Author: Gugu Lourie

The DA today opened a criminal case with the Hawks to investigate alleged tender fraud of R831 100 in the Mamusa Local Municipality. “Documents in our possession indicate that the Chief Financial Officer (CFO), Mr Vincent Masilo, who also serves as the Acting Municipal Manager, allegedly facilitated the purchase of 16 Mecer Xpress Executive MW10Q17+ tablets for R590 000. A single tablet retails between R3 000 and R4 000, but CFO Masilo allegedly paid R36 875 per device, inflated by 920%,” said CJ Steyl, DA North West Provincial Spokesperson: Cooperative Governance, Human Settlements and Traditional Affairs. See documents here. In…

Empire Partner Foundation (EPF) firmly believes in the power of homegrown innovation. The foundation is deeply committed to nurturing local talent and has collaborated with visionary technology partners and startups across South Africa. EPF’s mission has always been to elevate the local tech community by providing the resources and platforms necessary for their success. “We’re excited to unveil a new initiative that reflects this commitment—a carefully curated Directory of South African Innovation,” EPF said in its Linkedln page. “This isn’t just a list; it’s a showcase of trusted local tech companies that have been rigorously vetted for their quality and…

Eskom has confirmed the arrest of four employees and a contractor security guard in connection with the theft of R500,000 worth of heavy fuel oil from Camden Power Station. The accused, detained at Ermelo Police Station, were charged following their initial arrests on 10 August 2024. Two Eskom Weighbridge Operators were apprehended at midnight for colluding to steal and defraud the company. On 16 August 2024, two additional Eskom employees – a Weighbridge Operator and a Control Room Operator -and a contractor security guard were also arrested. All suspects remain in custody, with the case postponed to 27 August 2024…

On August 20, 2024, Eskom, in partnership with law enforcement agencies, successfully removed over 35 illegally connected transformers in Diepsloot Extension 6, Gauteng. This operation is part of Eskom’s ongoing efforts to reclaim its network and reduce the strain from unauthorized electricity connections. During the 2022/23 financial year, Eskom faced non-technical losses amounting to approximately R5 billion due to illegal connections, meter bypasses, and other electricity-related crimes. These activities not only harm Eskom’s financial stability but also hinder its ability to provide reliable electricity to legitimate customers. Illegally connected transformers destabilize the network, leading to frequent supply interruptions, extended outages,…

Kaspersky has uncovered an online fraud campaign targeting Windows and macOS users worldwide, aiming to steal cryptocurrency and sensitive information. Orchestrated by Russian-speaking cybercriminals, the attackers exploit popular topics like web3, crypto, AI, and online gaming to lure victims with fake websites. These sites, which closely mimic legitimate services such as crypto platforms, online role-playing games, and AI translators, are polished and sophisticated. Despite minor differences in elements like names and URLs, the convincing design of these malicious sites increases the likelihood of successful attacks. The campaign spreads info-stealing and clipper malware, posing a significant threat to individuals globally. Victims…

In a troubling development, cybersecurity experts have identified a sharp increase in malware infections, traced back to deceptive online ads that are spreading a malicious software loader known as FakeBat. These covert campaigns are catching users off guard, leading to widespread security breaches. Since mid-2023, Mandiant Managed Defense has responded to a surge in malware infections originating from malvertising campaigns. “These attacks are opportunistic in nature, targeting users seeking popular business software. The infection utilizes a trojanized MSIX installer, which executes a PowerShell script to download a secondary payload,” the Mandiant Managed Defense team said in a technical report. “Our research into…

The question of whether Wits’ Flower Hall Exam Building is the most innovative in the world will soon be answered. The Wits Flower Hall Examination and Test Centre, located on Wits University’s Campus West, has gained international recognition for its transformative and sustainable design. It has been shortlisted in the Creative Reuse category at the prestigious World Architecture Festival (WAF), scheduled to take place in Singapore from 6 to 8 November 2024. Originally part of the Rand Easter Show showgrounds, the Flower Hall has undergone a remarkable redevelopment led by Savage + Dodd Architects. The project transformed the aging, uncomfortable…

MTN’s super app platform, ayoba, has seen remarkable growth, expanding its user base by 28.6% year-on-year to reach 36 million monthly active users (MAUs) by the end of June 2024. This surge in users is largely attributed to the platform’s enhanced communication features, which have driven higher adoption and retention rates. Digital revenue for MTN increased by 19.3% year-on-year to R1.6 billion, bolstered by the company’s expansion into new business segments and the rising adoption of digital products, especially in key markets like Nigeria and Ghana. The company’s focus on scaling the Gaming and Video verticals also contributed to this…

