Author: Gugu Lourie
Vodacom, South Africa’s largest telecommunications operator, faced a 4.2% decline in half-year earnings for the period ending on September 30. This downturn was attributed to start-up losses in Ethiopia, increased interest rates, and the recognition of a deferred tax asset in Tanzania from the previous year. The company disclosed that headline earnings per share (HEPS), considered South Africa’s true profit indicator, fell to 438 cents during the six months compared to 457 cents in the same quarter a year earlier. Vodafone Egypt contributed 16 cents to HEPS. Despite the challenges, Vodacom reported a substantial increase in revenue for the quarter,…
Clickatell, a trailblazer in “chat commerce” based in South Africa, has introduced artificial intelligence tools designed for crafting tailored conversations. Leveraging natural-language processing, Clickatell AI adeptly understands the intent behind customer inquiries. The incorporation of generative AI enables the provision of substantial and valuable interactions. By employing artificial intelligence and messaging, this conversational AI solution enhances customer engagement and fosters robust relationships through the facilitation of personalized conversations. Clickatell AI employs natural language processing (NLP) to comprehend the intent behind customer inquiries, coupled with generative AI to offer meaningful and valuable conversational interactions that evolve over time. Seamlessly integrated into…
Eskom has revealed a groundbreaking achievement with the inauguration of the largest Battery Energy Storage System (BESS) project in South Africa, marking a milestone not only for the country but for the entire African continent. The official unveiling took place at the Hex BESS site in Worcester, located in the Western Cape, yesterday. The completion of the Hex BESS marks a significant milestone as the inaugural project within Eskom’s flagship BESS initiative, announced in July 2022 to address the strain on the national electricity grid. This strategic response aims to tackle South Africa’s persistent electricity challenges by augmenting storage capacity,…
Humane, a clandestine startup formed by a formidable collective of former Apple personnel, led by co-founders Imran Chaudhri and Bethany Bongiorno, has unveiled its inaugural consumer product after a prolonged period of selectively releasing hints and articulating its mission. The much-anticipated debut is the “AI Pin,” officially launched today. Ai Pin marks a new beginning for personal consumer technology, offering users the ability to take AI with them everywhere in an entirely new, conversational and screenless form factor. Ai Pin will be available to order in the US from November 16th, starting at $699 for the complete system. “Ai Pin…
Root Platform (Root), a provider of an end-to-end insurance technology platform that emphasises low-code and an API-first approach, today announced its inaugural strategic partnership in the UK with Connect by Admiral (Connect), a subsidiary of the leading insurer Admiral Group. Connect operates as an API-first embedded insurance platform, designed to streamline the integration of insurance solutions into businesses. “We’re delighted to partner with Admiral Pioneer to provide the API connectivity architecture behind their innovative Connect platform,” Louw Hopley, Co-Founder at Root, said. “The early signs are very positive and we’ve received good feedback so far. “Connect really shows the power…
NEXT176, supported by Old Mutual, invests R27 million in JOBJACK, a South African tech startup reshaping entry-level recruitment. JOBJACK’s innovative approach tackles accessibility and affordability challenges in the job market by enabling candidates to apply directly from their mobile phones. JOBJACK empowers candidates by eliminating costs associated with traditional job-hunting methods like CV printing and transport, allowing applicants to apply directly from their mobile phones. The platform is now data-free for MTN and Vodacom network users, making job hunting more accessible and cost-effective for job seekers. In a significant development for the tech startup, the pre-Series A funding round led…
Amidst the widespread demand for affordable and dependable solar power solutions in South Africa, Nedbank has unveiled a series of cutting-edge solar financing options through its Avo Solar platform. These innovative packages are designed to provide households and businesses with accessible and eco-friendly energy solutions, featuring competitive prices for solar panels and backup batteries. Each package guarantees professional installation by certified solar suppliers approved by Nedbank, ensuring the highest standards of service. Furthermore, all solutions are backed by a 10-year warranty and a certificate of compliance, underscoring the superior quality of the featured solar brands. ‘South Africans have learned that…
Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and its fund manager, Ninety One, have committed a $31 million or R571 million debt facility to Paratus Group Holdings Limited (Paratus) to finance the expansion of its fibre and data centre business over the next three years. Ninety One acted as the mandated lead arranger of the transaction, mobilising capital from two of its funds, EAIF and Ninety One Africa Credit Opportunities, to enhance last mile connectivity and introduce more reliable internet services across three sub-regions and including seven countries: Angola, Botswana, the Democratic Republic of Congo,…
