Author: Gugu Lourie

South Africa’s largest and oldest crypto asset service provider, Luno, has secured a licence from the Financial Services Conduct Authority (FSCA) to operate as a financial services provider. Luno is the first dedicated crypto asset service provider in South Africa to be awarded its financial services provider licence following the FSCA’s declaration of crypto assets as a financial product in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS). Christo de Wit, Luno’s country manager for South Africa, says, “As a homegrown trailblazer with more than ten years of experience in the crypto market, Luno is thrilled to…

Harnessing the potential of technology to spearhead agricultural advancement, Woolworths has introduced a pioneering initiative called ‘Farming for the Future’. Within this endeavour, the company has revealed the groundbreaking utilisation of drones by its suppliers to revolutionise farming practices globally. The primary aim of this campaign and dissemination of such insights is to establish a fresh benchmark in regenerative agriculture. At the core of the campaign’s objectives lies the seamless integration of drone technology for identifying stressed plants. This empowers farmers with data-driven insights, facilitating informed decisions and the preservation of water resources. Through the deployment of drones equipped with…

The BMW X2, a car that first introduced the vehicle concept of a Sports Activity Coupé (SAC) for the premium compact segment, is now available in South Africa. However, the BMW iX2 will not be offered in South Africa. The new BMW X2 has a distinctive, visually expressive design showing clear differentiation from the brand’s compact Sports Activity Vehicle (SAV), the BMW X1. As such, it is instantly identifiable as a pure-bred Sports Activity Coupé (SAC). Also characteristic of the new model are its dynamically stretched lines and a generous surface treatment. The new BMW X2 has grown by 194…

Intel CEO Pat Gelsinger and special guests will deliver a keynote about the tangible outcomes artificial intelligence can enable for businesses and what the future of enterprise AI looks like. AI represents a paradigm shift in how humans and technology interact, and Intel is at the forefront of expanding the possibilities of AI and creating world-changing technology that improves the lives of every person on the planet. When: 8:30 a.m. PDT Tuesday, April 9, 2024 or 17h30 South Africa Time  Watch the Event by clicking Here

Today Google announced the all-new Find My Device is rolling out to Android devices around the world, starting in the U.S. and Canada. With a new, crowdsourced network of over a billion Android devices, Find My Device can help you find your misplaced Android devices and everyday items quickly and securely. Here are five ways you can try it out. Here are five ways you can try it out. 1. Locate offline devices Locate your compatible Android phone and tablet by ringing them or viewing their location on a map in the app — even when they’re offline. And thanks…

Shoprite, Africa’s largest retailer, has partnered with four of the globe’s premier grocery retailers to create an innovative collaborative venture capital fund known as W23 Global. W23 Global brings together five global grocery leaders, including Ahold Delhaize (US, Europe, Indonesia), Tesco (UK, ROI, Europe), Woolworths Group (Australia, New Zealand), Empire Company Limited/Sobeys Inc. (Canada), and Shoprite Group (Africa) are among the participants. The newly established collaborative retail venture capital (VC) fund aims to invest $125 million over five years in the most promising start-ups and scale-ups worldwide, focusing on revolutionising grocery retail and tackling sustainability issues within the sector. Each…

Pick n Pay has introduced a groundbreaking initiative in affordability and accessibility with the debut of its store-to-store Domestic Money Transfer service. Priced at just R8.00 per transaction, the retailer says it stands as the most economical option available to customers within retail establishments. In a nation where informal cash transactions remain prevalent, this service is designed to seamlessly operate across all Pick n Pay supermarkets, Clothing stores, and Boxer stores in South Africa, encompassing a vast network of over 1400 outlets. The retailer added that its Pick n Pay Money Transfer service prioritises customer convenience with a straightforward registration…

Every government, pretty much every government, is going to want a sovereign cloud,” Oracle chairman and chief technology officer Larry Ellison said on a recent earnings call with Wall Street analysts. Speaking with analysts on the recent earnings call, Ellison said: “Eevery government — pretty much every government is going to want a sovereign cloud and a dedicated region for that government for not only — so, we see a number of countries — you know, it’s funny we talk about, you know, winning business with companies. “For the first time, we’re beginning to win business country — for countries,…

French media group Canal+ has made a mandatory offer to the minority shareholders of JSE-listed broadcaster MultiChoice Group after surpassing a threshold set by the Johannesburg Stock Exchange. The JSE requires an offer to be made to other shareholders on a basis agreed with the main bourse when a person or group acquires at least a 35% stake in a listed company. On February 5, Canal+ Group increased its ownership in MultiChoice from 31.07% to 35.01%, despite a prior rejected takeover offer. However, industry experts have pointed out that the Electronic Communications Act limits foreign ownership of local licensed broadcasters…

