Author: Gugu Lourie

Volvo Car South Africa has confirmed that the new fully electric EX30 is well on its way to local shores, with the country’s first allocation of units already on the water. Scheduled to launch locally in the opening quarter of 2024, the highly anticipated EX30 will touch down as one of the most affordable electric vehicles (EVs) on the market, with the five-strong line-up bearing a starting price of R775 900. As of September 2023, more than 150 pre-orders for the small Swedish luxury SUV had already been placed. Greg Maruszewski, Managing Director at Volvo Car South Africa, says the fact…

In a groundbreaking initiative, TymeBank has successfully facilitated the disbursement of an astounding R200 million in previously unclaimed benefits from the Motor Industry Retirement Fund (MIRF). The Motor Industry Fund Administrators (MIFA), entrusted with managing retirement funds on behalf of MIRF beneficiaries, played a pivotal role in this endeavour. TymeBank’s innovative approach to payments, fueled by its advanced technology and the introduction of the Pay2ID solution, allowed for the secure and efficient transfer of funds. Lihle Khoza, CEO of MIFA, says: “When MIFA approached TymeBank to explore this initiative, the team at TymeBank readily welcomed our mission and has been…

Over the past few years, social media has experienced exponential growth. As South African consumers dedicate an increasing amount of their daily routine to social platforms, retailers are actively seeking ways to engage with them. Notably, the surge in Black Friday media spending across Sub-Saharan Africa’s prominent social channels, has been noteworthy in recent times. In 2022, the digital media investment for Black Friday in Sub-Saharan Africa witnessed a substantial 60% increase. We conducted an interview with Stephen Newton, the Managing Director of Aleph, who acts as a representative for companies in Sub-Saharan Africa, including X, TikTok, Snapchat, and Spotify in order…

This month’s used car sales story is – in large part – about KIA. In November, AutoTrader’s used car sales data shows that KIA was the brand among the ten best-selling brands to post the highest positive sales growth. And among the ten best-selling models, the KIA Picanto also experienced the highest growth in sales. The KIA brand posted a 25% increase in used car sales over the previous month, while its KIA Picanto model boasted a 20.8% month-on-month sales growth. The KIA Picanto is knocking on the door of the most sold variant ranking too. While not among the five top-selling variants in…

South African VAT vendors should familiarise themselves with SARS’s recently launched automated VAT assessment system. SARS’ notice, which was issued on 11 December 2023 provides that the new system will automatically issue assessments for those who fail to submit necessary verification documents timeously. Most notably, corrections will not be allowed for the same period once an automated VAT assessment is issued. Zulfah Mullins, tax compliance officer at Hobbs Sinclair highlights the significance of this update for VAT vendors. Key points include: Estimated assessments will be issued if vendors fail to submit necessary documents during verification. Corrections for the same period…

While new car sales in South Africa remain under pressure – and, depending on December sales, may not return to pre-pandemic levels this year – the used car market certainly isn’t in the doldrums. According to the used car sales data supplied by AutoTrader, a total of 32,300 used cars moved through AutoTraders platform in November 2023, a 6.6% increase over the 30,286 cars sold in November 2022¹. In stark comparison, according to naamsa | The Automotive Business Council, 29,384 new passenger cars were sold in South Africa during November 2023 – a significant decline of 4,052 cars – or a…

Momentum Metropolitan Holdings has promoted Ravikumaran Govender as Group Chief Digital and Technology Officer (CDTO), effective 1 January 2024. He makes the move from his current role as Momentum Metropolitan Group Digital Transformation Executive. With over 15 years of service in the financial services and consulting industries, Govender presents an impressive scope of experience and innovative thinking applicable to his new role. His focus will be on making sure all the Group’s digital activities and innovations are aligned with market needs and opportunities, while making sure the operations are in sync across all businesses in the Group. Govender holds various leadership…

These days, most of us live increasingly connected lives. While it’s perhaps worth considering “unplugging” – that is, refraining from using your digital devices – for at least part of the upcoming holidays, there’s one time you most certainly should not be without the ability to communicate via such technology.Yes, we’re talking about the humble road trip. During any lengthy journey via South Africa’s highways and byways, it’s important you remain connected and able to reach out should you require some sort of assistance or maybe even just for some entertainment. So, what steps should you take to ensure your vehicle is…

