Author: Gugu Lourie

The U.K government allocates over £100 million to support regulators and advance research and innovation on AI, including Hubs in healthcare and chemical discovery. This is part of the Department for Science, Innovation and Technology (DSIT) response to the AI Regulation White Paper . It comes as £10 million is announced to prepare and upskill regulators to address the risks and harness the opportunities of this defining technology. The fund will help regulators develop cutting-edge research and practical tools to monitor and address risks and opportunities in their sectors, from telecoms and healthcare to finance and education. For example, this might…

Balwin Properties today informed investors that Ulrich Gschnaidtner has stepped down from his position as the Chief Projects Officer to explore new opportunities in Australia. Gschnaidtner will fulfill his duties until August 30, 2024, the company said. Having joined Balwin in 1997 to oversee project operations, Gschnaidtner has played a pivotal role in the company’s growth over the past 27 years, added the company. The board expresses its gratitude to Ulrich for his significant contributions throughout the years and extends best wishes for his future endeavours. Ulrich held management positions at Spie Batignolles and Bovis Southern Africa before joining Balwin…

Amidst mounting challenges facing South Africa’s mining sector, President Cyril Ramaphosa has underscored the pressing issues gripping the industry. Highlighting the domestic energy crisis and logistical bottlenecks plaguing ports and railways, he emphasised the significant strain on miners’ operational expenses. Moreover, the pervasive threats of illicit mining, cable theft, and infrastructure vandalism compound the challenges, exacerbating the strain on mining output and returns. In response to these formidable obstacles, Ramaphosa has rallied a call to action, urging collective effort and determination to navigate through these turbulent times. As the industry braces itself for the road ahead, collaboration emerges as the…

Canal+ Group from France has increased its ownership in MultiChoice from 31.07% to 35.01%, despite a prior rejected takeover offer. According to section 122(3)(b) of the Companies Act, 71 of 2008, regulation 121(2)(b) of the Companies Regulations, 2011, and paragraph 3.83(b) of the JSE Limited Listings Requirements, MultiChoice shareholders are formally notified of this development. MultiChoice has duly filed notices with the Takeover Regulation Panel (TRP) and the Companies and Intellectual Property Commission, as per sections 122(3)(a) and 122(3A) of the Act, respectively. Moreover, MultiChoice has requested the TRP to adjudicate on the necessity of a mandatory offer to all…

Africa’s pay-TV operator MultiChoice, has firmly rebuffed a non-binding acquisition proposal from Group Canal+ SA (“Canal+”) at a proposed price of R105 per share in cash. Shareholders were informed of this through a cautionary announcement released on SENS on 1 February 2024. The proposal, which arrived after extensive discussions between Canal+ and MultiChoice spanning over a year, was met with deliberation by the MultiChoice board. Despite Canal+’s public assertions regarding the potential advantages of a combined entity, MultiChoice said the board concluded that the offer significantly undervalues MultiChoice and its future prospects. Key points considered by the Board include: Valuation…

In a bold move echoing the authority’s commitment to financial integrity, the Financial Sector Conduct Authority (FSCA) recently wielded its regulatory hammer, imposing a hefty administrative sanction of R400,000 on Theuns Vosloo Financial Advisory Services CC (TVFAS). The penalty, a consequence of non-compliance with critical provisions of the Financial Intelligence Centre Act, No. 38 of 2001 (FIC Act), sends shockwaves through the financial advisory sphere. The FSCA’s investigation uncovered a series of lapses within TVFAS’s operations, highlighting systemic failures to adhere to the stringent requirements mandated by the FIC Act. Among the findings, the FSCA cited TVFAS’s inadequacies in developing…

South Africa is facing a looming retirement crisis, as only 6% of the population is projected to retire comfortably, according to the sixth edition of the 10X Investments Retirement Reality Report 2023/2024, The findings of the 2023 Brand Atlas Survey form the basis of the report. Brand Atlas monitors and assesses the lifestyles of approximately 15.4 million economically active South Africans. These individuals are defined as those residing in households with a monthly income exceeding R6,000, aged 16 or older, and possessing internet access for online survey completion. This year’s survey indicates minimal change in South Africans’ propensity or capacity…

The Minister of Employment and Labour, Thulas Nxesi, has reissued draft regulations for sector-specific targets, granting interested parties a 90-day period to provide feedback on the proposals (reissued regulations focusing on employment equity targets). On Friday, May 12, 2023, the Minister released draft five-year sectoral numerical targets for the identified national economic sectors, providing interested parties with a 30-day window to submit comments. Following the publication and the conclusion of the 30-day comment period, there was significant feedback on the draft numerical targets. In a legal note written by Cliffe Dekker Hofmeyer, the group clarified that on the face of…