Dr. Anna Mokgokong, a trailblazer in the business world, was honoured with the Lifetime Achiever Award at the 20th anniversary of the Standard Bank Top Women Awards, held on Tuesday, 7 November 2023, at the prestigious Sandton Convention Centre. The awards theme was ‘My Africa’ – a tribute to the strength, diversity, and achievements of women across the continent. Dr Mokgokong was celebrated for her outstanding contributions to society. Her inspiring journey from overcoming overwhelming odds to establishing her presence in a male-dominated industry serves as a beacon of hope and resilience. In her acceptance speech, Dr. Mokgokong emphasised the…
Balwin Properties introduces groundbreaking trade-in programmme for homeowners in Gauteng and KwaZulu-Natal, setting a new standard in sectional title homes. The trade-in programme is known as Balwin Approved. “We’re very excited about this concept, which enables homeowners to trade in their current Balwin apartment for a new Balwin apartment,” Balwin Chief Executive, Steve Brookes explained. “Premium motor vehicle brands have been doing this for years, where you can trade in your good quality car for a later model or buy a vehicle with peace of mind because of the manufacturer’s multipoint inspection and backing. “Balwin Approved works on a similar…
Following WeWork’s announcement to commence a strategic reorganisation process in the U.S. and Canada, WeWork South Africa confirms that it is not part of the North American process. “WeWork South Africa is 100% independently owned by SiSebenza, and operates independently from WeWork in the US and Canada,” say Andrew Robinson and Stefano Migliore, the owners of WeWork South Africa. “Importantly, as an independent entity, we are not part of this strategic reorganisation process and there will be no impact on our members, vendors, employees, and real estate partners.” The WeWork South Africa business is strong and committed to investing in its…
Flexible office space company WeWork, once valued at $47 billion, has filed for Chapter 11 bankruptcy protection in the United States. WeWork, humorously dubbed WeDidn’tWork by some, assured that its franchisees worldwide remain unaffected by these proceedings. The bankruptcy filing specifically pertains to WeWork’s locations in the U.S. and Canada. In an official statement, the New York-based company outlined its strategic plan, emphasizing a deliberate approach aimed at maximizing value. WeWork intends to reject leases for specific non-operational locations, with advanced notice provided to all affected members. This move is part of their effort to position the company for operational…
Trade, Industry and Competition Minister Ebrahim Patel has used his address at the 2023 Africa Growth and Opportunity Act (AGOA) Forum to galvanise the message of a united Africa that is earnestly at work to reclaim its place in the world. The 20th AGOA Forum is currently taking place at the Nasrec Expo Centre in Johannesburg, Gauteng, the heart of commerce and trade in South Africa. The forum brings together a large contingent of African Trade Ministers and their delegations, and over 300 delegates from the United States business sector, including the US Chamber of Commerce. Delegates from Business Unity…
In a groundbreaking move toward a greener future, Volvo Cars has unveiled its latest venture, Volvo Cars Energy Solutions. This innovative initiative seeks to harness the untapped potential of electric cars and their batteries beyond mere transportation. While electric vehicles (EVs) are already hailed as crucial steps towards a more sustainable society by eliminating tailpipe emissions, Volvo Cars believes they can do much more. Did you know that stationary electric cars can power homes, appliances, and even contribute surplus energy back to the grid? Volvo Cars Energy Solutions aims to capitalise on this potential, creating a bridge between EVs, customers’…
Hewlett Packard Enterprise (HPE) has announced the immediate appointment of President Ntuli as the managing director for South Africa. In this role, Ntuli takes on comprehensive oversight of HPE’s business, personnel, and operations in the country. Having previously served as the director of HPE GreenLake Cloud Services in the UK, Ireland, Middle East, and Africa region, Ntuli brings valuable experience to his new position. Based at HPE’s Johannesburg office, he leads a team of over 150 members spread across Johannesburg, Cape Town, and Durban. “I’m excited to take up the challenge of leading Hewlett Packard Enterprise South Africa into the…
Today, Linkedin introduced a new AI-powered Linkedin Premium experience bringing a higher level of personaliSation to each interaction. The company said the tailored experience encompasses everything from gaining deeper insights into crucial topics to receiving personalized career action suggestions. Helping Premium subscribers unlock new opportunities and increase productivity: Linkedin said: “Our new AI-powered experience will analyze your feed’s posts (from the commentary to the article to the conversation) and reveal the key salient opportunities for you…in one simple click… in seconds. It will take on the hard work of parsing through long articles, videos and posts and give you ideas…
