Author: Gugu Lourie

Facing severe financial difficulties, South African major solar provider Hohm Energy, a solar power firm, has halted operations and entered business rescue. Struggling to manage its debt, the company has laid off an unspecified number of employees. A business rescue practitioner has been appointed to evaluate the situation and chart a path forward. Franc Gray, CEO of Hohm Energy’s parent company, Spark Energy Services, revealed to TechCabal that the company has ceased operations as it seeks legal guidance on its next steps. Gray acknowledged that Hohm Energy is currently not active in the market. “We are working with legal counsel…

The Naspers and Prosus boards announced today that after 29 years of exemplary leadership and service, Basil Sgourdos will retire from his position as Group Chief Financial Officer and financial director of both companies. His retirement is effective 30 November 2024. Basil has had a broad and varied career at Naspers and Prosus having joined the company in 1994, initially as the finance manager of the South African operations division in MultiChoice before taking on a number of other global leadership positions within the group. He was appointed Group Chief Financial Director of Naspers in July 2014 and of Prosus…

In a challenging competitive landscape, Telkom Consumer recorded a 2.6% increase in revenue, reaching R6,589 million for the first quarter ended 30 June.. This improvement is attributed to Telkom’s data-centric approach, driven by both the Mobile business and the expansion of our fibre offerings. Revenue growth in the Mobile business was propelled by a 9.5% increase in external mobile service revenue, amounting to R4,996 million. Total external revenue rose by 5.3%, reaching R5,737 million. “This growth was fueled by our continuous delivery of innovative and value-oriented offerings, significantly boosting data consumption. Consumers increasingly sought value through our personalised pricing platform,…

Telkom has demonstrated notable success in the device insurance sector, serving approximately 1% of its customer base. This achievement emphasises the substantial growth potential within this market. Currently, Telkom boasts 161,612 device policies, generating an impressive R284.5 million in revenue. Despite this success, there remains ample opportunity for Telkom to expand its reach. By signing up more customers, Telkom can aspire to the levels of market penetration seen by competitors such as Vodacom and MTN, who have achieved significantly higher penetration rates in the device insurance market. The current figures reflect a promising start but also highlight the untapped potential…

As South Africa’s banks reduce ATMs due to increased digital banking adoption, high operational costs, and security concerns, the Shoprite Group offers a convenient solution for its customers. Shoppers can deposit and withdraw cash from their bank accounts at tills in all Shoprite, Checkers, and Usave stores nationwide. This provides customers with safe, convenient, and affordable access to their funds, even during load shedding, without the need for an ATM. Key Benefits Accessibility: With more than 2 100 stores (Shoprite, Checkers, and Usave supermarkets, as well as Shoprite and Checkers LiquorShops) and over 28 000 tills nationwide, customers can easily…

Gender equality has evolved from being a mere policy aspiration to a critical business imperative. South Africa’s major telecommunications companies are leading by example, placing their financial trusts in the capable hands of highly accomplished female leaders. This Women’s Month we celebrate South Africa’s telco’s top Chief Financial Officers. Raisibe Morathi – Vodacom Vodacom, the country’s largest mobile operator, relies on Raisibe Morathi to oversee its finances. Morathi joined the Vodafone-owned company in 2020, bringing a wealth of experience from the financial services sector. Her expertise is particularly valuable in navigating the booming mobile money space. With over 20 years…

Eskom today announced that copper cable thief Witness Sibanda has received a 15-year prison sentence. Sibanda was arrested at Camden Power Station after CCTV cameras detected movement around 9 PM. On 19 July 2024, the Ermelo Magistrate Court found Sibanda guilty of damaging and stealing essential infrastructure, as well as contravening South Africa’s Immigration Act. Essential and critical infrastructure crimes have the potential to significantly impact Eskom’s operations. Losses incurred because of this criminal activity amounted to approximately R100 000. The Judge laid down the judgment as follows: • Fifteen (15) years for damage to essential infrastructure. • Fifteen (15)…

Huawei Cloud is one of the top three cloud service providers in South Africa, according to Africa Analysis’ “2024 South Africa Cloud Computing Market Growth Forecast Report.” Despite only entering the cloud market in South Africa six years ago, Huawei has rapidly ascended the ranks. This achievement is particularly notable as nearly one in five surveyed users are running significant workloads on Huawei’s platform, showcasing the company’s strong competitive strategy in the region. The report indicates that the cloud market, valued at approximately R35 billion in 2023, is expected to grow to over R113 billion by 2028, highlighting the substantial…