National Assembly Speaker Nosiviwe Mapisa-Nqakula has resigned from the post and as member of parliament, but argues that the decision is due to the criminal case against her but not an admission of guilt. The North Gauteng High Court in Pretoria on Tuesday dismissed Mapisa-Nqakula’s bid to have her arrest delayed. Mapisa-Nqakula says this decision was made to dedicate her time to fighting the allegations against her and this is not an admission of guilt. “I have made this conscious decision to dedicate my time and focus to deal with the recently announced investigation against me by our country’s law…

Huawei Cloud’s says continuous investment in innovation has led to its rapid business growth in 2023. By the end of 2023, Huawei Cloud had covered 30 geographical Regions and 84 availability zones (AZs), and provided services for customers in more than 170 countries and region. The revenue for the cloud computing unit grew 21.9 percent year-on-year to 55.3 billion yuan ($7.6 billion) in full year 2023. Within China, Huawei Cloud has been focusing on industry digitalisation scenarios. “We have already supported more than 800 e-Government cloud projects, and have helped more than 160 cities implement the One City, One Cloud…

Amazon today announced the launch of AWS Deadline Cloud, a fully managed service that helps customers set up, deploy, and scale rendering projects in minutes, so they can improve the efficiency of their rendering pipelines and take on more work. With Deadline Cloud, customers creating computer graphics, visual effects (VFX), or innovating their pipelines to incorporate artificial intelligence-generated (AI-generated) visuals can build a cloud-based render farm—aggregated compute—that scales from zero to thousands of compute instances for peak demand, without needing to manage their own infrastructure. Customers can use built-in customisation tools and integrations with digital content creation (DCC) software, such…

In response to a recent mandate from the Takeover Regulation Panel (TRP), instructing Groupe Canal+ SA (Canal+) to extend a mandatory offer to all MultiChoice shareholders, the MultiChoice board has announced significant changes to its leadership structure. These adjustments were communicated through a cautionary SENS notice issued on March 5, 2024. The JSE-listed company said chairman Imtiaz Patel has agreed to extend his tenure to oversee the ongoing Canal+ transaction. The company added that its board underscores the necessity of maintaining continuity during this transitional phase and expresses confidence in Patel’s leadership until the conclusion of the transaction or as…

Charnte Marthinus of Smartview Technology was named the overall winner of the GCIP Awards 2023/24 at an awards ceremony often compared to the Oscars for cleantech industry. The awards ceremony was hely at the Council of Scientific and Industrial Research (CSIR) offices in Pretoria. SmartView Technology is driving sustainability with net-zero digital utility management for businesses. Its SaaS utility management solution is leading the way in providing real-time, actionable insights to drive your ESG initiatives, reduce costs and promote the sustainable use of resources. The company’s solutions are used by major brands such as Heineken, Virgin Active, Pepsico, Grupo Bimbo,…

The South African Government today issued a gazette officially withdrawing e-tolls scheme on various Gauteng roads. Last month, Gauteng Premier Panyaza Lesufi during the State of the Province Address (SOPA) stated that the Gauteng e-toll scheme is expected to be delinked from the end of March this year. Read the Government Gazette below: E-Toll government Gazette E-tolls are a system that was introduced in the province by national government on the basis that we wanted to improve our road network. We have now reached a stage where we all accept that the people of Gauteng have rejected e-tolls. The withdrawal of…

SuperSport United FC and technology partner Huawei have teamed up to unveil the latest additions to the Huawei nova series, introducing the Huawei nova 12i, the Huawei nova 12 SE, and soon, the much-anticipated Huawei nova 12s. This collaboration transcends mere smartphone launches; it’s a call to all South Africans to embrace their inner stars and embody the KeStar philosophy – a message deeply rooted in the unwavering spirit of shaping one’s own destiny. Renowned for its commitment to nurturing young South African football talent and uplifting communities, SuperSport United finds an ideal ally in Huawei . Together, they pave…

In today’s fast-paced business world, keeping ahead of the competition is essential for any company. One game-changer that’s reshaping the landscape is the Internet of Things (IoT). IoT is a network of interrelated devices that connect and exchange data with other IoT devices and the cloud. Since its inception in the early 2000s, IoT has been revolutionising management of supply chains. Today, it’s not merely a trend but a driving force behind advancements in supply chain management. It is one of the fastest-growing segments of the technology industry with roughly $805 billion invested¹ in IoT globally as of 2023. In…

