Author: Gugu Lourie

Pineapple, South Africa’s InsurTech, has revealed the successful completion of a funding round amounting to R400 million. This milestone establishes a new record as the continent’s largest Insurtech fundraising effort, underscoring investor faith in Pineapple’s innovative approach to insurance. New investors, namely Futuregrowth, Talent10, and MIC, spearheaded the investment round, with additional support from existing investors such as Old Mutual ESD, Lireas Holdings, ASISA ESD Fund, and E4E Africa. The successful funding round was driven by Pineapple’s impressive growth and sustainable claims ratios, surpassing industry standards for a relatively new insurance portfolio.  “This funding round stands as a testament to…

CSquared is propelling the growth of its carrier-neutral, open-access broadband infrastructure through a recent infusion of equity investment from both new and existing shareholders. This funding, totaling $25 million or R467 million, includes contributions from Convergence Partners Digital Infrastructure Fund, IFC – International Finance Corporation, and the International Development Association’s (IDA) Private Sector Window Blended Finance Facility. This initial tranche marks the beginning of a comprehensive $65 million or R1.2 billion investment program designed to fuel CSquared’s ambitious expansion and development goals. Concurrently, CPDIF has acquired the stake in CSquared previously held by Google LLC. “The opportunity to increase our…

The Vodacom Super App, VodaPay, continues to attract an increasing number of users, with 7.6 million downloads reported in the quarter ending September 2023, compared to 6.7 million in the previous quarter. During this timeframe, the super app garnered 4.1 million registered users. Serving as a comprehensive digital platform for shopping, lifestyle, and financial services, VodaPay caters to both consumers and businesses. In parallel, Vodacom Financial Services experienced significant growth, with revenue reaching R6.2 billion, marking a 39.9% increase in the quarter ending September 2023. Notably, the normalized M-Pesa revenue exhibited a growth of 13.2% over the period and 12.9%…

In anticipation of World Diabetes Day 2023, P&G Health, the creator of Neurobion, has initiated a groundbreaking #KnowTheSigns campaign. The objective is to enlighten both consumers and healthcare professionals about the correlation between the indicators and manifestations associated with diabetes and pre-diabetes. This innovative campaign vividly illustrates the experience of Vitamin B deficiency. The primary goal of the campaign is to empower healthcare professionals and individuals grappling with Vitamin B deficiency to recognise early symptoms. Early identification aims to facilitate prompt treatment, thereby enhancing overall quality of life. Vitamin B deficiency assumes a crucial role in nerve health, and it…

Mercedes-Benz SA is reinforcing its commitment to transforming the automotive industry and embracing electric mobility with a substantial investment in the local Electric Vehicle (EV) charging network. As the demand for EVs continues to surge, a robust infrastructure is imperative. Mercedes-Benz South Africa proudly offers the country’s most extensive range of electric vehicles, including the EQ and EQ AMG models, with a focus on the SUV category. In a proactive move to meet the growing demand, Mercedes-Benz South Africa is investing in the expansion of the local charging network, aiming to establish over 120 charging stations across South Africa. Collaborating…

In a thrilling initiative to encourage the adoption of MyMTN Prepaid Khava, MTN South Africa, in partnership with aYo Intermediaries and underwritten by Sanlam, is launching the MTN Free4U Funeral Khava during its Summer campaign, providing prepaid customers with complimentary R5000 coverage. Effective from October 27, 2023, to January 31, 2024, this promotion aims to empower customers with financial security. MyMTN Prepaid Funeral Khava stands out as a groundbreaking funeral cover, redefining affordability and convenience since its launch on August 24, 2023. Offering flexible 6 or 12-month terms starting at just R75 for a single premium, it eliminates waiting periods,…

Vodacom South Africa has reported commendable half-year results, revealing a 4% increase in service revenue to R30.7 billion for the six months ending on September 30. Despite persistent macroeconomic challenges, the company, a subsidiary of Vodafone, considers this growth a credible achievement. This positive outcome is attributed to the introduction of new services and the surge in mobile data usage. Financial and digital services, fixed solutions, and IoT experienced an impressive 18.1% rise, contributing R5.1 billion, equivalent to 16.6% of South Africa’s service revenue. Within its core connectivity business, Vodacom emphasized that the expansion of mobile data was supported by…

Vodacom, South Africa’s largest telecommunications operator, faced a 4.2% decline in half-year earnings for the period ending on September 30. This downturn was attributed to start-up losses in Ethiopia, increased interest rates, and the recognition of a deferred tax asset in Tanzania from the previous year. The company disclosed that headline earnings per share (HEPS), considered South Africa’s true profit indicator, fell to 438 cents during the six months compared to 457 cents in the same quarter a year earlier. Vodafone Egypt contributed 16 cents to HEPS. Despite the challenges, Vodacom reported a substantial increase in revenue for the quarter,…

Clickatell, a trailblazer in “chat commerce” based in South Africa, has introduced artificial intelligence tools designed for crafting tailored conversations. Leveraging natural-language processing, Clickatell AI adeptly understands the intent behind customer inquiries. The incorporation of generative AI enables the provision of substantial and valuable interactions. By employing artificial intelligence and messaging, this conversational AI solution enhances customer engagement and fosters robust relationships through the facilitation of personalized conversations. Clickatell AI employs natural language processing (NLP) to comprehend the intent behind customer inquiries, coupled with generative AI to offer meaningful and valuable conversational interactions that evolve over time. Seamlessly integrated into…

Eskom has revealed a groundbreaking achievement with the inauguration of the largest Battery Energy Storage System (BESS) project in South Africa, marking a milestone not only for the country but for the entire African continent. The official unveiling took place at the Hex BESS site in Worcester, located in the Western Cape, yesterday. The completion of the Hex BESS marks a significant milestone as the inaugural project within Eskom’s flagship BESS initiative, announced in July 2022 to address the strain on the national electricity grid. This strategic response aims to tackle South Africa’s persistent electricity challenges by augmenting storage capacity,…