The Eskom Board is delighted to declare the selection of Dan Marokane as the incoming Group Chief Executive of Eskom. Marokane, a certified Chemical Engineer with an MBA, brings over two decades of executive expertise to the role. He is scheduled to assume his position at Eskom by no later than March 31, 2024. Marokane returns to Eskom after he and three other senior executives were suspended following an ethical stand they took against state capture, fraud and corruption.  He has experience working in distressed organisations with visible and pressurised turnaround mandates. His recent assignment is at Tongaat-Hulett where he…

Dr. Bongani Mabaso, the CEO of the State IT Agency (Sita), has tendered his resignation, leaving the agency, which has previously been marred by corruption issues. SITA board said in a statement that it has accepted a request from the Managing Director, Dr . Bongani Mabaso, to be released early from his employment contract with the company. Dr Mabaso joined the company on 01 April 2023 and was on a fixed term contract for five years. SITA said he indicated the desire to pursue interests elsewhere, aligned with his career direction and growth. “The Board respects the choice and decision…

BestAgent today announced it has close to 800 estate agents registered on its platform that help consumers select top estate agents. The platform was developed to enable South African consumers to make informed decisions when selecting estate agents. “Our platform is a game-changer for anyone navigating the real estate market,” explains Van Niekerk, CEO of BestAgent. “We provide a transparent and reliable way for both buyers and sellers to identify the best-suited estate agents in their desired areas. The idea for Best Agent was born during the March lockdown in 2020. One year later, Koole turned the idea into a…

Yassir is set to become available to Uber Eats users across multiple locations in Gauteng, with a national rollout anticipated early next year. The integration of Yassir stores into the Uber Eats app will grant customers convenient access to a diverse array of grocery options for swift delivery. This strategic move aligns seamlessly with Yassir’s dedication to broadening its offerings and cultivating strategic relationships. At the forefront of its collaboration with Uber Eats, Yassir is unwaveringly committed to furnishing consumers with an extensive selection of goods and services, including fresh groceries, convenience items, personal care products, pet food, and more—all…

African Rainbow Capital Investments announced today that Tyme is on the verge of concluding its Series C Capital raise. The funding round, which involves both existing and new shareholders, is set to propel Tyme, encompassing local digital bank TymeBank and the Philippines-based digital bank GoTyme, to new heights. African Rainbow Capital Investments also disclosed that Tyme, inclusive of TymeBank and GoTyme, boasts an annual revenue run rate exceeding R1.8 billion for TymeBank and R100 million for GoTyme. The business is experiencing rapid growth in its two key markets – South Africa and the Philippines – acquiring an impressive 450,000 new…

Increasingly, South Africans are opting for Suzuki vehicles. In November, the Japanese automaker achieved a sales milestone, with 4,381 vehicles sold, marking a 2% growth compared to November 2022. This stands in contrast to the general vehicle market, which experienced a 13.4% decline in the same month. More importantly perhaps, was the massive jump in dealer sales. Of its total vehicle sales, the Suzuki dealer network sold 3 947 units. This is a new record in South Africa, and it beats the previous record of 3 857 sales, set by Suzuki dealers a mere 30 days ago. This is the…

Elon Musk is currently pursuing $1 billion or R18.9 billion in funding for his upcoming venture, xAI, which is an artificial intelligence (AI) company. As per an SEC filing, Elon Musk has secured about $135 million or R2.6 billion from four undisclosed investors. The initial transaction took place on November 29. This indicates that he still needs to raise approximately $865 million to reach his target of $1 billion. Up to this point, xAI is developing Grok, Elon Musk’s response to platforms such as OpenAI’s ChatGPT, Google’s Bard. Grok is an AI modeled after the Hitchhiker’s Guide to the Galaxy,…

Airtel Africa has officially launched Nxtra by Airtel (Nxtra), a new venture dedicated to addressing the escalating demand for reliable and sustainable data center capacity across the continent. Nxtra’s primary goal is to cater to the burgeoning digital economy in Africa by establishing a robust network of data centres strategically positioned in major cities within Airtel Africa’s operational reach. With aspirations to create one of the largest data centres networks in Africa, Nxtra plans to deploy high-capacity facilities in key urban centers, complementing its existing edge sites. This ambitious initiative aims to meet the evolving requirements of African enterprises, featuring…

Ofcom, the regulatory body overseeing the Internet in the United Kingdom, has released preliminary guidelines outlining the measures that adult content websites must adopt to comply with recently enacted stringent legal mandates aimed at preventing children from accessing explicit material. The new age-check guidance are set to be protectt children from accessing online pornography. Latest research[1] shows that the average age at which children first see online pornography is 13 – although nearly a quarter come across it by age 11 (27%), and one in ten as young as 9 (10%). Additionally, nearly 8 in 10 youngsters (79%) have encountered violent…

