Author: Gugu Lourie

President Donald Trump signed an executive order on Monday, granting TikTok an additional 75 days before a law banning the popular video-sharing platform takes effect. The move comes as the administration seeks to carefully evaluate the next steps in addressing national security concerns while avoiding a sudden disruption for millions of American users. In the order, President Trump instructed the Attorney General to refrain from enforcing the ban, allowing his administration time to “determine the appropriate course forward in an orderly way that protects national security while avoiding an abrupt shutdown of a communications platform used by millions of Americans.”…

Hudaco has entered into an agreement with Insulation Advanced Technologies, Isotec Balancing, Isomec, and Moholi Supplies, collectively referred to as Isotec, to acquire its trading assets and liabilities. The acquisition price will be based on a multiple of Isotec’s average annual profit after tax over the three years following the effective date, with a maximum consideration of R709 million. Hudaco will fund the acquisition using internally generated cash, existing financial facilities, and, if necessary, new financing. An initial amount between R250 million and R287 million will be payable in cash on the effective date, while three additional tranches will be…

Airtel Africa, a telecommunications and mobile money provider across 14 African countries, has teamed up with three internationally acclaimed African artistes – Fally Ipupa (Democratic Republic of Congo), Diamond Platnumz (Tanzania), and Simi (Nigeria). This partnership aims to help customers maximise their digital experience by making smarter use of their data bundles. As part of this collaboration, the artistes have worked with Airtel Africa to create a special song that provides practical tips and tools for optimizing data usage. Whether for browsing, streaming, or accessing essential apps, the initiative is designed to help customers make informed decisions about their data…

Used car sales dipped in December, but new car sales showed promising year-on-year growth. Here’s how South Africa’s automotive market performed last month. Following a strong performance in November 2024, new and used car sales experienced a seasonal slowdown in December. While December is typically one of the weakest months for car sales, used car sales remained steady year-on-year. Notably, new vehicle sales increased, reflecting sustained positive sentiment among buyers. The latest industry data from AutoTrader reveals a decline in used car sales compared to the strong performance recorded in November. In December, 26,424 used vehicles were sold, marking a -17.8% month-on-month…

A recent working paper by the South African Reserve Bank (SARB) sheds light on how agency banking could be a game-changer in the quest to enhance financial inclusion. Authored by Lwanga Elizabeth Nanziri and Paul Terna Gbahabo, the study emphasises the critical role of agency banking in overcoming barriers to financial services, particularly for underserved populations. Agency banking leverages partnerships between traditional financial institutions and non-financial outlets such as retail stores, supermarkets, and post offices to deliver banking services to the underserved. In South Africa, this model is a preferred distribution channel after ATMs, with key players like Absa partnering…

Intel Corporation announced plans to separate Intel Capital, its global venture capital arm, into an independent fund. This move aims to align Intel Capital’s structure with other leading venture firms, granting it greater autonomy and the flexibility to attract external investors. Intel will remain a key investor in the new entity. Intel Capital will operate under a new name following the separation. Standalone operations are expected to begin in the second half of 2025, and we are committed to keeping you informed of our progress along the way. “The separation of Intel Capital is a win-win scenario as it provides…

The Financial Sector Conduct Authority (FSCA) has cautioned the public against conducting financial services business with Gold Earnings Hub and Africa Gold Capital. The FSCA suspects these entities of operating without proper authorization, offering investments with implausible returns of 46% on amounts ranging from R2,000 to R100,000. Fraudulent activity and impersonation Gold Earnings and Africa Gold have been linked to fraudulent activities, including using deep fake videos featuring Dr. Patrice Motsepe, Executive Chairman of African Rainbow Minerals Ltd (ARM). These videos falsely portray Dr. Motsepe endorsing their investment schemes. ARM has confirmed that neither the company nor Dr. Motsepe has…

The Awareness Company (TACo), a South African SaaS startup that transforms business data into actionable insights for operations and sustainability, has secured $1.6 million in seed funding. The round included participation from NEXT176, Holocene, Catalyst Fund, E Squared, Aions, and Jozi Angels. “This funding marks a significant milestone for us as we continue to innovate in the operational sustainability space. With our new investors, our support has grown and there is belief in our vision by people who want to push boundaries. This is just the start,” said Priaash Ramadeen, Co-founder and CEO of The Awareness Company. The investment will…

South Africa’s digital platform economy holds immense potential for economic transformation, with projections estimating it could contribute R91.4 billion to the country’s GDP by 2035. According to a joint study by Naspers and the Mapungubwe Institute for Strategic Reflection (MISTRA), the sector’s GDP share could expand from 0.02% in 2022 to 1.38% by 2035, underlining its transformative capacity. This untapped potential, particularly in underserved areas like townships and villages, presents a unique opportunity for innovation. Below are five remarkable entrepreneurs harnessing digital platforms to empower communities, transform lives, and drive inclusive growth in South Africa. 1. Talifhani Banks – CEO…

Microsoft is set to make a monumental investment of $80 billion (R1.5 trillion) in its 2025 financial year, focusing on building advanced data centres to support artificial intelligence (AI) development and the deployment of AI-powered and cloud-based applications. This announcement was made in a blog post by Brad Smith, Microsoft’s Vice Chair and President, on Friday. “In FY 2025, Microsoft is on track to invest approximately $80 billion to build out AI-enabled data centers to train AI models and deploy AI and cloud-based applications around the world,” said Smith. He emphasised that over half of this investment will be directed…