Author: Gugu Lourie
Netflix cofounder and Chairman Reed Hastings will step down from the company’s board this summer, choosing not to extend his tenure when his current term expires. The streaming giant disclosed in a letter to shareholders that Hastings is exiting to concentrate on “philanthropy and other pursuits.” The news came Thursday as part of Netflix’s first-quarter earnings release. According to the regulatory filing, Hastings’s official departure will take effect in June, when his term concludes. The letter stated that “Reed Hastings has informed us that he will not stand for re-election to our Board when his current term expires at the…
London, United Kingdom — As the English Premier League enters its final weeks, sports data platform TipsGG has released new data on referee disciplinary patterns in the 2025/26 season, revealing major differences in how matches are officiated. The report highlights a significant statistical variance in officiating styles, with Stuart Attwell and Anthony Taylor emerging as the league’s most punitive officials. To quantify card distribution, the TipsGG dataset tracks a Strictness Summary (cumulative points: 3 for a direct red, 2 for a second yellow, and 1 for a single yellow) and a Strictness Index (Strictness Summary per match). Both Attwell and…
The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R1 500 000 on Mr Ian Roscoe (Mr Roscoe) and debarred him for a period of 20 years. The FSCA stated that the regulatory action follows an investigation by the Authority in respect of Mr Roscoe. The FSCA confirmed that the investigation found that Mr Roscoe rendered intermediary services that resulted in his clients investing in the BHI Trust investment, which was run by Mr Craig Warriner (Mr Warriner). According to the FSCA, the BHI Trust and Mr Warriner were previously found to have contravened section 7(1) of…
Optasia, an AI-powered financial infrastructure platform serving underbanked customers in emerging markets, notes that FirstRand Limited has increased its shareholding in Optasia to 26.1% through the acquisition of an additional 6% stake. FirstRand acquired 74,103,711 ordinary shares in Optasia at ZAR20.00 on 25 March 2026 from an entity owned by Bassim Haidar, founder and non-executive director of Optasia. This follows FirstRand’s initial strategic investment in Optasia in October 2025, where it acquired 20.1% of Optasia ahead of its IPO. Subsequent to the transaction, Bassim Haidar now holds an aggregate, indirect shareholding of 1.5% of the total issued shares in Optasia,…
A landmark Vodacom transaction, alongside strong operational showings from Vumatel and Dark Fibre Africa, has propelled Remgro’s fibre infrastructure arm, CIVH, into profitability. In interim results for the six months to 31 December 2025, released on Wednesday, Remgro revealed that CIVH recorded headline earnings of R216-million – a marked improvement from the R248-million loss in the comparative period. The fibre unit’s contribution to Remgro’s headline earnings similarly strengthened to R123-million, reversing a loss of R141-million a year prior. CIVH contributed a profit of R123 million to Remgro’s headline earnings, a sharp improvement from the R141 million loss a year earlier.…
Cinergy Mobile Power has officially launched in South Africa, bringing smart, diesel-free energy systems to the country’s film, TV and live event industries. The company is the first to offer purpose-built mobile power solutions tailored for African film and entertainment. Instead of relying on traditional diesel generators, Cinergy’s modular systems combine solar and battery technology to deliver silent, cost-effective energy with zero emissions. The systems also provide real-time data on power usage, helping productions work smarter. And crucially, they fit straight into existing workflows – no need to change how crews already do things. “Energy has become a strategic production…
BMW has redefined its iconic sedan. The newly unveiled BMW i3—the electric version of the beloved 3 Series – is making a bold statement, positioning itself as a leader in range and technology. Built on the revolutionary Neue Klasse platform, this vehicle isn’t just an EV; it is a technological quantum leap into a new era for the brand. Record-Breaking Range and Ultra-Fast Charging The headline feature of the new i3 is its exceptional range. Thanks to a massive 108 kWh battery and sixth-generation BMW eDrive technology, the vehicle achieves up to 895 kilometers on a single charge under the…
Spar Group informed shareholders on Tuesday that it will implement a voluntary severance programme in certain areas of the business as part of its ongoing focus on improving operational efficiency and competitiveness. “The severance programme forms part of a broader reset designed to align the Group’s cost base with current trading conditions and ensure Spar is appropriately structured to support future sustainable growth,” reads the statement. The company said the process does not affect the Group’s retailers or services provided to Spar’s retail network. The Group remains focused on strengthening operational performance and supporting its network of independent retailers. This…
Skynamo, the unified sales operations platform built for manufacturers, wholesalers and distributors, has joined Klipboard, a global provider of vertically focused business management software, in a move set to accelerate innovation and expand market reach. The acquisition strengthens Skynamo’s ability to support complex sales and operational environments for nearly 1,000 businesses every day across Sub-Saharan Africa, the UK and the USA. The platform currently facilitates more than $70 million in monthly order value and supports millions of customer interactions annually. By joining Klipboard, Skynamo gains the backing of a global software group serving more than 55,000 enterprise and SMB customers…
