support digital adoption among low-income households. Currently, smartphones in South Africa are subject to a 9% excise duty. However, the Treasury announced on Wednesday that this duty will now apply only to devices priced above R2,500. ACT CEO Nomvuyiso Batyi hailed the decision as a significant step toward digital inclusion. “This tax exemption is a game-changer for millions of…

The Democratic Alliance (DA) has firmly rejected the ANC’s proposed budget, citing concerns over permanent tax increases and a lack of economic reforms. In light of new and persistent spending pressures in health, education, transport and security, government has decided to raise value-added tax (VAT) by 0.5 percentage points in each of the next two years, which will bring VAT to 16% in the 2026/27 financial year. “These have to do with the government properly fulfilling its service delivery mandate. After careful consideration, the government has decided to fund these. Deferring the funding of these sectors further would compromise the…

Consolidated government spending is expected to increase from R2.4 trillion in 2024/25 to R2.83 trillion in 2027/28, at an annual average of 5.6%. Consolidated expenditure will reach R2.59 trillion in 2025/26. This according to National Treasury’s 2025 Budget Review document. The majority of that spend will fund the social wage, which includes spend on health, education, social protection (grants), community development and employment programmes. “Over the medium-term, economic development is the fastest-growing function at an annual average rate of 8.1%, driven by higher allocations to infrastructure projects. “Spending is highly redistributive, with the social wage making up 61% of total…

Cape Town has become the first city in South Africa to deploy advanced pole manipulator trucks, designed to enhance streetlight maintenance and repairs. These state-of-the-art vehicles, equipped with cutting-edge technology, are set to transform the efficiency and safety of streetlight operations across the metro. The City maintains over 245,000 streetlights, with plans to invest over R63 million in its fleet of aerial platform trucks, crane trucks, and light motor vehicles in the new financial year. During a recent demonstration in Epping, Alderman Xanthea Limberg, the City’s Mayoral Committee Member for Energy, highlighted the capabilities of the new 26-tonne pole manipulator…

The moment we’ve all been waiting for is finally here! TechFinancials, in collaboration with the Empire Partner Foundation, today kicks off the TechFinancials Q&A Competition, a platform for brilliant minds to share their ideas and win big! Do you have a vision for a better home, community, or country? Here’s your chance to turn your ideas into reality and get rewarded for it! The Empire Partner Foundation and TechFinancials believe in the power of innovation and the ability of individuals to be the change agents of tomorrow. That’s why they’ve teamed up to create this exciting competition, where your insights…