Author: Gugu Lourie
In an effort to strengthen South Africa’s position as an attractive investment destination, Transnet sponsored the fifth South Africa Investment Conference 2023 in Johannesburg. More than 1000 delegates from various industries in South Africa and around the world attended the conference. The theme of the conference was “Accelerating Economic Growth by Building Partnerships”. Transnet is South Africa’s state-owned logistics infrastructure company responsible for the port, rail and pipeline network aims to increase direct investment and foster partnerships with the private sector. Transnet’s participation at the event was opened by the Group CEO, Portia Derby, who participated in the SAIC Breakaway…
Capitec Bank announced that its retail customers using digital channels increased by 13% or 1.3 million new customers to 11.4 million by the end of February 2023, up from 10.1 million in 2022. The banking group, which aims to provide a no-frills, digitally-led banking solution, said its total active customer base grew by 11% to 20.1 million compared to 18.1 million in 2022. Capitec Bank’s long-term strategy is to move customers to more affordable and secure digital solutions. “The price changes in our banking fees during March 2023 reflected our long-term strategy with digital transaction fees remaining flat while cash-related…
Capitec today announced that its prepaid mobile service Capitec Connect has issued 500 000 SIM cards to subscribers by the end of February 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. The bank claims that its prepaid mobile service offers flat, low prepaid data rates and no top-up charges. “Capitec Connect data…
MTN today announced the appointment of an insider, Abbad Reda, as the CEO of Zambia operations. Reda will replace Bart Hofker. His appointment is effective May 1, 2023. With more than 20 years of experience, Abbad has successfully delivered market share, revenue, and profit growth. Abbad joined MTN Group in 2002 and has held several senior positions, including Chief Information Officer for MTN Ghana, CEO for MTN Liberia, and is currently the CEO of MTN Afghanistan. Abbad holds an Executive MBA from CEIBS and a Bachelor of Engineering in Computer and Communication Engineering. He has also participated in MTN’s Global…
Secha Capital and Hassium Capital took a big bet on FarmTrace, a South African agri-tech farm solution. The companies are investing an undisclosed amount of capital into FarmTrace, which is based in Tzaneen, Limpopo and Stellenbosch, Western Cape. FarmTrace is the only cloud-based farm management tool that offers a diverse range of tools to help farmers manage their operations. Jacques du Plessis, FarmTrace co-founder and CEO said, “FarmTrace started in 2015 and we have boot-strapped exponential growth by working intimately with our clients to solve their needs. We have a long back-log of interested farms, so we decided to raise…
Google TV is introducing over 800 new free TV channels and the service is making it easier to browse through content via a revamped Live tab. “These days we have more ways to stream movies and TV shows than ever — but as streaming services multiply, so do our monthly bills. Luckily, there’s been an increase in the number of free TV options available, offering everything from local news and popular shows to hit movies. But with all the choices out there, it can be hard to know what’s available and how to find it,” the company said. “That’s where…
In the first quarter of 2023, the BMW Group sold a total of 64,647 fully electric vehicles from the BMW and Mini brands, more than twice as many as in the same quarter in 2022. “Our strong product lineup continues to inspire our customers worldwide. Our fully-electric vehicles, in particular, are benefiting from high demand around the globe. We were therefore able to maintain the dynamic pace of our electromobility ramp-up in the first quarter,” said Pieter Nota, member of the Board of Management of BMW AG, responsible for Customer, Brands, Sales. “The BMW Group is on track for slight…
MTN South Africa has launched five new uncapped home internet products, starting from only R249pm. The MyMTN Home Internet Starter, Pro, Premium, Ultra and Infinite offerings are all month-to-month plans – meaning that you pay monthly, you can cancel anytime, and you get a free to use router. With these products, MTN aims to change the way customers work, study, play and enjoy social media and streaming apps at home with an ultra-fast and ultra-reliable broadband connection at affordable prices. “Our aim is to make every home a ‘digitally connected’ home”, says Ernst Fonternel, Chief Consumer Officer at MTN South…
Talent acquisition is a pressure cooker. And the pressure is rising. There is a scarcity of skills and cultural fit. This is compounded by high staff turnovers, exhausted teams and urgent deadlines. Often, it’s the job of a tiny talent team to alleviate this pressure and fill the mounting gaps. On average, South African talent acquisitions teams are flooded with 1 400 CVs per advertised vacancy. This number escalates to 20 000 CVs for high volume roles like internships. Finding the right match takes time but with time comes the potential of losing talent. The top 10% of candidates are snapped up…