Despite facing significant challenges in the first half of the year, MTN’s Bayobab delivered strong financial results. The company navigated a complex landscape that included the ongoing conflict in Sudan, local currency volatility, and disruptions caused by multiple subsea cable cuts. These cable cuts led to downtime for eight major subsea cables connecting the African continent, with four of these cables on the west coast of Africa experiencing simultaneous outages. Remarkably, Bayobab managed to restore service within a few days, leveraging existing redundant capacity links and the newly installed Equiano cable. In this challenging environment, Bayobab achieved a resilient financial…

MTN’s strategic push to diversify its business is paying off, with significant growth in fintech services and data traffic driving a notable increase in sales. By expanding beyond its traditional telecom offerings, the company is not only strengthening its market position but also tapping into new revenue streams that are proving to be highly lucrative. In constant currency, data service revenue increased by 21% in the six months to 30 June 2024 and fintech service revenue climbed by 27%. By the end of June 2024, MTN reported a modest 0.8% increase in its subscriber base, reaching 288 million across 18…

RansomHub ransomware operators have introduced a new malware, dubbed EDRKillShifter, to cripple security defenses in Bring Your Own Vulnerable Driver (BYOVD) attacks. Discovered by Sophos in May 2024, the malware exploits a legitimate but vulnerable driver to escalate privileges, disable Endpoint Detection and Response (EDR) tools, and seize control of targeted systems. During the incident in May, the threat actors – we estimate with moderate confidence that this tool is being used by multiple attackers — attempted to use EDRKillShifter to terminate Sophos protection on the targeted computer, but the tool failed,” Andreas Klopsch, a threat researcher at Sophos, wrote…

Hyperscalers AWS, Microsoft, and Google are intensifying their efforts to expand market share by leveraging artificial intelligence (AI), according to a recent report by Canalys. As the competition in the cloud industry heats up, these tech giants are increasingly turning to AI-driven solutions to differentiate their offerings and capture a larger slice of the rapidly growing cloud services market. Enterprise software sales through hyperscaler cloud marketplaces—led by AWS, Microsoft, and Google Cloud—are projected to reach $85 billion by 2028, up from $16 billion in 2023. The availability of cloud credits for third-party purchases and the emergence of new digital-first buyers…

C-CONNECT, South Africa’s newest virtual mobile network operator (MVNO), has launched nationwide, offering mobile subscribers more choice and competition. With a focus on providing affordable mobile services without compromising quality, C-CONNECT is set to become the top choice for savvy prepaid users. This innovative SIM-only prepaid brand operates on C-Cell’s robust network infrastructure, rewarding users for their everyday mobile activities. When subscribers top up their prepaid Airtime or Data, they earn 10% back in the form of Cha-Chings, an in-app currency that can be used to purchase items that enhance their lives. Cha-Chings can be redeemed for a variety of…

The Telkom FutureMakers enterprise and supplier development (ESD) programme has reported impressive successes – creating procurement and innovation impact worth R339 million, far exceeding its goals and impacting thousands of lives. These millions of rands worth of impacts in the 2024 financial year come in the form of procurement opportunities and innovation programmes to support developing enterprises and represent enormous growth from the 2023 level of R191 million. During the 2024 financial year, SMMEs in the Telkom FutureMakers programme increased to 428 from 320. Telkom’s investments in SMMEs and development programmes resulted in positive social and commercial outcomes in the…

Pick n Pay, a retailer with over 1,650 stores across seven African countries, has partnered with OpenText to supercharge its software testing processes. By leveraging generative-AI and private large language models (LLM), Pick n Pay has automated 95% of its software testing, cutting testing times by up to three days and significantly improving its digital services for ecommerce customers. Pick n Pay integrated OpenText’s cloud-based value stream management (VSM) and DevOps platform, OpenText ValueEdge, with the pioneering AI capabilities of OpenText DevOps Aviator, to meet the escalating customer demand for innovative digital shopping tools. By activating OpenText DevOps Aviator within…

Attacq and Hyprop Investments, two major South African shopping mall owners, are divesting their interests in Sub-Saharan mall assets worth R1 billion. The assets in question, located in Ghana and Nigeria, are being sold to Lango Real Estate Limited. The transaction involves a complex ownership structure: Attacq, via AIH International, and Hyprop, through Hyprop Mauritius, hold stakes in Nigeria’s Gruppo Investments and Ghana’s AttAfrica. Specifically, AIH International owns 25% and Hyprop Mauritius 75% of Gruppo’s shares, while both firms have a 50% stake in AttAfrica, with their economic interests being 27% and 73%, respectively. The sale will see these stakes…

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…