In a significant milestone for telecommunications giant Vodacom Group, which includes Safaricom among its key subsidiaries, the company has achieved a historic milestone by surpassing 200 million customers. This remarkable feat, as announced by CEO Shameel Joosub, marks a doubling of its customer base since 2018 when it reached the notable 100 million mark. In this article, we delve into the factors driving Vodacom’s expansive growth and the implications of this achievement in the dynamic landscape of global telecommunications. “As a purpose-led company, the transformational impact we have on our customers and the economies in countries where we operate provides…

Telkom has introduced its February 2024 Big Deal, ensuring seamless surfing, streaming, and connectivity even into the late hours. Telkom’s exclusive NIGHTTIME data doesn’t stop until 7AM, ensuring you have data to binge-watch your favourite shows, catch up with friends, or work on those late-night projects without any worries. The LTE Data Plan offers 80GB data a month. The deal includes the following: 40GB Anytime data 40GB Night Surfer data A R99 Once-Off SIM and Connection fee Customer has an option to add a router for additional fee on the February big deal All the allocated Inclusive data are available…

MultiChoice and Comcast, the US-based parent of NBCUniversal and the UK’s Sky,) to  invest a combined total of $177 million (R3.3 billion) into Showmax during this financial year. MultiChoice is reintroducing its streaming platform, Showmax, which has been developed in collaboration with Comcast, a global broadcasting powerhouse and a direct competitor of Canal+, with its US-based parent company NBCUniversal and the UK’s Sky. Comcast has already acquired a 30% stake in Showmax, a video streaming service. MultiChoice belives that the new partnership brings some of the world’s best content and technology to streaming customers across its footprint in sub-Saharan Africa.…

Canal+ Group from France, having steadily acquired a notable stake in the JSE-listed MultiChoice Group over recent years, is currently advancing to assume control of the South African pay-television conglomerate. However, the deal must maneuver through stringent South African media ownership regulations to gain approval. Canal+ announced on Thursday that is expects to offer R105 per share for MultiChoice, or a 40% premium to the closing price on 31 January 2024. The French compamy already owns 31.7% of MultiChoice’s shares. Canal+ Group’s move to take control of MultiChoice Group in South Africa reflects its strategic expansion into the African pay-television…

KFC wants to take you into the world of virtual reality gaming at its new store in Braam. You might have seen stores like this before—they’re all about trying new things and bringing brands into the modern age. That’s exactly what KFC Africa is doing with its brand-new store in Joburg’s Play Braamfontein area. KFC Play Braam at 73 Juta Street is more than just a place to shop—it’s also a hub of creativity and innovation for the brand. It’s where new ideas come to life right before your eyes, covering everything from delicious food to trendy fashion, friendly service…

Checkers Sixty60, the leading grocery delivery app in South Africa, continues to capture the admiration of its online customers. The online shopping platform and rapid delivery service, operated by Shoprite, witnessed a remarkable surge of 63.1% in online sales during the initial half of the year. Since its launch in November 2019, Sixty60 has spearheaded on-demand grocery delivery in South Africa. Distinguished by its promise of delivering orders within 60 minutes for a nominal fee of R35, Checkers Sixty60 stands out as the nation’s preferred on-demand grocery delivery service. Boasting over 3.1 million downloads, the app now extends its services…

RMB has joined forces with the well-established South African-owned Independent Power Producer (IPP), SOLA Group (SOLA), to secure a substantial R2.8 billion debt and equity package. This financial endeavor aims to support the development of a pioneering 150MW multi-offtake Solar PV Project situated near Virginia in the Free State region. The initiative marks a pioneering step in South Africa’s energy landscape as it pioneers one of the country’s inaugural multi-buyer programmes. Anticipated to achieve commercial operations by mid-2025, the project operates under several power purchase agreements (PPAs). Notably, it stands as one of the largest Solar PV installations in the…

Telkom and SAPS have secured hundreds of convictions for cable theft, helping to turn the tide on infrastructure vandalism. As part of this joint effort, Telkom has helped to win convictions for cable theft and infrastructure vandalism at various operations across the country, in terms of its Telkom Group Security Strategy of effective security governance, and agile and responsive security risk management. The Telkom Security and Investigation Team has managed to significantly reduce infrastructure-related crime at Telkom facilities. The community has also played a significant role through tip-offs to police and Telkom reporting hotlines. “Our partnerships made it possible to achieve great results, helping to turn the tide against crime,” says…