Liquid Intelligent Technologies, , a business of Cassava Technologies, a pan-African technology group, signed a Memorandum of Understanding (MOU) with the Government of Zambia to accelerate the country’s digital transformation and provide reliable and affordable connectivity to all Zambians. The agreement builds on Liquid’s already extensive investments made since it opened its doors in Zambia in 2011. In the MOU, Liquid Zambia has committed to launching a new data centre that can respond to increasing data-hosting needs from local businesses and hyperscalers establishing their presence in Zambia. Planned expansion of Liquid’s fibre network will see the connection of more towns…
Vehicle tracking and telematics company Netstar, a subsidiary of Altron, in partnership with Vodacom Business, is empowering taxi commuters across the country through the use of a free in-taxi connectivity service, WiTaxi. Through this partnership, passengers can access free Wi-Fi from their personal devices during their daily commutes, turning often lengthy travel time into productive time, when commuters can get work done and even connect with family and friends. The in-transit connectivity also addresses safety concerns for taxi owners, drivers, and commuters, mitigating risk, as the platform can assist in mapping road hazards such as potholes, traffic and accidents. “South Africa’s…
Osidon, in association with Discovery SA, today announced the launch of an innovative and tax advisory solution that will benefit individuals — as well as business taxpayers of South Africa by leveraging bespoke artificial intelligence software, advanced analytics and data. Using this next generation technology, financial consultants will be able to offer the highest quality of customer service in both tax and financial advisory — with the aim of achieving savings for clients on their taxes, insurance and overall financial position. “For the customer, this means an integrated service with a holistic view of all products that impact individual tax as a…
Bolt, an on-demand mobility platform, has partnered with the Automobile Association (AA), the trusted safety champion of South African motorists and travellers for over 90 years, as its new emergency response services provider. The AA’s emergency response services can be accessed through the SOS button located within the Bolt app’s Safety Toolkit. This feature will enable drivers and passengers to connect quickly and easily 24/7 to private armed response teams and private emergency medical rescue if they are involved in any medical or security emergency while on a Bolt ride, at no cost. Willem Groenewald, CEO of the AA South…
South African FinTech start-up Peach Payments has bagged $31 million or R550 million in Series A funding led by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (Apis Partners), a UK-based asset manager. The startup was set up in South Africa in 2012. Peach Payments is a payment gateway offering simple, seamless and secure online payment services that enable businesses to easily accept payments on their websites and mobile apps, integrating with leading e-commerce platforms like WooCommerce, Shopify, Wix and Magento. The company is a rapidly growing digital payment service provider that enables online payments…
Western Digital Corp., a Nasdaq-Listed data storage giant, today provided information regarding a network security incident involving some of its systems and the company’s active response to this matter. On March 26, 2023, Western Digital identified a network security incident involving Western Digital’s systems. In connection with the ongoing incident, an unauthorized third party gained access to a number of the Company’s systems. “Upon discovery of the incident, the company implemented incident response efforts and initiated an investigation with the assistance of leading outside security and forensic experts.,” said the company. “This investigation is in its early stages and Western…
MICT SETA has partnered with Empire Partner Foundation, a non-profit organisation focused on technology, to provide work-integrated learning programmes for university students to help close the skills gap and reduce the unemployment rate. About thirty students from Tshwane University of Technology in South Africa have already benefited from this work-integrated learning programme. Currently, more than half of young people do not have the necessary skills to succeed in industry IT. The programme offers students the opportunity to find employment in the technology sector as it further educates them with the knowledge gained at Tshwane University of Technology. MICT SETA focuses…
In an increasingly digital economy, accelerated by the Covid 19 pandemic, collaboration between the private sector and governments in Africa has intensified to drive digital and financial inclusion on the continent. Financial inclusion in particular is both a prerequisite and a key enabler for achieving many of the UN’s Sustainable Development Goals (SDGs), including reducing poverty, boosting economic growth and promoting market access. To this end, several governments, including Kenya and Tanzania, have not only embraced digital transformation, but over the years have also put in place sound and enabling policy frameworks to enable innovative solutions that empower citizens. For…