Private equity firm Actis and Royal Bafokeng holds have acquired Telkom’s wholly owned subsidiary, Swiftnet for R6,75 billion. Swiftnet, a key player in the South African market, is renowned for its extensive masts and towers infrastructure, boasting approximately 4000 installations and leasing co-location space to major mobile network operators. The disposal entails the sale of Swiftnet to the purchaser, Towerco Bidco Proprietary Limited, a newly incorporated entity comprising of a consortium of equity investors led and managed by Actis, which holds 70% of the purchaser’s shares; with the balance of 30% held by Royal Bafokeng Holdings. This move underscores Telkom’s…

A new BMW Group Vision Vehicle provides a first glimpse of the Neue Klasse as an SAV: The BMW Vision Neue Klasse X brings the aesthetics, technology, sustainability, and philosophy of the Neue Klasse to the Sports Activity Vehicles sector. The first fully-electric raised derivative on the new architecture will go into series production at Plant Debrecen (Hungary) in 2025. “Together with the BMW Vision Neue Klasse, the BMW Vision Neue Klasse X showcases the breadth of our future BMW model line-up. The Neue Klasse reflects the variety of all the models that customers want today and in the future…

The Financial Sector Conduct Authority (FSCA) has imposed a hefty R475 million administrative fine on Markus Jooste, the former CEO of Steinhoff, for breaching the Financial Markets Act (FMA) in connection to his disclosure of Steinhoff International’s financial status. Following an earlier determination by the FSCA that Markus Jooste violated the FMA and was subject to a R20 million penalty under the Financial Sector Act, the decision and penalty imposed by the FSCA were affirmed by the Financial Services Tribunal. “The investigation found that Jooste and Dirk Schreiber made or published false, misleading, or deceptive statements about Steinhoff International Holdings…

The brakes are being tapped in the used car market in South Africa. In February 2024, sales declined by 1% year-on-year and by 8% month-on-month. While the brakes are far from being slammed, a slight decline in this sector is evident. According to data released by AutoTrader, 28,658 used cars were sold during the month of love. This compares to 28,894 in February 2023 and 30,996 in January 2024. Turning to new vehicle sales, naamsa | The Automotive Business Council reports that the February 2024 new passenger car market – at 28,857 units – registered a decline of 925 cars,…

Co-founders of Inflection Mustafa Suleyman and Karén Simonyan are joining Microsoft to form a new organization called Microsoft AI, focused on advancing Copilot and our other consumer AI products and research. In June 2023, Inflection revealed securing $1.3 billion in funding to develop its vision of ‘more personalised AI,’ with Microsoft as the primary investor. “Today we are also announcing that two of our three co-founders, Mustafa and Karén, will be leaving Inflection to start Microsoft AI, a new division at Microsoft that will bring together their consumer AI efforts, as well as Copilot, Bing and Edge,” Inflection wrote in…

After school, many kids seek solace in TikTok after a day of classes. As a parent one might ask, what could be more exciting and engaging? For Gareth, my son, it was the brand new Volvo XC90 T8 that he saw, for the first time, when he got home from school on Monday. Forget TikTok, homework, and mother’s homemade scrumptious lunch, the only thing on Gareth’s mind was riding in the passenger seat of the Volvo XC90 T8. Not wanting to disappoint the boy, I grabbed the car keys and unlocked the doors. Smiling, Gareth settled into the passenger’s seat.…

Sam Ngumeni has been named the CEO of Woolworths Food, effective from July 1, 2024, succeeding Zyda Rylands, who is set to retire at the end of August 2024. Rylands’ retirement was initially announced on August 3, 2021. Woolworths expressed gratitude to Zyda for her nearly three decades of dedication to the Woolworths Group and her instrumental role in establishing Woolworths Foods as a leading food retailer. As part of Woolworths’ strategic succession plan, Sam Ngumeni, currently serving as the Group Chief Operating Officer, will assume the role of CEO of Woolworths Foods. Ngumeni brings over 28 years of experience…

The Financial Sector Conduct Authority (FSCA) wants to tell you about something important. There’s a person named Jacobus Stephanus Geldenhuis who’s been up to no good. The FSCA has been talking about this since October 2022 and even more recently in December 2023. Here’s the deal: Geldenhuis and a company called Classic Financial Services did some bad stuff. They broke laws that are meant to keep your money safe. They pretended to be a bank and tricked people into giving them money. Instead of investing it properly, they used it for themselves, like in a Ponzi scheme. As a result,…