JLR South Africa has officially announced the availability of the New Range Rover Velar and the New Range Rover Evoque for ordering. Representing the epitome of contemporary luxury, the New Range Rover Velar boasts cutting-edge technology, quintessential Range Rover elegance, and a strikingly sleek and minimalist design. Its updated grille harmonises with the iconic floating roof, seamless waistline, and sleek deployable door handles that distinguish the world’s most coveted luxury SUV range. Similarly, the New Range Rover Evoque exudes charm and sophistication with its minimalist design, enhanced by state-of-the-art technologies and opulent material selections tailored for discerning modern luxury enthusiasts.…

In response to the pressing needs of South Africa’s digital economy, the Independent Communications Authority of South Africa (ICASA) is currently deliberating a potential regulatory relief amidst the challenges of load shedding. This initiative holds particular significance for the Information and Communications Technology (ICT) sector, a cornerstone of the nation’s digital infrastructure and economic progress. A plan to conduct a survey on the impact of load-shedding on the ICT sector has been met with enthusiasm by telecom giants who say they won’t hold back on their horror stories, reports Sunday Times. In recent years, mobile operators, notably MTN and Vodacom,…

Vodacom, with a market value of R208 billion on the JSE, operates as a purpose-driven African connectivity, digital, and FinTech provider, alongside Safaricom. With a customer base of 185.8 million spanning consumer and enterprise sectors, Vodacom, owned by the UK-based Vodafone, oversees several companies that may surprise you. Mezzanine Vodacom’s “tech for good” platforms help diversify its revenues and drive societal benefit. The company actively contribute to creating a digital society by developing solutions across critical verticals, including agriculture, education and healthcare. Mezzanine, a Vodacom subsidiary, is a key enabler of its “tech for good” solutions in these industries, partnering…

The South African Police Service (SAPS) commemorated this year’s National Police Day by rallying support for the children of fallen police officers, standing firm in their duty. “On National Police Day, we honor the sacrifices of our men and women in blue, who courageously safeguard South Africa,” said General Bheki Cele. Cabinet designated 27 January as National Police Day in 2005, a tribute to those who serve. In the past four years alone, SAPS mourns the loss of 140 officers who perished while serving, many of whom were the main providers for their families. On Thursday, 25 January 2024, over…

South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the bank’s Monetary Policy Committee (MPC) has unanimously agreed to keep repurchase rate (repo rate) at 8.25%. Kganyago announced this at a press briefing on Thursday afternoon. “At the current repurchase rate level, policy is restrictive, consistent with the inflation outlook and the need to address rising inflation expectations. Serious upside risks to the inflation trajectory from global and domestic sources are evident and… the economic outlook is highly uncertain. “The inflation and repo rate projections from the updated QPM [Quarterly Projection Model] remain a broad policy guide, changing…

Eskom has declared a temporary suspension of load-shedding for a duration of five hours on Wednesday, January 24, 2024, owing to the availability of ample generation capacity. Commencing with stage 1 load-shedding in the morning, Eskom will refrain from power cuts between 11:00 and 16:00. Subsequently, the power utility will initiate stage 2 load-shedding, which will continue until 05:00 on Thursday, January 25, 2024. Resuming stage 1 load-shedding, Eskom will implement power cuts from 05:00 to 16:00 on Thursday. Eskom has indicated its intention to issue an update regarding the load-shedding schedule on Thursday afternoon following this period.

Eskom is spearheading a transformative journey for the residents of Clarens, propelling the picturesque art town towards a new era as a smart town. Through the strategic implementation of load curtailment, Eskom is playing a pivotal role in reshaping the community’s energy landscape. This innovative approach not only addresses energy efficiency but also marks a significant step in the evolution of Clarens, blending its artistic charm with cutting-edge technology for a sustainable and forward-looking future. For the residents of a tiny town that depends on an economic inflow from tourists visiting their small businesses mostly over weekends and holidays, power…

Embarking on a new era of entertainment, MTN today introduced a lineup of Showmax streaming deals. Brace yourself for a thrilling journey into the world of limitless content, sparking excitement and joy, all starting at just R19/week. The deals are available from 12 February 2024. First up is the Showmax Premier League LivePass, which will offer MTN customers live-streaming access to all 380 matches via Showmax’s brand-new Showmax Premier League plan for mobile. For just R79 per month the offer includes sufficient streaming data to watch all live matches. Subscribers will also have access to additional Premier League content like…

Gauteng Premier Panyaza Lesufi unveiled a R560 million bursary fund to support the educational pursuits of over 4000 high-achieving matriculants from no-fee schools and institutions catering to learners with special needs in the Gauteng region.  The fund, administered by the Gauteng City Region Academy (GCRA), aims to eliminate financial barriers and nurture the academic potential of these students. Addressing the packed auditorium at Vodaworld in Midrand, Premier Lesufi commended the learners, saying, “I didn’t invite you here; you invited yourself with your marks.” Emphasising the uniqueness of the GCRA Bursary, he declared, “A bursary that does not have any limits,…