Author: Gugu Lourie
Kia has today revealed full details of the Kia EV9, its first three-row seat electric flagship EUV. Based on the game-changing Electric Global Modular Platform (E-GMP), the EV9 ensures athletic performance, complemented by a targeted all-electric range over 541 km, according to the World harmonized Light vehicle Testing Procedure (WLTP). Ultra-fast 800-volt charging capability enables the EV9 battery pack to be replenished with sufficient charge to power the vehicle for 239 km in approximately 15 minutes. “The Kia EV9 transcends all aspects of traditional SUV thinking and represents the pinnacle of Kia’s design and engineering capabilities. Created to meet the…
JUWI Renewable Energies, a global solar, wind and hybrid project developer, EPC and operations and maintenance (O&M) company, today announced that the 84 Megawatt (MW) Wolf Wind Project in the Eastern Cape has reached financial close. Exploding public and private demand for large-scale renewables due to South Africa’s energy crisis has led to rapid expansion of the clean energy leader’s footprint across the country, with over 1.5 GW of wind, 2 GW of solar and 500 MW of hybrid projects incorporating storage in development for private and public energy users. The Wolf Wind Project, located two hours from the city…
G-Star RAW has once again pushed the boundaries of denim design with its latest project involving artificial intelligence. G-Star RAW utilized AI to create 12 unique designs, with one of them being brought to life in the form of a RAW denim couture piece. G-Star RAW is the first denim brand to actually create AI-designed garments in real life, and the Denim AI garment is a testament to the brand’s commitment to creating the future of denim. Innovation is ingrained in the G-Star DNA, and the use of AI in the design process showcases the brand’s willingness to embrace new…
GE HealthCare has signed an agreement with Axim Life Isotopes South Africa (ALISA), a joint venture between Life Healthcare and the AXIM Group of Companies, to expand provision of molecular imaging in South Africa with the delivery of two Cyclotrons, which produce radioisotopes enabling the production of tracing agents used in molecular imaging scans. GE HealthCare will deliver the Cyclotrons to ALISA’s laboratory facility in Midrand, South Africa early next year, giving patients in Africa access to medical advancements. Molecular imaging enables doctors and clinicians to see inside the body with a non-invasive process, helping to diagnose and treat diseases…
Two in three (64%) consumers in South Africa prefer using digital-only platforms when transferring money internationally, according to Western Union’s inaugural Global Money Transfer Index. When asked about the future, being able to choose between digital and in-person platforms grows in importance. South Africa has taken bold steps to rebuild the national economy and boost digital inclusion following pandemic lockdowns. As a result, it is increasingly moving to a remittance future that aims to realise financial inclusion and help grow the economy. Today, it is the largest ‘send’ market in Africa with USD 1.1 billion in outflows[1], and approximately 2.9…
Checkers Sixty60 will now give customers their delivery for free if an order arrives more than 30 minutes after the estimated time of arrival. Delivery will also be free if an order contains fewer than 80% of a customer’s first-choice products. This Service Guarantee is a first in the South African on-demand grocery delivery space. “Sixty60 is exceptionally confident in our ability to deliver the groceries shoppers want within 60 minutes. In South Africa this can be tricky at times given loadshedding-related traffic congestion, rainy weather and other challenges faced by drivers on the roads. Our north star is to make shopping effortless, and now we are giving customers the confidence to use…
South Africa-based payments infrastructure company Stitch today announced expansion to become an end-to-end Payments Service Provider (or PSP, defined as a third party that enables businesses to accept, manage and send digital payments through a variety of methods). This comes off the back of new solutions including pay-ins via Card and Debit Order, and payments orchestration and reconciliation system, PayOS. The Stitch payments suite is designed specifically for businesses with complex payments needs, offering flexibility and customisation. Stitch launched its first pay-in method, Instant EFT, in late 2021. They moved from a single-method provider toward a multi-method offering with the…
Tech consultancy giant Accenture announced today plans to retrench 19,000 people, or 2.5% of its workforce, as part of its actions to streamline operations and transform non-billable corporate functions to reduce costs. The retrenchments will be undertaken in the next 18 months, the tech giant informed investors in an SEC filing. Accenture added that it hire consultants to meet current and projected future demand. “We proactively plan and manage the size and composition of our workforce and take actions as needed to address changes in the anticipated demand for our services and solutions, given that compensation costs are the most…
