Author: Gugu Lourie

Throughout its launch across Africa, top global streaming platform Spotify has demonstrated its commitment to bolstering the careers of African creators through on- and off-platform support programmes. In line with this, the company has announced a first-of-its-kind podcast initiative on the continent, the Africa Podcast Fund, with the goal of supporting podcasters and further amplifying their stories. The $100,000 or R1.8 million fund aims to bolster the careers of these podcast creators through financial grants, workshops and networking opportunities. The Africa Podcast Fund is offered to select creators from African countries with the biggest podcast listenerships, namely South Africa, Nigeria,…

Telkom announced on Wednesday that MTN had halted talks over its proposed takeover of the country’s biggest fixed-line telephone group. “MTN terminated discussions in relation to the MTN Proposal on 18 October 2022, as Telkom was not in a position to provide MTN with assurances around exclusivity,” Telkom informed investors. Discussions were at an early stage and had not progressed to due diligence nor had a binding offer been received by the Telkom board, said the company. “The Telkom Board has a legal and fiduciary duty to consider all bona fide offers. Shareholders are therefore advised that they no longer…

Struggling Eskom implemented Stage 4 load-shedding early Tuesday morning. The power utility said five generation units at five power stations broke down overnight. Eskom said as a result of the breakdowns, Stage 4 load-shedding was “implemented from 5-30 this morning until further notice”. Also read: Eskom Signs Leasing Agreements With Renewable Energy Companies ESKOMhas signed leasing contracts with four renewable energy companies to build new renewable energy facilities on land owned by the power utility. The four companies – HDF Energy SA, Red Rocket SA, Sola Group and Mainstream Renewable Power Developments SA – are expected to be connected to the national grid within 24…

Naspers through its Dutch-based technology investor Prosus is selling its Russian classified business Avito for RUB 151 billion or R45 billion to Kismet Capital Group (Kismet). Kismet is a private investment group with a track record of investing in technology and telecommunications businesses in Russia. All relevant regulatory approvals have been received. The South African-based group said the closing pf the deal is expected to occur in October 2022. “Since announcing our intention to sell Avito on 20 May 2022, our aim has been to manage the sale of the business in a responsible and orderly way,” said Naspers. “We…

Lexus today announced the global debut of the new Lexus UX 300e, a significant evolution of the brand’s first production BEV model. Globally, the updated UX 300e will join the new UX 200/250h announced earlier this year, with deliveries scheduled to begin in later in 2023. Lexus South Africa plans to introduce a big spec change before the end of the year. Since the 2005 launch of the RX 400h, the world’s first hybrid SUV, Lexus has been a pioneer of electrification in the luxury market. Based on the electrification vision “Lexus Electrified” announced in 2019, Lexus aims to meet…

Mineworkers Investment Company (MIC) has invested an undisclosed amount for a 24.85% stake in TooMuchWifi, a network infrastructure and communications company. TooMuchWifii has been announced as the latest investment in the impact investing portfolio of MIC. The strategic investment will play a major role in enabling the Cape Town-based business to achieve its ambitions of providing economic internet solutions to all South Africans. This funding will be used to appoint a South African CEO and expand the local leadership team to drive expansion. The company that was established back in 2016. TooMuchWifi was conceptualised by Ian Thomson and Jonathan Endersby.…

German carmaker Mercedes-Benz deliveries reach 517,800 units or up 21% in Q3 in a volatile market with ongoing semiconductor supply bottlenecks. Mercedes-Benz added that EV ramp-up continues with Q3 Battery Electric Vehicle (BEV) sales more than double to 30,000 units or up+115%. Mercedes-Benz is transforming at full speed. On the way towards a fully electric future, Mercedes-Benz Passenger Cars increased BEV sales between July and September to 30,000 units, up 28% compared to Q2 and an increase of 115% compared with the year-earlier period. In the first nine months, sales of BEVs doubled to 75,400 units (+126%). September deliveries of…

The 100% Witwatersrand University-owned digital incubation hub, Tshimologong Digital Innovation Precinct, and the Embassy of the Kingdom of the Netherlands, Pretoria, announced the call for entries for their Digital Twin Hackathon. Entries are open to 15 students from South Africa and 15 students from the Netherlands. The Digital Twin Hackathon holds the potential to benefit policy-making for the City of Johannesburg. 30 university students hold the power to combine their diverse experiences to solve problems that could change the narrative of municipalities in South Africa. The goal is to transform their hypotheses into theories and, ultimately, action. “Globally, the use of…

Pepkor IT, a division of JSE-listed retailer Pepkor, says it is continuously growing and seeking talented and skilled individuals to bring positive energy to its culture. On its website, Pepkor IT said it researches modern technologies and applies best practices to develop a centralized infrastructure that reduces costs and strengthens productivity for the Pepkor global group. Pepkor is a retailer with 28 million in-store customers and a footprint of 5,400 retail stores. The company owns stores such as Pep, Ackermans, Shoe City, etc. Pepkor IT said it was looking for a skills base in the following areas: Integration Developer Senior…

The City of Tshwane on Tuesday imposed a Stage 2 water restriction that includes a ban on the use of hosepipes to wash cars, clean driveways or patios, and fill up swimming pools. The move follows a notification by Rand Water, the water utility, informing the City of Tshwane, City of Johannesburg, and City of Ekurhuleni about the implementation of Stage 2 water restrictions. The water utility indicated that it had noted over the last 2 weeks that water consumption had increased significantly resulting in a decline in their overall reservoir storage capacity from 52% to 38%. Rand Water said…