Author: Gugu Lourie
October marked significant growth in the used car market, with the latest AutoTrader data showing a surge in sales. A total of 34,968 units were sold, reflecting a 22.2% month-on-month increase from September. While the vehicles occupying the top 10 spots remain unchanged, every used car and bakkie on the list enjoyed increased sales in October. The combined value of used cars sold totalled R14.09 billion, 21.59% higher than last month’s figure of R11.59 billion. The established brands remain at the top. Toyota remains the most popular, with 5,847 used cars sold, while Volkswagen and Ford followed at 5,237 and 3,660 units,…
Checkers has launched its revamped Sixty60 app to millions of shoppers nationwide, following months of rigorous testing. The updated app features an improved layout, user interface, and multi-factor authentication for enhanced security. Shoppers in eligible areas can now enjoy precision delivery of over 10,000 general merchandise products from selected Checkers Hyper stores, all within 60-minute time slots. This eliminates the need for lengthy waits typically associated with household item deliveries. “After intensive development, we’re confident that the next iteration of Sixty60 will again disrupt online retail in South Africa. Our precision delivery promise has been designed around our customers, which…
The protracted battle between Nkosana Makate, the inventor of the “Please Call Me” (PCM) service, and Vodacom, South Africa’s largest mobile network operator, has returned to the Constitutional Court. This marks the second time Makate will argue his case before the apex court as he seeks fair compensation for his groundbreaking invention. Makate’s journey for justice spans nearly two decades. The PCM service, which allows users to send a free call-back message, has reportedly generated billions in revenue for Vodacom. Despite the innovation’s success, Makate has yet to secure a payout he deems fair for his intellectual property. A landmark…
McDonald’s SA has enhanced its Mobile Order and Pay (MOP) feature, offering customers greater flexibility and convenience when ordering meals. Available through the McDonald’s app, the upgraded service allows users to place orders in advance and choose from various pickup options, including dine-in, curbside parking (Curbserve), or drive-thru. This upgrade builds on McDonald’s commitment to meeting the growing demand for faster and more personalised service. Whether driving through, grabbing a quick bite while running errands, or dining in, customers can enjoy a smoother, streamlined ordering process and reduced wait times. The MOP feature aligns with McDonald’s broader strategy to add…
Since the launch of South Africa’s two-pot retirement system on 1 September 2024, nearly R50 billion has been withdrawn. The system splits retirement savings into two portions: a savings pot, holding one-third of funds, accessible before retirement, and a preservation pot. To tap into the savings pot, individuals must withdraw at least R2,000 from a retirement, annuity, or preservation fund. As of 18 November 2024, 2,153,942 directive applications were received and a total of 1,914, 306 directives issued with a total gross value of R49 577, 355, 406.14. The difference between directive applications and directive issued is accounted for in the…
As Black Friday weekend approaches, Float, Africa’s first card-linked instalment platform, is poised for a record-breaking year. With over 1,000 new stores added to its platform in 2023, the company anticipates a 100% increase in the number of transactions processed compared to last year. In 2022, Black Friday weekend accounted for 21% of Float’s November transaction values, with a remarkable 140% increase compared to the preceding month. “We’re expecting similar performance this year in terms of the transaction uplift over Black Friday,” said Float CEO Alex Forsyth-Thompson. “However, the difference is that our platform now has a broader network of…
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…