SA Government plans to implement tax and expenditure measures to support the automotive sector to transition to a low carbon economy. Delivering the Medium Term Budget Policy Statement in Parliament on Wednesday, Minister of Finance Enoch Godongwana said details will be provided in the 2024 Budget Review. “Part of the broader strategy includes collaborating with other African countries to develop battery production capacity on the continent, by pooling the critical-mineral resource base that Africa is endowed with,” the Minister said. He explained that the transition to a low carbon economy should be integrated into a comprehensive green growth strategy and…
Moving banking services closer to where clients conduct their work and business operations will significantly transform the future of banking says Investec, who is actively expanding its banking integrations and Application Programming Interface (API) capabilities through Investec Developer, to achieve this goal. Investec Developer leverages the power of Investec’s digital and technology capabilities to provide private and business clients with a new level of banking access and control. Focused on API banking integration, programmable card accounts and co-creating innovative solutions with the programmable banking developer community. Investec is the only bank in South Africa to have opened its APIs to…
Paratus Group, a pan-African telecom and network services provider, reveals strategic initiatives to achieve its goal of doubling revenue within the next five years. Providing LEO, MEO and GEO services across the continent Completion, in Q4 of 2023, of the new Paratus teleport in South Africa Construction of its second teleport in Luanda, Angola to create a Paratus connectivity hub for the region is due for completion in October 2023. The building of a fifth Data Center (DC) in Angola will be the largest in that country. Construction will be complete by Q2 of 2024. The last leg of the…
Woolworths today announced today its intention to buy 93.45% of the shares in privately-owned pet retailer Absolute Pets from Sanlam Private Equity and Absolute Pets management (the Transaction). The remaining management-retained shareholding will be acquired by Woolworths over an agreed period, post the completion of the Transaction. Absolute Pets was established in 2005 and has become one of South Africa’s leading specialist pet care retailer, with over 150 stores nationwide. Woolworths said pet care is an attractive and rapidly-developing market, with substantial growth potential. “It is also an increasingly important category for Woolworths customers, who consider their pets an integral…
South Africans across the country are gripped by the green and gold fever ahead of the 2023 Rugby World Cup final on Saturday, which will pit South Africa’s Springboks against the All Blacks from New Zealand. If the semi-final is anything to go by, the final game promises to be a nail-biting encounter that will keep every fan on the edge of their seat as the teams go head-to-head at 9pm sharp. From schools, companies, and restaurants to social media posts, the Springbok jersey-wearing South Africans are counting down the hours to what will go down in history as one…
Luminous Power Technologies, a subsidiary of Schneider Electric, has partnered with Hudaco Energy to enter the South African market. They are introducing innovative energy solutions, including the first Lithium battery pack, and plan to establish South Africa as a hub for sustainable power solutions, such as residential rooftop solar systems and local electrician training. CEO Preeti Bajaj expressed excitement about the partnership and Luminous’ commitment to delivering reliable energy solutions in South Africa, contributing to the region’s sustainable development and energy transition. The company has launched the first ever Lithium battery pack – LITCORE for the market, manufactured in India.…
In a remarkable display of support for the national rugby team, Checkers Sixty60, South Africa’s premier grocery delivery app, took a bold step today by adorning the city of Paris in the unofficial Springbok colour. This spirited gesture comes on the eve of the highly anticipated 2023 Rugby World Cup final between South Africa and New Zealand, scheduled to take place at the iconic Stade de France in Saint-Denis, this Saturday at 21:00. As the excitement reaches a fever pitch across the nation, Checkers Sixty60 has not just confined its support to the local front but has extended its backing…
South African-founded startup WhereIsMyTransport is ceasing operations, its founder Devin de Vries announced today on Linkedln. “WhereIsMyTransport is at its journey’s end,and what a remarkable experience it has been! Charting a course to enable freedom of movement – at scale in emerging markets – has been a great endeavour and humbling teacher,” De Vries wrote. He added: “Having failed to raise our round, we’ve stopped operations,” wrote De Vries. He thanked the investors who have supported him along the way, saying, “Without you, our work would not have been possible. “Thank you to the team who gave the best of…
JSE-listed Famous Brands disclosed today that it has acquired an interest in an associate, Munch Software to digitise the restaurant management technology ecosystem. The restaurant group, which owns Wimpy, Steers, Debonairs and Fishaways, said Munch Software is a recent entrant in the Point of Sale software industry, offering a modern and agile cloud-based platform. “This new partnership will enable Famous Brands to achieve its ambitions to digitise the restaurant management technology ecosystem and assist the Munch business in reaching critical mass,” Famous Brands informed investors. “The transaction falls below the threshold for categorisation and therefore there is no requirement for an…