JSE-listed firm Blue Label Telecoms announced on Thursday that Douglas Craigie Stevenson stepped down as CEO of struggling mobile phone operator Cell C. Blue Label Telecoms said Craigie Stevenson resignation is effective 31 March 2023. The company said Craigie Stevenson has elected to resign for personal reasons and to pursue other opportunities in line with his personal career goals. “We thank Douglas for his valued contribution and for successfully assisting in navigating Cell C through the recapitalisation process,” Joe Mthimunye, Chairman of the Cell C Board, said in a statement. “Through the implementation of Cell C’s new strategy, he has…
JSE-listed Metair CEO Riaz Haffejee resign to ‘pursue other opportunities more in line with his personal career goals’. The manufacturer, distributor and retailer of batteries and automotive components informed investors that the board has duly accepted his resignation and wishes him well in his future endeavours. Haffejee, who joined the company two years agao, will be available for a period of two-months up to the end of May 2023 to ensure a smooth transition and handover. Metair also announced that Sjoerd Douwenga, chief financial officer (CFO), has been appointed as interim CEO and as a member of the S&E Committee. Anesh…
MindGeek, a technology and media company, owner of a large portfolio of adult entertainment properties, including Pornhub, has been acuired by a Canadian private equity firm Ethical Capital Partners (ECP). The terms of the transaction are private and are not being publicly disclosed. “At ECP, we seek out innovative and ethically-driven companies that operate at the frontier of new, evolving industries. In MindGeek, we have identified a dynamic tech brand that is built upon a foundation of trust, safety and compliance, and with ECP’s resources and broad expertise spanning regulatory, law enforcement, public engagement and finance, we have a unique…
Financial services provider Sanlam has acquired half of mobile operator MTN ‘s insurtech platform aYo. The strategic alliance, which takes effect on 31 October 2022, will market and distribute insurance and investment products across Africa through MTN Group’s insurTech aYo, in which each partner will hold 50%. “The group entered into an agreement with Sanlam Emerging Markets Proprietary Limited (Sanlam) to sell 50% of aYo’s issued shares for S$40 million ( approximately R735 million translated at the signature date ),” MTN said on Monday. “Subsequent to the sale, a new shareholders’ agreement has become effective governing each shareholder’s rights in…
Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa, says collaboration between government, business and society is imperative if South Africa is to overcome the current electricity crisis gripping the nation. The Minister was speaking during the launch of the Resource Mobilisation Fund (RMF) on Thursday afternoon. The RMF is a collaborative effort between government and Business Unity South Africa (BUSA) to provide resources and expertise that will assist government to fully implement the Energy Action Plan. “The establishment of the Resource Mobilisation Fund is a significant step in this regard. It is only through a collective national effort that…
President Cyril Ramaphosa says government is working to build a public service staffed by men and women who are professional, skilled, selfless and honest. He said that this in order to build a capable developmental state for the implementation of the Economic Reconstruction and Recovery Plan (ERRP). The President said that this includes implementation of the Professionalisation of the Public Service Framework. The Framework proposes fundamental reforms, including a stronger emphasis on merit-based recruitment and appointments, integrity testing before recruitment, revising the tenure of Heads of Departments, and curriculum development for ongoing learning of public servants. President Ramaphosa was responding…
SAP today announced key data innovations and partnerships that give customers access to mission-critical data, enabling faster time to insights and better business decision-making. SAP Datasphere solution, the next generation of its data management portfolio, give customers easy access to business-ready data across the data landscape. SAP also introduced strategic partnerships with industry-leading data and AI companies – Collibra NV, Confluent Inc., Databricks Inc. and DataRobot Inc. – to enrich SAP Datasphere and allow organizations to create a unified data architecture that securely combines SAP software data and non-SAP data. Until today, accessing and using data located in disparate systems…
SEACOM, Africa’s telecommunications and managed services provider, today announced the company’s Group Chief Executive Officer, Oliver Fortuin, has resigned. Fortuin will continue to serve in his position until June this year, during which time he will continue to support the SEACOM board and also participate in the process to announce his successor, which the company expects to conclude in the coming weeks. Fortuin’s decision to leave SEACOM comes as a result of a decision to be closer to his adult children who have relocated overseas. “It’s been a privilege to lead SEACOM on this next stage of its development. SEACOM…