Two weeks ago, Telkom revealed its plan to sell its masts and towers business, Swiftnet. The giant telco said it has entered an exclusivity period with a preferred bidder, a consortium led by a reputable private equity firm with black economic empowerment backing.  Simultaneously, African Rainbow Capital (ARC) – empowerment investment company – announced plans to raise R750 million through a rights offer.  The purpose of the rights offer is to raise additional capital for ARC Investment to invest in ARC Fund. This private equity fund focuses on market expansions for Rain and the growth of digital bank Tyme. Rain…

Sungrow introduces smart energy solutions that resonate with the daily experiences of households grappling with load shedding. Real-life stories from South African users highlight the tangible impact of Sungrow’s residential solution on overcoming the hurdles of power disruptions. Championing Energy Independence in South Africa Sungrow’s commitment to providing a reliable power supply aligns seamlessly with the aspirations of South Africans facing the frustration of load shedding. Users from various regions share heartfelt experiences of reclaiming control over their energy destiny, transforming load shedding challenges into opportunities for energy independence. Key Features Rooted in Real South African Experiences: Fast Charge: In the…

South Africa’s telecommunications regulatory authority, ICASA, has issued a warning, declaring the utilization or facilitation of access to SpaceX’s Starlink services in the country as illegal. ICASA has expressed disapproval towards companies that have allegedly been involved in importing and selling Starlink satellite internet terminals within South Africa. The Independent Communications Authority of South Africa (Icasa) issued its warning through an official notice published in the Government Gazette on Tuesday. Icasa emphasised on Wednesday that Starlink, the internet satellite fleet in low Earth orbit overseen by Elon Musk’s SpaceX, lacks the necessary license to operate in South Africa. The reason…

JSE-listed retailer Pepkor announced on Wednesday that Pep ,which is synonymous with quality clothing at discount prices, sold eight million cellular handsets during the year, 50% of which were smartphones. The retailer said the growth in consumer demand for smartphones exceeded product availability in certain smartphone product lines. With the aim of making smartphones affordable for customers, a cellular handset rental product was developed and is being tested in 180 stores. “To date, 120 000 cellular rentals have been provided through both the group’s internally developed capability and third parties,” said Pepkor. The company added that Pep achieved very pleasing…

Anker Innovations, a global frontrunner in consumer electronics and technology, today announced a dynamic new collaboration with Tudortech, a distinguished distributor in South Africa. This partnership signifies a pivotal move in Anker’s strategic expansion within the South African market, representing a noteworthy milestone for the company. Faraz Ahmed, General Manager MEA & South Asia at Anker Innovations, expressed enthusiasm about the partnership, saying, “We are thrilled to join forces with Tudortech to expand our presence in South Africa. This partnership represents a significant step forward for Anker Innovations as we bring our innovative charging products closer to South African consumers.…

The Smart Africa Alliance has entered into a Memorandum of Understanding (MOU) with Bayobab and Africa50 to provide regulatory and policy support for Project East to West. Project East to West is dedicated to connecting landlocked African nations through an expansive terrestrial fiber optic network. This collaboration underscores the significance of pan-African cooperation in building telecommunication highways, crucial for addressing the growing demand and requirement for affordable connectivity solutions across Africa. Frédéric Schepens, Bayobab Group CEO shares, “We are thrilled to join hands with the Smart Africa Alliance on Project East to West. This collaborative endeavour signifies the power of pan-African…

Black investors participating in YeboYethu, the black economic empowerment initiative of Vodacom SA, are poised to receive dividends exceeding R48.7 million. Established in 2008, the Vodacom YeboYethu empowerment programme enabled black individuals to acquire discounted Vodacom SA shares. It’s important to note that YeboYethu holds no ownership, beneficial interests, or rights to Vodacom Group shares. For the six months ending on September 30, 2023, YeboYethu received a dividend of R377.7 million from Vodacom, prompting the empowerment company to declare an interim dividend of 92 cents per share. Also read: R74 Million in Dividends Unclaimed in Vodacom’s YeboYethu YeboYethu, the broad-based…

Brace your credit card; Black Friday is coming! It represents a massive opportunity for small to medium-sized businesses to compete with larger retailers, as shoppers take to the internet en masse to find the best possible deals. But those deals will only happen if one thing is firmly in place: trust. According to a recent PwC consumer spending trends report¹, 40% of consumers are open to buying directly from a brand’s website. But, a recent report² by The University of Pretoria points out that trust is one of the single most important factors when trading online. So, how do small to medium-sized businesses…