Author: Gugu Lourie

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…

The global Covid-19 pandemic saw retailers respond to consumers’ demands for online shopping. This growth has translated into exponential growth for the courier industry. By 2019 Fastway Couriers, SA’s largest network of independently owned last-mile courier service providers, was growing by 9.2% year-on-year. In 2022, Post Covid-19 and amidst the local e-commerce boom, that catapulted to 35.7% year-on-year. Daniel Lombard, Fastway Couriers MD, says the company anticipates moving around 14 million parcels this year, as consumers recognise the convenience and cost-effectiveness of retaining home deliveries from retailers. Lombard says the growth in last mile courier deliveries have their roots in both traditional…

Discover unbeatable November deals before stocks run out! Vodacom is your gateway to massive savings on both sim-only data plans and smartphones this Black November. As part of this exclusive promotion, enjoy incredible discounts of up to 75% on SIM-only data deals. These offers are valid from November 16th to December 6th, 2023. Don’t miss out on the chance to seize a SIM-only 700GB data deal for just R349 per month on a 36-month contract, resulting in an impressive saving of R26,280. Alternatively, opt for the SIM-only 900GB data deal at R399 per month on a 36-month contract and pocket…

The festive season can often bring hefty price tags. Apart from the cost of living during this particularly social time of the year, there’s the price of Christmas presents for loved ones and long-awaited holiday destinations. There might even be a car on the festive shopping wishlist. But what if the budget only stretches to a car costing no more than R50,000? What budget-friendly and reliable options can consumers find on the used car market in this price bracket? Cars priced under R50,000 are expected to be somewhat long in the tooth, high on mileage and short on creature comforts. Yet,…

Toyota’s Kinto One car subscription, which was launched in July 2022, is gaining popularity in South Africa. The full-service and pay-for-use subscription provides individuals and businesses with the advantage of driving new cars without the need for ownership. The introductory offer was set at R2,999 per month for 12 months (18,000km) on a Toyota Vitz 1.0 manual. Kinto One has already seen explosive growth in the South African market, both from a consumer and trade perspective. In just over a year, hundreds of customers have subscribed to a new Toyota, with the subscriber base growing steadily month-on-month showing a great…

Volkswagen Commercial Vehicles has joined forces with DHL Express to conduct a pilot test featuring the ID.Buzz Cargo fleet in South Africa. Over the next six months, four ID.Buzz Cargo units will be stationed at DHL Express Service Centres in Johannesburg, Cape Town, and Durban. These units are earmarked for specialized last-mile delivery services as part of DHL’s local pilot initiative aimed at achieving global zero emissions logistics. This collaboration marks a significant step in realising Volkswagen Group South Africa’s electric vehicle strategy for the Volkswagen brand in the country. “Our partnership with DHL Express on the ID.Buzz Cargo test…

FedEx Express serves more than 100 markets across the AMEA (Asia Pacific, Middle East, and Africa) region. This was contained in the FedEx’s annual economic impact report, analysing the company’s worldwide network and role in fueling innovation during its 2023 fiscal year. The study demonstrates the positive impact FedEx has on individuals and communities around the globe — otherwise known as the ‘FedEx Effect’. The study found that with its extensive network, FedEx Express contributed 0.3% of net economic output in the Transportation, Storage, and Communications sector in AMEA during FY 2023. Across all sectors of the AMEA economy, FedEx…

Volvo Car SA has recorded a significant year-on-year increase in sales of its plug-in hybrid models, demonstrating the local market’s growing appetite for electrified vehicles from the Swedish luxury brand. Over the first nine months of 2023, registrations of Volvo’s plug-in hybrid vehicles in South Africa grew by more than 33% compared with the same reporting period in 2022. This comes after the Gothenburg-based firm recently detailed its dominance of the fully electric premium C-SUV segment. The XC90 Recharge plug-in hybrid – which is currently the flagship in the local Volvo line-up – was the key driver of this latest sales…

JSE-listed telecoms firm Telkom is requesting that Independent Communications Authority of South Africa (ICASA)  defer the second spectrum auction to 2025. Spectrum – the lifeblood of the telecoms industry – relates to the radio frequencies allocated to the mobile industry and other sectors for communication over the airwaves. In 2022, ICASA successfully completed an auction for spectrum, catering to both 4G and certain 5G requirements. In June, ICASA said it intends to issue a tender to appoint a consultant to assist it in the licencing of the International Mobile Telecommunications (IMT) spectrum. ICASA said the consultant’s duties will include conducting an auction…

In a strategic move aimed at unlocking value and optimizing its business portfolio, telecommunications giant Telkom has embarked on discussions to sell its mast and tower business housed in Swiftnet, a wholly-owned subsidiary of the company. Shareholders were alerted to this decision through Telkom’s previous communication, highlighting the company’s commitment to a competitive disposal process in line with its value unlock strategy. In a recent update, Telkom disclosed that it is currently engaged in exclusive negotiations with a preferred bidder for the potential disposal of Swiftnet. The outcome of these negotiations, if successful, could have a substantial impact on the…

Microsoft said on Monday it remained committed to our partnership with OpenAI. The tech giant also announced that it has appointed ousted OpenAi CEO. “We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate with everything we announced at Microsoft Ignite, and in continuing to support our customers and partners,” Microsoft CEO Satya Nadella, said. “We look forward to getting to know Emmett Shear and OAI’s new leadership team and working with them. And we’re extremely excited to share the news that Sam Altman and Greg Brockman, together with…

In its continuous commitment to expedite the widespread embrace of electric mobility, Audi South Africa has initiated a nationwide awareness initiative designed to inform the public about electric vehicle (EV) charging. As a key component of this initiative, Audi has substituted conventional charging stations with miniature versions of the brand’s electric vehicle chargers within Bidvest Premier Lounges at the domestic departure terminals of Cape Town and OR Tambo International Airports. Scheduled to run until the conclusion of January 2024, the campaign encourages individuals to replenish their mobile devices using Audi’s compact EV chargers while awaiting their flights. By enabling passengers…

On November 15, 2023, Daimler Truck Southern Africa (DTSA) made history as the first global market to introduce the Daimler Truck Parts Portal—an online eCommerce platform. This click-and-collect system allows customers to purchase over 400 parts online, including oil, batteries, service, and wear and tear components, for pick-up within 24 hours at their chosen dealership. Future plans involve expanding the product range to include maintenance and collision parts, as well as offering home delivery services. “The Daimler Truck Parts Portal is a game changer in the commercial vehicle market, and we are thrilled to be part of the development team,…