Woolworths has announced a landmark deal to acquire one of its longest-standing and largest suppliers, in2food, from a consortium of sellers including the founders and Old Mutual Private Equity, in a transaction valued on the back of the supplier’s massive revenue base. The retail giant confirmed on Monday that it had entered into an agreement to purchase 100% of the issued shares of in2food Holdings, a move that solidifies a partnership that has lasted over three decades. A strategic swallow in2food, a powerhouse in the South African convenience food sector, generates revenue in excess of R5 billion per annum. The supplier…
Vodacom Tanzania, in partnership with M-Pesa Africa and global issuer-processor Paymentology, has officially launched Africa’s first mobile-money Tap-to-Pay feature on the M-Pesa SuperApp, marking a historic shift in how consumers across the continent can pay. The new capability allows M-Pesa customers to make secure, contactless payments using their Android mobile phones at any Visa-enabled point-of-sale terminal, both locally and internationally. The innovation transforms the everyday transaction experience for millions of users, enabling them to pay, travel, and do business with a simple tap. Epimack Mbeteni, M-PESA Director at Vodacom, emphasized the collaborative effort behind the milestone: “What began as a…
In a resounding validation of its AI-driven model, newly listed fintech powerhouse Optasia has dropped stellar full-year results for 2025, smashing through revenue targets and solidifying its position as a dominant force in emerging market financial inclusion. The numbers tell a story of hyper-scalability and strategic genius: Revenue skyrocketed 76% to $265 million, while the total value distributed through its platform hit a staggering $5.5 billion – a 44% leap forward. This explosive growth comes on the heels of its transformative JSE listing and the onboarding of FirstRand as a strategic partner, proving that Optasia is not just growing, but redefining the…
French media group CANAL+ announced on Wednesday that it will initiate a voluntary severance plan at MultiChoice across its support functions. The company will also launch a restructuring programme at Irdeto, MultiChoice’s technology and cyber-security company. “These planned changes are consistent with the commitments CANAL+ made during the acquisition of MultiChoice and align with the ambition of CANAL+ to streamline certain functions while investing more in activities that directly support the Group’s growth and business development,” said CANAL+. CANAL+ will focus on four key medium-term priorities: Turning around MultiChoice and capturing African growth opportunities through the launch of a “boost…
As global travel demand continues to surge, with Airbnb recently reporting a 12% revenue increase in the fourth quarter of 2025 and projecting “low double-digit” growth for 2026, a new wave of innovation is emerging from Africa . Durban-based startup AirhostSwap is quietly gaining traction by solving the oldest problem for property hosts: inventory waste. Instead of letting unbooked nights expire, AirhostSwap allows hosts to convert that dormant inventory into a global travel currency. The platform, which now boasts more than 2,500 properties globally, synchronizes directly with Airbnb calendars to allow hosts to exchange nights without affecting existing paid bookings. “After looking closely at…
Smile ID, Africa’s leading identity verification company, has released its 2026 Digital Identity Fraud Report — “From Selfies to Signals: Identity Enters the Security Era.”. The report finds that AI has rapidly reduced the cost, while increasing the scalability and quality of deepfake fraud. In addition, as identity becomes part of the fabric of many essential applications, fraudsters increasingly attack the online ID capture pipeline itself — manipulating devices, operating systems, and verification sessions to try and bypass verification technology. In Southern Africa, nearly nine in ten rejected biometric verification attempts were linked to AI-assisted impersonation and spoofing. Specifically, impersonation…
In an expected move in the African streaming landscape, MultiChoice has officially announced the termination of its flagship streaming service, Showmax. The decision, described as the result of a “comprehensive review,” marks a stunning end to the platform that once stood as the continent’s primary challenger to global streaming titans. The curtain is falling on Showmax due to what the company calls “substantial annual losses” that have “proved unsustainable” in a “capital-intensive global streaming environment.” The board’s decision underscores a brutal new reality: in the war for viewers’ attention, even a homegrown giant could not withstand the financial firepower of…
Nedbank has released its unaudited interim results for the year to December 2025, revealing robust growth driven by its digital ecosystem. With over 700,000 Nedbank Greenbacks members registered on the Avo platform, Greenbacks gross merchant value (GMV) grew by 35%. This surge was supported by key platform enhancements in 2025, including trade-ins, Instant EFT, and an upgraded Travel experience. Since launching the Avo SuperShop in 2020, more than 24,000 businesses have registered to sell their products and services through the platform. Avo Auto has also excelled, surpassing R1bn in cars sold to date. On the financial front, Nedbank Group’s diluted…
