Author: Gugu Lourie

Natasha Mazzone – the Democratic Alliance (DA) shadow minister of communications and digital technologies, Natasha Mazzone – somehow finds time to engage in cheap politicking. Soon after Nonkululeko Dlamini was named the new Telkom CFO on Sunday, (1 October 2023), Mazzone was on her laptop. In a rush, Mazzone arrogantly declared the DA believed Dlamini would not add any value to the financial management of Telkom, which she described as a state-owned enterprise (SOE). Dlamini, who recently resigned as Transnet CFO, takes up her new role at Telkom on 1 December 2023. Unimpressed, Mazzone demanded in her statement that: “The…

Frogfoot Networks, a licensed open-access fibre network provider, is launching Frogfoot RISE, a prepaid, uncapped internet service aimed at expanding fibre connectivity across South Africa’s townships. The pilot programme will connect 40,000 to 45,000 homes within the next 3 to 6 months, starting with Vrygrond and Phillipi in the Western Cape. These areas, situated beyond Frogfoot’s existing network, are densely populated and currently underserved. “Frogfoot Networks’ ambition is to bring access to uncapped connectivity to as many South Africans as possible. Of course, this will have to be accomplished through a mix of technologies, but it makes more sense to…

FirstRand has appointed COO Mary Vilakazi as its new CEO, marking a historic milestone as she becomes the first woman to lead the financial services group in its 185-year history. Vilakazi will succeed Alan Pullinger, who is set to step down from the role in April next year. Having joined the JSE-listed financial services group in 2018, Vilakazi brings a wealth of experience, previously serving in various capacities at Momentum Metropolitan Holdings, including CFO and deputy CEO. The appointment signifies a significant step towards gender diversity in the leadership of major financial institutions. As one of three FirstRand executive directors,…

Three Information Communication Technology (ICT) companies pledged a total of R809 million towards the Eastern Cape economy, part of the R127 billion in new investment commitments announced on Friday during the third Eastern Cape Investment Conference held at the East London International Convention Centre. Among these commitments is a significant R500 million investment by Vodacom, South Africa’s largest mobile communications company. This substantial funding is allocated for expanding connectivity in rural areas and townships within the province. Additionally, global technology firm JendaMark Automation is injecting R150 million into digital Fourth Industrial Revolution technologies in Nelson Mandela Bay. Furthermore, the Universal…

Pick n Pay CEO Pieter Boone has resigned from the top role,  effective 30 September, the retail giant announced on Monday. Sean Summers, a Pick n Pay veteran who ran the group as MD and CEO for 11 years, will replace Pieter with immediate effect. “I want to thank Pieter for his dedication to Pick n Pay over the past two-and-a-half years. He became our CEO while the Covid pandemic was still raging, and has led the business through some extraordinary challenges, including the transition out of the Covid lockdown, the unprecedented civil unrest in 2021, and the current loadshedding…

Capitec Bank announced today that Capitec its revenue from send cash payments and voucher sales surged 56% to reach R1.1 billion in the six months to end-August 2023. “The leading digital bank’s latest results reveal that the number of clients embracing digital transactions has grown 8% to 11.7 million, while the number of app users climbed to 10.2 million, making Capitec the biggest digital bank in South Africa,” , says Gerrie Fourie, Chief Executive Officer at Capitec. “This surge has propelled digital transaction volumes by 21% to 957 million, with the banking app claiming 83% of these transactions. Income from…

Capitec today announced that its prepaid mobile service Capitec Connect has issued 1.3 million SIM cards to subscribers by the end of August 2023. The banking group launched its mobile virtual network operator (MVNO) in September 2022. Capitec Connect piggybacks on Cell C’s mobile network infrastructure. Capitec GlobalOne transaction accounts can become Capitec Connect subscribers by connecting to the mobile virtual network by purchasing a SIM card from Capitec, which has been provisioned and activated on the mobile network. Meanwhile, Capitec also recorded headline earnings growth of 9% to R4.7 billion in its August 2023 Interim financial results. The bank’s…

Scan to Pay, Powered by Ukheshe, has partnered with Xion Global to offer crypto payments on the Scan to Pay app. Scan to Pay, powered by Ukheshe, is the largest QR ecosystem in South Africa and is used by more than 600,000 vendors, 14 banks and fintech companies and 94 payment service providers. Now, this new partnership will seamlessly introduce more crypto payment options to mainstream South Africa through the Scan to Pay app. Tracy-Lee Schoeman, Vice President of Loyalty and Rewards at Ukheshe, says the rise of cryptocurrencies has created a new wave of opportunities for performing financial transactions.…

