Author: Gugu Lourie

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…

JSE-listed Sasfin announced today that Gloria Serobe will be appointed as chair of the Board of Sasfin Wealth, a wholly owned subsidiary of Sasfin, with immediate effect. Gloria is a founding member and CEO of Women Investment Portfolio Holdings Pty Ltd. She obtained a BCom degree from the former University of Transkei and holds an MBA degree from Rutgers University, New Jersey USA and has been conferred the degree of Doctor of Philosophy (honoris causa) by the Nelson Mandela University. She is one of the co-founders of Women Investment Portfolio Holdings (Wiphold) – the first women’s group established post-1994 to…

What’s it like to stay at the new Embassy Suites By Hilton Dubai Business Bay? Well, imagine checking into a hotel where everyone greets you with a smile so warm you’ll think you just walked into your own family reunion, except with better views. Yes, Hilton has truly outdone itself with this 30-story gem in the heart of Business Bay in Dubai. From the moment I stepped in, I felt like Hilton was channeling its founder, Conrad Hilton’s, dream of running the best hotel on Earth (or at least in Texas, originally). If he were around today, I think he’d…

Prosus and Naspers CEO Fabricio Bloisi has marked his first 100 days at the helm by sharing an update with shareholders. In his letter, Bloisi outlined his ambitious vision for the future, stating that Prosus, currently valued at around $100 billion, is set to drive further growth. He emphasized his commitment to creating another $100 billion in value by focusing on building and investing in fast-growing, profitable businesses. Bloisi also reassured shareholders that these efforts would generate substantial returns, reinforcing his focus on long-term value creation. Read the letter below: First 100 Days @ Prosus Dear Partners, Hello! I hope…

Following a solid performance in August, the South African automotive segment experienced mixed results in September 2024, with minor increases in new car sales and a subtle downturn in the used car market.  According to the latest sales data from AutoTrader, the used car market recorded 28,609 units sold in September 2024, a -9.6% year-on-year drop from the 31,636 units sold in September 2023. When compared to August 2024, which saw 31,877 used car sales, the market experienced a decline of -10.3% month-on-month. According to naamsa | The Automotive Business Council, the new car market posted a +2% year-on-year growth in…