Ramp – a forecasting decision science startup that is transforming how global finance teams plan for the future – has closed a $5 million or R90 million seed round, which it intends to utilise to streamline the onboarding of new clients to allow for scale. Ramp was created in 2018 when its founders realised that the root cause of poor revenue forecasting is that, in 99% of businesses, the financial modelling still takes place on spreadsheets that are no longer fit for purpose. They found that spreadsheets are largely inaccurate, time-consuming and open to ‘subjective’ interference from different areas of…
SEACOM, Africa’s telecommunications and managed services provider, today announced that Alpheus Mangale, is joining SEACOM as incoming Group Chief Executive Officer, effective 1 April 2023. He is a seasoned business leader with over 25 years’ experience across the enterprise, telecoms, financial services and technology markets across Europe, the Middle East, and Africa. He will work alongside the company’s outgoing Group Chief Executive Officer, Oliver Fortuin, for a three-month period to ensure a smooth leadership transition, at the end of which he will assume full responsibility for the business. “I am delighted to join SEACOM at this critical time in Africa’s…
TROOP, the award-winning global developer of corporate meeting technology and services, has announced that it has secured $11m (R201m) in Series B funding. This funding will contribute towards expanding the company’s presence in South Africa and globally. TROOP plans to engage with engineering and product talent in South Africa and double its current employee base in 2023, as well as build a team of 170 people globally by 2025. TROOP has entities in the USA, Spain, South Africa, and the UK. TROOP’s technology platform helps companies plan, book, expense, and manage logistics for in-person meetings. The demand for group meetings…
The Shoprite Group has launched UNIQ, its new clothing brand fashioned on simplicity, comfort, superior fabrics and value. The first standalone UNIQ store opened in Cape Town’s Canal Walk shopping centre with another eight stores scheduled to open in the next month. Catering for the entire family, the UNIQ range consists of premium basics in a variety of colours and fabrics that are easy to mix and match. Every item of clothing is thoughtfully designed and made to last, pairing durable fabrics with stylish and versatile designs. UNIQ has sourced materials specifically engineered for comfort and convenience, and it is the first local clothing retailer to introduce Supima cotton to the mass market. With longer fibres than regular…
MINI South Africa has teamed up with Red Bull to launch the country’s first MINI-branded solar-powered electric vehicle (EV) charging station in Cape Town. Head of MINI South Africa, Shaun Willis noted: “MINI and Red Bull have a long-standing relationship, forged 17 years ago in California when the first MINIs were converted into the iconic Red Bull MINI. There has always been a strong union between our brands, and this collaboration on our first solar-powered charging station is further evidence of this in South Africa.” The launch of the first solar-powered charging station is another sign of MINI’s pledge to…
MpiloTech, a fast-growing, medium-sized, specialist software development company, has added two new executive roles as it gears up for expanding its digital banking services to the financial services sector. “More so than ever banks and other financial service providers are continually bolstering their digital services offerings in an extremely competitive trading environment and where cyber security threats are becoming increasingly sophisticated. This creates a massive growth opportunity for us as our technology is capable of addressing such challenges with laser-focussed solutions and mitigations,” says CEO and Founder Denzil Fillis. MpiloTech services companies such as Standard Bank, Absa, Discovery, Grindrod Bank…
k’nect mobile, the Shoprite Group’s cellular network, has slashed its data prices by more than 35% to now offer the lowest data rates in South Africa, with 1GB starting from as little as R19.50. Data bundles from k’nect mobile also only expire after 60 days, instead of the more common 30-day period. “With soaring living costs, our customers want and need affordable data which doesn’t expire in a matter of days,” explains Jean Olivier, GM: Financial Services for the Group. “Shoprite is South Africa’s low-price champion, and that extends to our growing suite of fintech products which is driven entirely by customer needs.” Launched 24 months ago,…
Coaxle, the integrated data and insights company, has recently acquired a 50% stake in iX, a specialist provider of digital solutions, primarily to the retail automotive industry. The acquisition will strengthen the synergies between iX and long-standing partner Lightstone, a provider of comprehensive data, analytics and systems in the automotive and property sectors. The acquisition enables a broader and deeper value proposition as it creates cross-selling opportunities and will provide value to motor dealers through an enhanced stock management process, optimised digital customer engagement capabilities and streamlined finance and insurance application processes. “Coaxle is dedicated to the sustainability of the…