In the contemporary age of endless data, TechFinancials emerges as your ultimate partner, transforming raw data into actionable insights that supercharge your brand. Unlocking the Power of Data: Propel Your Brand with TechFinancials! Comprising of a stellar ensemble of data analysts, researchers, and innovative creatives, we harness the profound strength of data to uniquely craft your brand and customer engagement strategy. Empower Every Decision with Data-Driven Insights Our mission revolves around leveraging insights to drive decisions that resonate. We’re not just about data collection; we’re about deriving meaningful, actionable insights that matter. By understanding precisely why, how, and where customers…

Root Platform (Root), the provider of a low-code, API-first, end-to-end insurance technology platform, has announced a new investment today. Invenfin, the venture and growth capital arm of Remgro Limited based in South Africa, has increased its investment in the company by $1.5 million. “We’ve built a trusted partnership with Invenfin since they invested in our business two years ago, and I’m delighted that they see further potential in our growth strategy and want to continue to invest in our future as we scale up internationally,” Louw Hopley, Co-Founder at Root, said. “We want to continue to expand in the UK…

The Huawei Watch GT 4 is more than just a smartwatch; it’s a compact computer that effortlessly combines style and functionality. Whether you’re dressing up for a formal event or hitting the gym, this innovative timepiece has you covered. At the launch event in Fourways, Johannesburg, Akhram Mohamed, the VP of Operations for Huawei South Africa’s Consumer Business Group, emphasiSed that the Huawei Watch GT 4 isn’t your typical smartwatch. It seamlessly blends classic elegance with modern technology, offering a unique blend of design and health features. The Huawei Watch GT 4 takes a bold step forward in terms of…

OpenAI is reportedly exploring the option of offering shares for sale, a move that could elevate the company’s worth from $29 billion to a range between $80 billion and $90 billion, as per sources cited by The Wall Street Journal. Notably, this initiative would permit employees to sell their existing shares, rather than the company issuing new ones. Potential sale would value startup at roughly triple where it was set earlier this year. OpenAI is an AI research and deployment company. OpenA is the artificial intelligence company that created ChatGPT, a popular AI generative assistant. The 80 billion and $90…

On Sunday, Hong Kong’s cryptocurrency firm Mixin revealed a security breach resulting in the theft of approximately $200 million by hackers. “In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets,” the company wrote on X, formerly Twitter. “Deposit and withdrawal services on Mixin Network have been temporarily suspended. After discussion and consensus among all nodes, these services will be reopened once the vulnerabilities are confirmed and fixed.”’ The company said it had have contacted Google and blockchain security company @SlowMist_Team…

OpenAI announced today in iots blog that it is rolling out new voice and image capabilities In ChatGPT. “They offer a new, more intuitive type of interface by allowing you to have a voice conversation or show ChatGPT what you’re talking about,” said OpenAI. The company added that voice and image give you more ways to use ChatGPT in your life. You can now snap a picture of a landmark while traveling and have a live conversation about what’s interesting about it. “When you’re home, snap pictures of your fridge and pantry to figure out what’s for dinner (and ask…

In a significant development today, Cisco, a prominent figure in the realm of cybersecurity, and Splunk, a recognised leader in observability, have officially unveiled a definitive agreement. According to this agreement, Cisco is set to acquire Splunk for a substantial $28 billion, which is equivalent to R530 billion. Once the acquisition is successfully concluded, Gary Steele, the current president and CEO of Splunk, will assume a key role within Cisco’s Executive Leadership Team, with direct reporting responsibilities to Chair and CEO Chuck Robbins. This acquisition not only capitalises on Splunk’s rich legacy of aiding organisations in bolstering their digital resilience…

The National Credit Regulator (NCR), in partnership with the Government of Japan and the International Finance Corporation (IFC), have come together to launch an innovative TechSprint competition (also known as the Hackathon) designed to support the digitisation and regulatory compliance of small credit providers in South Africa. The initiative will incorporate a virtual TechSprint and subsequent Showcase event, engaging software developers and technology teams to create robust and affordable solutions for small credit providers, ultimately promoting financial inclusion for underserved borrowers. In the virtual TechSprint (Hackathon), taking place from 16 to 20 October 2023, Tech teams will enter a hackathon…

