Author: Gugu Lourie

It seems like FNB and Pick n Pay might just be South Africa’s ultimate love story in business! Have these two beloved brands found their “golden hour” together? Judging by their latest partnership, it sure looks that way! FNB and Pick n Pay are teaming up to deliver extra rewards for their loyal customers, making it easier to save on essentials, groceries, and clothing. It’s a match made in retail-rewards heaven. Today, during a  Microsoft Teams call with the media, the companies even set the tone with two powerful tracks: JVKE and Henry’s Golden Hour and the iconic Jerusalema by…

South Africa’s telecommunications landscape was rocked on Tuesday as the Competition Tribunal blocked Vodacom’s proposed acquisition of a co-controlling stake in Maziv, the parent company of Vumatel. This decision delivers a major setback to Maziv and puts the brakes on anticipated industry consolidation. The Tribunal’s move could also derail potential mergers, like the anticipated deal between MTN South Africa and Telkom’s Openserve, signaling a cautious stance on market concentration in the sector. The Competition Tribunal has blocked Vodacom’s planned investment of up to R14 billion into Maziv, the holding company for Vumatel and Dark Fibre Africa. This deal was intended…

Finfra, Indonesia’s lending infrastructure provider, has announced a landmark partnership with Tyme Group, the digital banking group behind TymeBank in South Africa and GoTyme Bank in the Philippines. This partnership, a first in Indonesia, supports Tyme Group’s entry into the Indonesian market as part of its broader Southeast Asia growth plan, following successful expansions into the Philippines and Vietnam. The news comes after Finfra’s recent $2.5 million funding round, led by Cento Ventures, with investments from Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis (founder of Avafin), and existing supporters. Indonesia, Southeast Asia’s largest economy, is experiencing rapid digitalization within…

Balwin Properties, known for its secure, eco-conscious, and strategically located residential estates, has achieved substantial growth in its annuity income, primarily driven by its fibre and renewable energy services. Offering one-, two-, and three-bedroom apartments, Balwin developments cater to a diverse spectrum of home buyers and investors. These apartments feature modern, energy-efficient kitchens, prepaid water and solar-assisted electricity systems, and eco-friendly appliances, with every unit fully fibre-enabled through Balwin’s dedicated subsidiary. In the latest financial year, Balwin Annuities reported a 17% year-on-year revenue growth, reaching R65.8 million as of August 2024, up from R56.3 million in 2023. Fibre installation and…

Pick n Pay’s online retail division has reported an impressive 60.6% year-on-year growth in sales, reflecting the company’s strategic advancements in its on-demand platforms and overall digital transformation. Building on a robust 74.4% increase in full year 2024, Pick n Pay Online’s sustained growth has been driven by notable improvements in customer service, technological upgrades, and operational efficiency. This expansion has been primarily fueled by the popularity of Pick n Pay’s on-demand retail services, including the Pick n Pay asap! app and Pick n Pay Groceries on Mr D, both of which are now accessible through 550 Pick n Pay…

Four years ago, TechFinancials anticipated that EOH, the scandal-tainted IT group, would undergo a major rebrand, emerging as iOCO. EOH believes it has largely restored its reputation after facing allegations of involvement in state capture corruption and is now refocusing on government contracts, with ambitions to double its revenue from these engagements, according to a report in the Sunday Times’ Business Times. The company, identified by the Zondo Commission as a key player in state capture, began its reform journey in 2018 with the appointment of Stephen van Coller as CEO. Chief Justice Raymond Zondo commended EOH in his initial…

It is both disappointing and dishonest that some are trying to pin YeboYethu’s woes on Nkosana Makate, the inventor of Vodacom’s “Please Call Me” (PCM) service. YeboYethu, the Black Economic Empowerment (BEE) vehicle of Vodacom, has been pushing the narrative that compensating Makate fairly for his billion-rand idea will destroy the livelihoods of its black shareholders. This is nothing but a diversionary tactic. Makate has been embroiled in a relentless legal battle with Vodacom for over 16 years, fighting for fair compensation for his revolutionary PCM service, which he developed in while employed at Vodacom. The service, which allows users…

In an interview with TechFinancials, William Dong, President of Huawei Cloud Marketing, shared insights on how Huawei Cloud is positioning itself to drive growth and accelerate digital transformation in South Africa’s private and public sectors. As South Africa’s market moves closer to adopting cloud and AI technologies, Dong emphasised the pivotal role that Huawei Cloud plays in enabling this shift. Dong was speaking ahead of the inaugural Huawei Cloud South Africa Cloud Summit 2024, set to be held tomorrow in Johannesburg. This landmark event will bring together over 600 industry leaders from various sectors at the Gallagher Convention Centre for…

Vodacom is once again seeking to challenge its obligation to fairly compensate Nkosana Makate, the inventor of the lucrative Please Call Me service, which the telco has used for over 23 years to generate billions. Despite the Supreme Court of Appeal (SCA) ruling in February 2024 that Vodacom should pay Makate 5%-7.5% of the revenue generated by Please Call Me over 18 years, Vodacom is heading to the Constitutional Court to appeal the decision. Vodacom – owned by British mobile giant Vodafone –  is challenging SCA ruling, which rejected the R47 million compensation offer made by CEO Shameel Joosub to…

The South African economic landscape has seen more stability in 2024, with inflation slowing to an average of 5.38%¹, compared to 6,0% in 2023 and 6.9% in 2022². This economic relief has translated into slower price hikes for the used car market. The AutoTrader Retail Price Index (RPI), a key measure of price movements in the used car market, shows that the average price increase for used cars dropped to 2.43% this year from 7.35% in 2023. “The easing of inflation in 2024 has brought some much-needed stability to the used car market, which is good news for consumers, who are now seeing slower…