Author: Gugu Lourie

Mama Money Financial Services, a fintech specialising in affordable money transfers, has introduced the Mama Money Card, allowing users to manage their accounts and finances via WhatsApp. This offering, in collaboration with Access Bank and Pick n Pay, aims to address barriers to traditional banking services faced by millions in South Africa. With the Mama Money Card, customers can easily perform key banking tasks such as buying airtime or electricity, depositing cash, checking balances, and freezing the card if lost or stolen: all through WhatsApp. The card also enables online shopping, in-store swiping, ATM withdrawals, and international money transfers to…

Telkom, a JSE-listed South African digital infrastructure company, has reported robust financial results for the six months ended September 30, 2024, emphasisisng its position as the backbone of the country’s digital future. The group achieved a 1.9% revenue increase to R21.4 billion, driven by exceptional performance in data services. Mobile data revenue surged by 12.7%, and fibre data services rose by 15.5%, reflecting the success of Telkom’s data-led strategy. Adjusted EBITDA (excluding restructuring costs and a Telkom Retirement Fund derecognition loss) jumped by 18.3% to R5.6 billion, with the EBITDA margin improving to 26.2%, a 3.6 percentage-point increase. Telkom’s financial…

Telkom is setting its sights on significant growth in both private and public sectors, with a particular focus on becoming a digital transformation leader for large enterprises and government initiatives, according to Simo Mkhize, Chief Commercial Officer at Telkom Consumer. Speaking on the sidelines of Africa Tech Festival 2024 in Cape Town, Mkhize shared Telkom’s strategic outlook, emphasising their ambitions to grow into new markets and play a pivotal role in South Africa’s digital transformation. “We see ourselves as having a massive opportunity to grow in the large enterprise space, both in the private and public sectors,” Mkhize told TechFinancials.…

At the Africa Tech Festival 2024 in Cape Town, Simo Mkhize, Telkom’s Chief Commercial Officer, shared his insights on how the telecom group has transformed into a broadband player by capitalising on its data-focused infrastructure, affordable devices, and innovative AI-driven strategies. Reflecting on Telkom’s pivotal shift in the past decade, Mkhize explained how the company’s network was built for the data-driven era, setting it apart from its competitors. “At the turn of the decade, when 8ta became Telkom Mobile, it marked the beginning of data taking over as the dominant mode of communication and consumption,” said Mkhize. “We positioned ourselves…

Cape Town has long been a poster child for South African tourism. By any measure, the metropolis is a beautiful city with impressive mountains, pristine beaches, and the charm of its vibrant neighbourhoods.  But that’s only one side of the picture.  Away from the famed tourist attractions, the city holds a different story for some.  While on a recent visit to the “Mother City”, my colleagues and I had a memorable encounter at the Taj Cape Town Whiskey Lounge that gave the narrative sharp relief. We met an advertising executive from Germany with a rather grim perspective on Cape Town.…

Swiggy, India’s pioneering on-demand convenience platform backed by Prosus, has today listed on the National and Bombay Stock Exchanges of India (NSE and BSE), valuing the company at $11.3 billion. Prosus sold shares worth more than US$500 million as part of the IPO. Prosus has been a cornerstone investor in Swiggy since 2017. Following the IPO, Prosus holds a c25%1 stake and maintains its two seats on the Board. “Everyone at Prosus extends huge congratulations to the Swiggy team on today’s IPO. We have supported the management team since our first investment in 2017 and have seen the company flourish…

At the Africa Tech Festival 2024, Mohamed Madkour, Huawei’s vice-president of ICT strategy and marketing, highlighted key priorities for Africa’s continued digital advancement. Since his first visit to the event in 2016, Madkour noted Africa’s impressive progress in broadband and digital services, which he described as the “two wings for Africa to kick off and fly.” However, he urged Africa to expand its focus beyond these foundational elements, identifying “intelligent connectivity” and “transformation” as critical to the continent’s future. “Today, everything around us is centred on transformation and inspired by intelligence, built on a solid layer of connectivity,” Madkour explained,…

Digital wallets are emerging as a transformative force, poised to reshape the way businesses interact with their customers. These digital payment platforms are not only streamlining transactions but also unlocking a wealth of opportunities for organisations looking to out-innovate the competition. But banks and businesses must be wary of interoperability challenges and the risk of vendor lock-in if they hope to benefit from the inevitable market consolidation that is coming. Digital wallets are enjoying robust growth. Worldpay, Global Payments Report 2024, estimates that digital wallets will account for 61% of ecommerce payments and 46% of point of sale payments worldwide by 2027.…

Cape Town, AfricaTech Festival — Eswatini Posts and Telecoms Corporation (EPTC), led by Group Managing Director Themba Khumalo, has issued a call for international fibre and technology partners to help drive the nation’s ambitious connectivity agenda. As the Kingdom of Eswatini advances its digital capabilities, EPTC is focused on expanding its broadband infrastructure and enhancing service quality for both urban and rural communities. EPTC, originally a copper-based carrier, has leveraged national broadband goals, optimised resources, adopted cutting-edge technologies, and embraced generational advancements to transform their network. “We are open for business,” Khumalo stated, emphasising EPTC’s readiness to collaborate with global technology partners.…

Volvo Car South Africa has solidified its position as the top choice in the local electric vehicle market, recording 467 sales from January to September 2024. With its streamlined lineup of three battery-electric models, Volvo outpaces competitors in the luxury segment, maintaining month-over-month sales leadership despite offering fewer models. The flagship EX30 has seen remarkable demand, moving 348 units, while the XC40 Recharge and C40 Recharge followed with 96 and 23 units, respectively. “We have reached new sales heights in the first nine months of the year, driven by strong demand for the EX30,” said Markus Cromwell, Commercial Director at…