Growthpoint Properties and Tricolt officially marked the groundbreaking of Olympus Sandton on Thursday, 26 February 2026, as the development prepares to redefine the skyline at the highest point of the Sandton Summit precinct. The ceremony confirms that momentum behind the project has not slowed since its explosive sales launch. Having released apartments in February 2025, the development has already secured sales for more than 85% of its 527 units valued at R1.4 billion, leaving only 80 residences available. “This is not just a building; it is the physical manifestation of the demand for integrated urban living,” said a representative from…
Samsung has officially taken the wraps off its latest flagship smartphones, the Galaxy S26 series, confirming a major leap forward in on-device artificial intelligence. Described as the company’s “third-generation AI phones,” the lineup – comprising the Galaxy S26, S26+, and S26 Ultra – is engineered to simplify everyday tasks by working proactively in the background. Alongside the global announcement, Samsung South Africa has revealed local pricing and pre-order benefits, confirming that the devices will be available for pre-order from 26 February to 19 March 2026. A New Era of Effortless AI The core philosophy behind the Galaxy S26 series is…
CAPE TOWN, South Africa – Cape Town International Airport (CTIA) experienced significant operational disruptions on Tuesday after a fire broke out in the landside area of the terminal, leading to the suspension of international departures. According to an official statement from Airports Company South Africa (ACSA), the fire has been extinguished, and there are no reports of injuries. “All passengers, staff, and visitors are safe. Passenger safety remains our highest priority,” an ACSA spokesperson confirmed. The blaze caused substantial damage to critical network and IT infrastructure, knocking out essential services including airport Wi-Fi and internal systems. Flight Disruptions and Diversions…
After 19 years of dedicated service, including two and a half years as Group Chief Executive Officer, Angelo Swartz will depart SPAR on 28 February 2026. His exit marks the end of a lengthy tenure that saw him guide the retail giant through a period of substantial operational complexity and strategic repositioning. Swartz took the helm in October 2023 during a turbulent chapter for the group. His leadership focused on three critical pillars: operational stabilisation, portfolio simplification, and balance sheet strengthening. To ensure business continuity, Swartz will remain available to the group for three months post-departure, assisting with key strategic…
Telkom Consumer’s operating revenue climbed 5.7% to R20.5 billion for the third quarter ended 31 December 2025, fueled by growth in both mobile and fibre services, the Telkom Group announced today. The consumer unit – led by Lunga Siyo – continues to gain traction through targeted customer value management initiatives and aggressive fibre expansion, reinforcing its position as South Africa’s fastest-growing mobile and fixed broadband provider. Mobile Momentum Total revenue for the Mobile business grew by 5.5% to R6.716 billion, driven by mobile service revenue expanding by 7.2%. Pre-paid service revenue—powered by Customer Value Management (CVM) platforms—improved by 11.6% and…
SA’s largest wholesale network provider Openserve has crossed the 1.5 million homes passed milestone with fibre, while maintaining its industry-leading connectivity rate at 52.4%, Telkom Group disclosed in its latest JSE trading update. The wholesale unit’s overall revenue grew by 2.2%, driven by fibre-related data revenue, which climbed 8.7% (or R204 million). Fibre-related revenue now accounts for 87% of Openserve’s operating revenue, underscoring the strategic shift away from copper. “Our exceptional network reliability resulted in uptime of 99.84%, 99.92% and 100.00% across access, transport and core network, respectively,” Telkom reported. “Our Net Promoter Score (NPS) was 79.2 for the quarter…
BCX is entering a critical leadership transition as long-serving industry veteran Jonas Bogoshi prepares to retire, handing over the reins at a time when the enterprise business unit continues to bleed revenue amid cautious client spending. The telecommunications and IT services provider, owned by JSE-listed Telkom Group, confirmed that Bogoshi—who joined as chief revenue officer in April 2018 before being promoted to CEO later that year—will step down effective 1 March 2026. His departure comes as BCX grapples with a 9.3% revenue decline in the third quarter of FY2026 and a 5.9% drop year-to-date, dragged down by continued strain in…
President Ramaphosa confirms nearly 30 companies have signalled interest in building South Africa’s first high-speed rail network — with Johannesburg to Durban and Johannesburg to Musina corridors in the crosshairs. South Africa’s long-awaited bullet train dream just shifted into a higher gear. Delivering the 2026 State of the Nation Address, President Cyril Ramaphosa revealed that nearly 30 companies have formally expressed interest in participating in the country’s proposed high-speed rail corridors. “We continue preparations for the introduction of high-speed rail in South Africa, covering routes such as Johannesburg to Musina, and eThekwini to Johannesburg,” Ramaphosa said. “Nearly 30 companies indicated their willingness…