Author: Gugu Lourie

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…

The European Commission has unconditionally cleared the acquisition by Farfetch of a 47.5% stake in Yoox Net-A-Porter (YNAP) in exchange for the issuance of Farfetch Class A ordinary shares to Richemont. The European Commission was the last regulatory authority required to provide clearance. The partnership between Farfetch and Richemont also involves: the acquisition by Symphony Global, one of the investment vehicles of Mohamed Alabbar, of a 3.2% stake in YNAP, making YNAP a neutral online platform for the luxury industry; the adoption by YNAP and the Richemont Maisons of FarfetchPlatform Solutions and; the launch of e-concessions on the Farfetch marketplace…

South African insurance giant Hollard Group has invested significantly in insurtech firm Simply Financial Services, aiming to revolutionize the country’s mass-market life insurance sector. Simply Financial, founded by entrepreneurs Anthony Miller and actuary Simon Nicholson, offers innovative life, disability, and funeral cover solutions for individuals and businesses. Starting with direct life, disability and funeral cover for individuals and domestic workers, the Simply team made a significant move into the SME and broker spaces in 2020. Their model redefines the traditional approach to life insurance for lower- and middle-income earners, using proprietary technology and intuitive design to deliver flexible, affordably-priced retail…

Discovery is a global, integrated financial services organisation that uses a pioneering Shared-value model across businesses with operations in 39 markets globally. Discovery has leveraged fintech, actuarial and behavioural science for more than two decades to deliver on its core purpose – To make people healthier and enhance and protect their lives. The JSE-listed company has more than 13 700 people employed across the group. The company has over 40.5 million lives impacted globally. The company founded and led by Adrian Gore is valued at R98 billion on the JSE. Discovery builds market-leading businesses from the ground up through its disruptive Shared-value model.…

inq. Nigeria today announced the appointment of Ifeanyi Akosionu as its Managing Director, effective from October 3rd, 2023. With an extensive background spanning over two decades in transformative leadership within the African technology and telecommunications sectors, Ifeanyi brings a wealth of expertise and experience to his new role. Prior to joining inq. Nigeria, Ifeanyi served as the driving force behind product and commercial development in West Africa at Atlas AI. He also held the esteemed position of Telecommunications and Fintech Commercial Director for Sub-Saharan Africa at Verraki Africa. His impressive career includes leadership roles at prominent companies such as Commscope,…

MTN South Africa has introduced a new fibre service, MTN Fibre, as part of its Ambition 2025 initiative to provide cutting-edge connectivity solutions to customers. This offering combines high-speed internet with unparalleled reliability, starting at just R349 per month, which covers both the router and installation costs. “MTN Fibre is redefining the way our customers connect and communicate in an increasingly digitised world”, says Bertus Van Der Vyver, MTN SA GM: Residential. “Whether for remote work, gaming, entertainment, content creation, or just to simply stay in touch with friends and family, MTN Fibre offers South Africans the best in broadband…

African Bank announced that it has entered into a binding heads of agreement with Sasfin Bank and Sasfin Private Equity Investment Holdings, a subsidiaries of the listed entity Sasfin), to acquire its Capital Equipment Finance (‘CEF’) and its Commercial Property Finance (‘CPF’) businesses, as going concerns in one indivisible transaction. The value of the transaction is approximately R3.2 billion, using the 28 February 2023 net asset values for the CEF and CPF advances books, which will be adjusted at the closing date of the transaction. The CEF business is valued at R2.4 billion, consisting of the advances book and a…

The Empire Partner Foundation (EPF) is excited to announce the final call for nominations for the prestigious EPF Tech Awards. This annual event celebrates exceptional achievements and innovations in the technology industry across various categories. The EPF Tech Awards recognize outstanding individuals, organizations, and companies that have made significant contributions to social development and the technology sector. With a wide range of award categories, the awards aim to acknowledge excellence and innovation in the tech industry. The Award Categories Include: Lifetime Achievement Award Tech Industry Leaders NPO/NGO Impact in Social, Youth & Innovation Global Impact – Foreign Companies Making an…

Xsolla, a global video game commerce company, today announced its strategic acquisition of Lightstream, Rainmaker, and API.stream from Videndum, the parent company. These innovative sets of tools are designed to revolutionise the landscape of content creation and distribution. This acquisition underscores Xsolla’s recognition of the tremendous value creators bring to the gaming ecosystem and is dedicated to building and strengthening relationships with talent agencies, creators, and their audiences. Xsolla Partner Network already serves as a one-stop solution for engaging developers and publishers and exploring new revenue and rewards opportunities. With the acquisition of Lightstream, Rainmaker, and API.stream, Xsolla will allow…

TymeBank, a rapidly expanding digital bank, revealed today that it has reached a milestone of eight million customers as of October 6, 2023. This achievement signifies that one out of every five eligible South Africans now holds an account with TymeBank, solidifying its position as one of the world’s fastest-growing digital banks. “We are immensely proud of the fact that we have acquired eight million customers since launching in February 2019,” says TymeBank CEO Coen Jonker says.  “Our performance reinforces our position as one of the world’s fastest growing digital banks and a credible alternative to the legacy banks for…

To combat the energy crisis, MTN South Africa has committed significant funds to enhance its tower infrastructure. This effort includes integrating backup batteries and generators to ensure a continuous power supply. Charles Molapisi, the CEO of MTN South Africa, has announced an additional investment of R1.5 billion for the fiscal year 2023 to bolster these initiatives. Highlighting the severity of the energy crisis in South Africa, Molapisi revealed, “In 2022 alone, we had to deploy over 2,000 backup generators, consuming more than 400,000 liters of fuel monthly.” This new investment aims to address this challenge and strengthen MTN’s infrastructure for…

Discover the latest episode of TFS Bag of Words, where MTN South Africa’s Bertus Van Der Vyver delves into the groundbreaking MTN SuperFlex mobile plan. In a world where the cost of living can cause frustration, the burden of expensive mobile plans should not add to your worries. MTN addresses this concern with its innovative solution, MTN SuperFlex, a month-to-month SIM-only plan that prioritises your convenience. In this engaging podcast, Van Der Vyver, General Manager for MTN Residential, sheds light on how MTN SuperFlex aims to transform the way customers perceive mobile plans. He discusses the challenge of providing both…

Banking group Nedbank announced Friday that Mteto Nyati is stepping down from its board of directors. His resignation is with effect from 9 October 2023 because of increased capacity constraints, said Nedbank. “Mteto accordingly also steps down as a member and chair of the Group IT Committee, and member of the Group Directors’ Affairs Committee and Group Risk and Capital Management Committee,” the banking group informed investors. Nedbank Group Chairperson, Daniel Mminele, thanked Nyati for his contribution to the deliberations of the boards since his appointment. The group wishes him well in his future endeavours. The bank added that all…