Author: Gugu Lourie

JSE- and A2X-listed retailer Pepkor anticipates robust revenue growth for its FinTech division in its financial results for the year ending September 2024. Operating through its brands FLASH and Capfin, Pepkor has successfully expanded its presence in the financial services sector. In a recent trading update, Pepkor revealed that revenue in its FinTech segment surged by 26.8% to R12.7 billion for the year to September. The company attributes this strong performance to its ability to rapidly attract new customers through its extensive retail network, enabling growth in both financial services and mobile connectivity. Pepkor also highlighted its FLASH business, which…

Altron, a JSE-listed technology group, has reported a 10% increase in revenue for its Platforms Business, reaching R1.9 billion for the six months ending on 31 August 2024. The Platforms Business’s EBITDA (earnings before interest, tax, depreciation, and amortization) grew by 37% to R776 million, while operating profit rose 47% to R415 million. Altron’s Platforms Business comprises Netstar, Altron FinTech, and Altron HealthTech. Valued at R7.6 billion on the JSE, Altron invested R359 million in capital expenditures during this period, dedicating R330 million to growth-focused initiatives. This investment includes R211 million allocated to Netstar’s capital rental devices and R65 million…

Phuthuma Nathi, MultiChoice’s broad-based black economic empowerment (BBBEE) share scheme, is urging 18,000 shareholders to come forward and claim their uncollected dividends. With over R240 million in unclaimed dividends, Phuthuma Nathi is calling on eligible shareholders to secure their earnings and maximize the benefits of this empowerment initiative. Since 2020, Phuthuma Nathi has been running a nationwide media campaign to locate shareholders who are owed dividends from as far back as 2006. Despite significant progress, a large portion of these funds remains unclaimed. “We are determined to find these shareholders and ensure they receive what is rightfully theirs. We’ve been…

OM Bank will target customers earning between R5,000 and R80,000 per month, says CEO Ian Williamson, who described launching the bank as a “no-brainer” given Old Mutual’s extensive banking activities. “Our unsecured lending book is sitting at R16 billion. We have about 400,000 active transactional account users in our transactional banking solution, which we do under Bidvest,” Old Mutual CEO, Ian Williamson told Business Times. Old Mutual also offers a home loan product with SA Home Loans. “We have a lot of the components of banking… We have not brought those things together in one cohesive entity,” he added. The…

In a bid to grow its presence in South African townships, Takealot is recruiting 1,000 last-mile delivery drivers in Mpumalanga, with plans to expand nationwide, reports the Sunday Times Business Times. The initiative, launched in collaboration with the Mpumalanga provincial government, offers residents new opportunities in the ecommerce sector. “This is the second province where the project has been launched, [but] it will eventually reach the rest of the country,” says Tshepo Maramule, Takealot’s head of external affairs and public policy. “These drivers will not only work for Mr D, they will also deliver parcels to consumers from Takealot,” Maramule…

Payfast, a company owned by fintech operator Network International, is set to transform SA’s digital payment landscape by offering free Point of Sale (POS) devices to local merchants. Traditionally, small businesses owners or merchants had to purchase POS systems upfront or pay monthly rentals, plus transaction fees, to accept card and digital payments. Additionally, the POS device expands merchants’ revenue streams by enabling them to purchase airtime, data, lottery, and betting vouchers directly. Payfast is South Africa’s leading online and ecommerce payment service provider that enables digital payment solution for merchants, individuals, NPOs and businesses of all sizes . Its…

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…