Trading space in Woolworths Food grew by 3.2% for the 53 weeks ending 30 June 2024, while online sales increased by 52.8%, contributing 5.5% of South African sales. The retailers said the sales were driven by increased penetration of Woolies Dash offering, which delivered a 71.2% increase. Woolworths Food business delivered strong and above-market growth, reinforcing its strength and resilience, and the trust that customers place in our Woolies brand. Turnover and concession sales grew by 11.2%, and by 9.0% on a comparable 52-week period. On a comparable store basis, sales grew by 6.9%, notwithstanding the impact of taxi strikes…

OpenAI is stepping into the search engine arena, a field traditionally led by Google, by introducing SearchGPT. This new AI-driven search engine offers users real-time internet information access, marking a significant move for OpenAI in expanding its technological offerings. “We’re testing SearchGPT, a prototype of new search features designed to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources,” OpenAI wrote in its blog. “We’re launching to a small group of users and publishers to get feedback. While this prototype is temporary, we plan to…

Telkom recently unveiled a bold new brand and business repositioning under the inspiring tagline: Possible Begins Here. “This transformation is more than a mere update; it’s a pledge to realign our business with a singular focus—to empower our customers and ensure their possible begins with us. For Telkom, this isn’t just about streamlining processes; it’s about reimagining our entire customer experience, driven by a commitment to enhance interactions at every touchpoint.” Gugu Mthembu, Telkom’s Chief Marketing Officer, captured the essence of this transformation: “Our repositioning is about being your partner in life. Whether you’re a student connecting to a career-launching…

Telkom, the JSE-listed diversified ICT business, celebrated the growth and performance of its dealers’ network at its 2024 Dealers Conference Gala Dinner and Awards, held recently in Sun City. The dinner and awards were hosted by Jason Goliath and Zozo Tshwete. “Our partners are a crucial part of our journey in seamlessly connecting every South African. Your dedication and collaboration have been instrumental in Telkom’s success,” said Nonkululeko Dlamini, Telkom Group Chief Financial Officer. “Thank you for your unwavering support. We look forward to renewing our partnerships and forging new ones as we continue to innovate and grow.” The winners:…

The French media conglomerate Vivendi Group announced on Monday that it will pursue a listing for its pay-television business, Canal+, in London. Canal+ is in the process of acquiring MultiChoice, the owner of DStv, Supersport, and GoTV. Vivendi is controlled by the French billionaire Vincent Bolloré. “Canal+ would be listed on the London Stock Exchange to reflect the company’s international dimension, particularly as part of the ongoing combination with MultiChoice.,” said Vivendi. “With close to two thirds of its subscribers outside of France, a film and TV series distribution network present on all continents, and growth drivers resulting from its recent developments…

Capitec Bank today experienced a service disruption that affected its entire customer base of 22 million individuals, leaving them unable to access banking services. The incident has sparked frustration and inconvenience among customers, highlighting the significant impact of the outage on their daily financial transactions and operations. “We are experiencing nationwide service issues including Card. We’re working hard to resolve this. We apologise for any inconvenience,” Capitec said in a statement. See below Capitec’s statement Clarification on service disruption due to global downtime of technology service provider Capitec experienced significant disruptions across all our banking channels today due to a…

Weak demand for cars continued to play out in June. “Constrained economic conditions continue to impact the automotive market. As a whole the market was down for both the new and used car markets. Year-on-year used car sales dropped -6.4% in June,” revealed AutoTrader’s CEO, George Mienie. “The 27,750 used cars sold in June realised a value of R11.3 billion. Though sales improved by the smallest of margins in comparison to May, the additional 21 units failed to move the monthly growth percentage needle,” he added. In June, consumers paid an average of R407,655 for a 5 year-old used car…

The WD Blue SN580 1TB SSD is a solid-state drive from Western Digital’s WD Blue series. It utilizes PCIe Gen4 NVMe technology, offering fast data transfer speeds and storage capacity suitable for various computing needs, from gaming to everyday tasks. The WD Blue SN580 1TB SSD is designed to be a PCIe Gen4 NVMe drive, targeting a blend of high performance and cost-effectiveness. Key Details Specifications: Interface: PCIe Gen4 x4 Form Factor: M.2 2280 Capacity: 1TB Sequential Read Speed: Up to 4,150 MB/s Sequential Write Speed: Up to 4,000 MB/s Random Read IOPS: Up to 600,000 Random Write IOPS: Up…

The Huawei Watch Fit 3 embodies a remarkable fusion of style, functionality, and innovation, meticulously crafted to enhance both daily life and fitness routines. Whether you’re an avid fitness enthusiast or someone who values cutting-edge technology, this smartwatch delivers a plethora of features designed to cater to all aspects of your lifestyle. Design and Display Maintaining Huawei’s commitment to stylish design, the Watch Fit 3 features a large, vibrant AMOLED display that’s easy to read and responsive to touch. Its slim, lightweight body ensures comfort during long wear, suitable for both workouts and everyday use. Fitness Tracking and Health Monitoring…