Nedbank, one of South Africa’s largest banks, says it had more than 2.6 million digitally active customers at the end of December 2022, a 13% increase from the same period in 2021. “Our digital initiatives helped us to increase the number of digitally active retail clients in SA by 13% to 2.6 million,” Nedbank said. “This now represents 39% of total active retail clients and 68% of retail main-banked clients. “Retail digital transaction volumes in SA increased by 18% and transaction values up by 16% ( up by 40% since 2019).” Nedbank added that digitally active customers across Nedbank Africa…
JSE listed REIT, Octodec Investments, today announced that it has been approved for a secondary listing on A2X Markets. The group informed shareholders that its primary listing on the JSE and issued share capital will be unaffected by the secondary listing on A2X. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the South African Financial Sector Conduct Authority in terms of the Financial Markets Act 19 of 2012. Also read: Octodec Launches Newly Upgraded, Landmark Shoprite Building In Tshwane CBD JSE listed REIT, Octodec Investments, today unveiled the new look and…
Nedbank’s Avo Super app has gained more than 2 million users since its launch on the app stores in June 2020, a 1.9-fold increase year-on-year and a near five-fold increase in the number of active users. Nedbank informed investors today that Avo now has access to over 12 000 drivers in its delivery fleet across the country as product orders continue to grow exponentially. By the end of 2022, more than 20 000 businesses (a 15% increase) were registered to offer their products and services on this e-commerce platform. Avo is a super app that allows customers to buy essential…
Paratus South Africa announces that construction of its latest multi-million-rand teleport in Doornkloof, Pretoria, has begun and is due for completion in August 2023. The new teleport marks another significant milestone in the company’s investment in its own infrastructure that will deliver reliable and quality satellite connectivity to South African businesses and consumers, even when power outages occur. Paratus South Africa – part of the pan-African Paratus Group – will be building the group’s largest teleport and strengthening its diverse offering of cutting-edge satellite communications services. Managing Director of Paratus South Africa, Kallie Carlsen, explains: “This project is important to…
President Cyril Ramaphosa is expected to announce a Minister of Electricity and a cabinet reshuffle “in a matter of days”. This is according to Presidential spokesperson Vincent Magwenya, who was addressing media on Wednesday. “There are vacancies in Cabinet. We also now have a vacancy in the role of a Deputy President and so there is a sense of urgency that the President fills those vacancies as soon as possible. In a matter of days, that announcement will be made. “The President has to apply his mind. The appointment of Cabinet members and the management of Cabinet is not something…
Telkom announce plans to hike its prices, for mobile, fibre, DSL and voice products. The the Mobile, DSL & Voice portfolios price increases are effective 1 April 2023 and FTTH (Fibre to the Home) products effective 1 May 2023, respectively. With an inflation rate sitting at a record 13-year high, price increases are necessary and unavoidable to ensure long-term business sustainability. Like many other South African companies and enterprises, Telkom has been impacted by the pressures driven by prevailing macroeconomic dynamics. The imminent price increases across fixed voice, ADSL, FTTH and mobile offerings will ensure continued quality service to Telkom’s…
Money transfer company Zepz – formerly known as WorldRemit – is looking for more acquisitions and tech talent in Africa. Zepz recently acquired IMGN Technologies, a South Africa-based software development company with 31 software engineers. Terms of the acquisition were not disclosed. London-based money transfer company Zepz is set to play an important role in supporting the 2023 client acquisition and retention plans with its investment in technical talent in Africa. Zepz, which operates through WorldRemit and Sendwave, says it is committed to growing its footprint, introducing new products, and optimising them on the African continent.…
Eskom on Friday morning announced the appointment of Calib Cassim as Interim Group Chief Executive Officer with immediate effect. The power utility is currently implementing Stage 6 load-shedding. Eskom said in a statement that Cassim will lead the Eskom management team until further notice. Cassim was appointed as Eskom’s Chief Financial Officer (CFO) in November 2018 after serving as Acting CFO from July 2017. He is a registered Chartered Accountant (SA) and holds a master’s degree in Business Leadership (MBL). With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr Cassim with a deep…
JSE listed REIT, Octodec Investments, today unveiled the new look and feel of its Shoprite building in the heart of the Tshwane CBD – a R60 million investment project announced in August 2022 to boost and uplift the bustling central node. Jeffrey Wapnick, MD of Octodec, says, “This project cements our commitment to the City of Tshwane which continuously presents growth opportunities for our already dominant inner-city retail and residential portfolio. It represents a renewal of our relationship and an upgrade of our service to a city that is increasingly attracting national retailers”. “We are excited to see this new…