South Africa’s whisky aficionados have a reason to celebrate as the world-renowned Scotch whisky brand, Johnnie Walker, unveils its latest masterpiece – Johnnie Walker Elusive Umami. The limited edition offering will be available in South Africa from October 2023 for discerning palates. This collectible release is a testament to the brand’s commitment to innovation and the art of whisky craftsmanship. Master Blender, Emma Walker, along with world-renowned Chef Kei Kobayashi, set out on an epicurean journey of flavour discovery to create a blend that encapsulates the enigmatic taste of Umami. The result is an expression of sumptuous taste, complexity and…

Remgro, with a 57% ownership in CIVH, revealed that CIVH contributed R206 million to its headline earnings for the year ending June 2023, a significant increase from R47 million the previous year. This boost is attributed to improved performances by CIVH’s core businesses, mainly DFA and Vumatel, driven by network expansion, although offset by higher finance costs. DFA saw a 6.8% revenue increase to R2.6 billion, with annuity income reaching R213 million per month in March 2023, compared to R198 million per month in 2022. Meanwhile, Vumatel experienced a 15.1% revenue surge to R3.4 billion, propelled by fibre infrastructure expansion…

Discovery Bank, a part of Adrian Gore’s Discovery Group, achieved its medium-term goal of adding 1,000 new clients daily in January to June 2023, a 50% increase from the prior year. The bank’s total client base exceeded 700,000 by June 2023, making significant progress toward its 2026 target of one million clients. Discovery Bank saw steady growth in advances, driven by a 56% increase in credit applications and higher card usage. Its share of new credit issued for credit card facilities rose to 15.7% in Q2 2023, up from 10.9% the previous year. Despite a challenging macroeconomic environment, Discovery Bank…

Two months after the initial launch of inDrive.Freight in South Africa, the company is honored to share encouraging indicators reflecting the positive reception and adaptability of the youth in leveraging technology for employment opportunities amidst the country’s existing high unemployment rate. Remarkably, nearly 40% of the drivers who have engaged with the inDrive.Freight platform fall under the youth demographic(individuals aged 18 to 35 years old), demonstrating a significant stride towards engaging this vital sector of the population in economic activities. Further attesting to the high adaptability rate of technology among the youth, data showcases that 57.23% of the deals facilitated…

Time is a peculiar phenomenon. When in haste, it creeps by agonisingly slow, yet when in need of more, it slips through our grasp at double the pace. The hands of the clock maintain their steady rhythm, but our perception of time seldom adheres to the linear path that science dictates. It feels as if the inception of TechFinancials happened just yesterday, yet that “yesterday” was back in 21 September 2013. Time and change are inexorable forces, unstoppable in their relentless march forward. Over the past few months, we have been diligently working behind the scenes, preparing to introduce exciting…

Whether recharging, waiting to pick up your loved one, or cherishing a quiet moment away from the in-laws – your Volvo car is now better equipped to keep you entertained by introducing Prime Video to Google Play for download in all markets where Google apps and services are available. Volvo Cars is among the first carmakers to offer Prime Video in its cars. YouTube is also coming soon to Volvo cars with Google built-in. The service will become available as a pre-installed app starting from September 18th with a gradual rollout via over-the-air update (OTA), market by market. “Adding access…

The Naspers and Prosus boards and Bob van Dijk have mutually agreed that Bob will, effective 18 September 2023, step down from his position as chief executive as well as his position on the boards of both companies. Bob has agreed to assist with the transition after this date and will remain as a consultant to the group until 30 September 2024. Bob has been the chief executive of Naspers since 2014 and of Prosus since its listing in 2019. The company said Bob established the group as a leading global consumer internet company, creating significant value for shareholders. The…

Dublin-based online training platform Kubicle today announced that over 1,000 Capitec employees have completed more than 6,000 courses in data analytics. “We’re thrilled to be part of Capitec’s journey towards becoming a data-driven organization. Our platform aims to empower professionals with the skills they need in today’s digital age,” said Mark Henderson, CEO of Kubicle. “This milestone is a testament to the effectiveness of self-led online training in meeting the demands of a fast-paced work environment.” During the year, Capitec partnered with online learning platforms, including Udemy Business, Kubicle for data skills, as well as Cloud Masters. These platforms offer…

In a significant development, the Department of Higher Education and Training in South Africa recently inked a Memorandum of Understanding (MoU) with Russia’s Biotechnological University, commonly known as BioTech University. This landmark agreement paves the way for the establishment of the Centre of Open Education. The inauguration of the Centre for Open Education took place at the premises of the Empire Partner Foundation (EPF) in Illovo, Sandton. This collaborative initiative marks the beginning of a pilot programme conducted by EPF in partnership with BioTech University, with the shared aim of advancing education in science and technology. The official opening of…