The advent of the Intelligent Era is revolutionising the Digital Economy, driven by significant advancements in artificial intelligence (AI) and next-generation network technologies. Dr. Tayeb Ben Meriem, IPv6 Forum Vice Chair, highlighted these transformative trends in his recent keynote speech on “Next-Generation Network Trends.” “From a technical perspective, what we are seeing in the Digital Economy space is that the Intelligent Era is gaining momentum,” Dr. Tayeb stated. He pointed out two primary indicators: technical advancements and business impact, both of which are intricately linked. By 2026, AI is expected to achieve a 30% penetration rate, which will generate substantial…

Sanelisiwe Nyandeni, 26, from Qoboqobo village in the Eastern Cape, is making significant strides in her career journey. A former participant in the Retail Readiness Programme (RRP) and the Youth Employment Service (YES), she is now pursuing a diploma in Retail Business Management at Cape Peninsula University, thanks to a bursary from Shoprite. Shoprite’s RRP is one of the most successful skills development initiatives by a South African retailer and includes practical in-store training and theory. Participants receive NQF level 3 qualifications on successful completion and in the last financial year, 4 065 learners were trained, and 1 293 were…

EASE Holdings BV announced the expansion of its EASE (Equipment-as-a-Service) Healthcare programme in Southern Africa. In December 2023, the company opened a subsidiary in Johannesburg, EASE South Africa. The Southern Africa regional expansion marks an important step in EASE’s geographic footprint, which launched in Ghana and Nigeria in 2022. “Opening EASE South Africa is a tremendous milestone in our healthcare practice,” said Kanyinsola Oyeyinka, VP of Healthcare, demand for health services continues to increase annually. “We see great demand from rapidly growing medical facilities in Southern Africa, seeking access to state-of-the-art equipment on flexible terms that allow them to grow their…

Shanghai is a city of unshakable charm, blending the old with the new and the East with the West. My journey began at the sleek Pudong International Airport on June 24, which set the tone for what was to come. Known as one of China’s most sophisticated cities, Shanghai is the commercial hub and a beacon of modernity. My recent trip to Shanghai had such a profound impact on me that I couldn’t resist breaking the silence to share my captivating experience with the world. I have been to Beijing several times. A City of Contrasts Driving to the Sheraton…

The logistics sector plays a crucial role in the economy, facilitating the movement of goods across vast distances. However, this sector is also a significant contributor to carbon emissions. As the world increasingly focuses on sustainability, it is imperative for logistics companies to adopt strategies that reduce their carbon footprint. According to Martínez, a research scientist at the MIT Centre for Transportation and Logistics, freight transportation accounts for 8% of global greenhouse gas emissions, and its carbon footprint is projected to double by 2050. “As a responsible corporate citizen, we recognise the importance of taking action to mitigate this impact,”…

The Bidvest Group board has approved the process to dispose of Bidvest Bank and its related entity, FinGlobal. This decision is part of a broader strategic restructuring aimed at aligning and strengthening the group’s core business operations. The short-term insurance businesses within Bidvest’s Financial Services division, which primarily focus on vehicle insurance and related value-added products, will be transferred to the Automotive division. This move supports the Automotive division’s strategy of diversifying into allied automotive services. The disposal process for Bidvest Life, which had been announced previously, is currently underway. Following these disposals, the Bidvest Group will comprise six divisions:…

In the digital economy, data is cast as a critical asset, one that’s key to production. Indeed, data is now a foundational and strategic resource for every organization and, as we step into the YB — yottabyte — age, data applications are proliferating, making trustworthiness and reliability central to data infrastructure. Dr. Peter Zhou, president of Huawei’s Data Storage Product Line, explains that as data usage evolves, so must storage solutions. AI demands efficient, data-driven storage. “AI is different,” Zhou notes. “It’s the right time to redefine data storage.” Typically, boosting AI data centre performance focuses on adding GPUs. However,…

Panyaza Lesufi, Premier of Gauteng Province, announced that the seventh administration has no plans to alter any of the policies set by its predecessor led by the African National Congress. Speaking at the Huawei Africa Connect conference in Sandton, Lesufi emphasised that the new government of national unity will not consider any policy changes or shifts. “We will accelerate policy transformation,” Lesufi stated. “We will work with businesses to bring about change and improve service delivery. The new administration, once sworn in, understands its mandate to collaborate effectively.” Lesufi highlighted digital transformation as crucial for enhancing service delivery. “The world…