Author: Gugu Lourie

Microsoft is buying 4% equity stake in London Stock Exchange as part of its data cloud deal  to jointly develop new products and services for data and analytics. The tech group is buying the stake from York Holdings II Limited and York Holdings III Limited, entities owned by certain investment funds affiliated with Blackstone, an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte. Ltd, and by Thomson Reuters, the former Refinitiv shareholders. London Stock Exchange and Microsoft have agreed to co-invest in the product development roadmap for the data platform, Workspace, and analytics initiatives.. Satya…

No more time-consuming shopping queues, hour-long waits or crossing fingers for an available delivery slot. Grocery deliveries just became simpler and faster with the launch of on-demand shopping app Yassir Express, which went live last week in Gauteng. Yassir Express offers a one-stop shop for thousands of products including everything from nappies and pharmacy items to pet food, fresh fruit and vegetables, and meat – all delivered right to customers’ doorsteps in just under 30 minutes. Yassir South Africa General Manager Timothy Kiluba notes that speed, variety, and affordability have been central to Yassir’ meteoric popularity in other African markets,…

ChatGPT, created by a company called OpenAi, is the viral AI tool that is immensely powerful and useful in many ways. The software is designed to generate human-like responses to a wide range of inputs by using algorithms. The groundbreaking AI Bot can answer questions on various topics or solve coding problems. Users can also ask the AI to write essays, poems, scripts, or even translate or summarise the text. OpenAI’s mission is to ensure that artificial general intelligence (AGI)—by which we mean highly autonomous systems that outperform humans at the most economically valuable work—benefits all of humanity. ChatGPT was…

Clean technology startup ScarabTech has announced today the successful raise of seed funding from the GIIG Africa Fund. The investment marks the company’s first equity-led round following initial funding from various angel investors, with the capital to be used to finance the development of several commercial projects across Africa, Asia and the Australian subcontinent over the coming year. Founded in 2018, ScarabTech specialises in the production of small-scale and highly efficient plastic-to-energy units called ‘Beetles’. Developed using special software algorithms and design, these machines heat plastic waste, creating a vapor that is then captured and reconstituted into carbon-neutral fuel that…

TymeBank, one of South Africa’s digital banks, has attracted 220 000 new customer in October 2022. The digital bank owned by billionaire Patrice Motsepe was launched in February 2019. “TymeBank continues to sustain its onboarding of new customers,” African Raibow Capital Investments informed investors today. “In October the company reported that approximately 228 000 new customers were onboarded for the month, which represents a record level in the number of new customers onboarded in a single month. This compares to the average rate of 130 000 to 140 000 customers onboarded per month in the first half of 2022. ” The company added that…

The 2022 South African Digital Customer Experience Report, released in August of this year, revealed that a brand’s delivery experience was among key reasons why consumers would shop from them again. According to 66% of the survey’s sample, delivery value was critical to their repeat purchase while 81% of those surveyed said they shop online for convenient home deliveries. These insights are invaluable to any brand that has an ecommerce arm – which, thanks to Covid, most now do. Delivery is as much an importance to the buyer as the customer journey of the site is, the price and quality…

State-funded low-cost Community WiFi technology provider, Fibrepoynt, has announced the appointment of Mpho Sefalafala the CEO. Sefalafala’s appointment follows the end of term for Eduard Walker, an innovative engineer and telecoms industry stalwart, who has led the company through the technology development, validation and pilot phases. Sefalafala’s appointment is effective from 15 June 2022. Sefalafala has vast experience in technology entrepreneurship, business incubation, funding and enterprise development, and has over the years, assisted several early technology enterprises to build and commercialize their projects. He has also been an influencer and shaper within the entrepreneurial ecosystems in Gauteng through mentorship, policy development…

Neobank Be Mobile Africa has announced the launch of its cryptocurrency payments gateway which will allow businesses and merchants in Africa to accept and make payments with Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), as well as USD stablecoins such as USDC and USDT. Customers will be able to automatically convert incoming crypto payments in ZAR, USD or EUR or have the option to keep crypto with Be Mobile Africa providing full custody. “International payments have always been a pain point for African SMEs. Sending or receiving money from customers outside of one’s country is expensive and often…

Community Holdings No 1 Proprietary Limited (CIH) plans to delist Jasco Electronics (Jasco) from the JSE. CIH, which was founded by buiness women Dr Anna Mokgokong, announced today that it will make a general offer to the holders of Jasco ordinary shares and to consequently terminate the listing of the company’s ordinary shares on the JSE. CIH will offer to purchase all of the issued Jasco ordinary shares for a consideration equivalent to 16 cents per Jasco ordinary share. The offer consideration represents a 4% premium on the 30-day weighted average traded price of Jasco shares on 2 December 2022,…

Vodafone Group announced today that Nick Read has agreed with the board that he will step down as Group Chief Executive and as a Director of Vodafone on 31 December 2022. Read be available as an adviser to the board until 31 March 2023. Margherita Della Valle has been appointed interim Group Chief Executive. She will accelerate the execution of the Company’s strategy to improve operational performance and deliver shareholder value. In addition to being appointed interim Group Chief Executive, Margherita Della Valle will also continue as Group Chief Financial Officer. The Board has initiated a process to find a…

MTN Group emerged victorius in a R73 billion lawsuit initaited 10 yeears ago by Turkish operator Turkcell. Turkcell and East Asian Consortium, or EAC had initiated action against it and certain of its subsidiaries in 2013, seeking damages over allegations of impropriety in the award of the first private mobile telecommunications license in Iran. In 2020, Turkcell withdrew as a plaintiff, leaving EAC as sole plaintiff. The court dismissed the action without costs on Wednesday, ending the litigation. “In a judgment handed down by the High Court of South Africa on 30 November 2022, EAC’s action against MTN has been…

Truworths has been approved for secondary listing on A2X Markets and its ordinary shares will commence trading on the stock exchange from 5 December 2022. Truworths will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X. Founded in 1917, the company listed on the JSE and the Namibian Stock Exchange in 1998. The Truworths International Group is one of the leading fashion retailers in Africa with 785 mainly Truworths and Identity stores, together with 92 Office stores and concessions in the UK, Germany and the Republic of…

Vodacom has launched a patient engagement solution which includes a computer-aided emergency services dispatch system, a first for South Africa’s public healthcare sector. Together with the Northern Cape Department of Health, and under the leadership of the acting head of the provincial health department, Riaan Strydom, Vodacom has created an end-to-end technology solution to make the province’s healthcare services more accessible. The launch, which took place in the Northern Cape, at the Provincial Health Offices highlights how public-private partnerships can spearhead innovation and ultimately save people’s lives. “Since 2019, Vodacom and the Northern Cape Department of Health have been hard…

Telkom today reported less than half the earnings it had in the same quarter a year ago and announced the resignation of its chairman Sello Moloko. The company said headline earnings per share – South Africa’s main profit gauge – dropped by 51.9% to 137.2 cents a share for the six months to end-September 2022. Telkom also reported that group revenue down 0.7% to R 21.2 billion and EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) down 17.3% to R4.9 billion. The decline in EBIDTA of 17.3%, partially offset by lower finance charges and fair-value movements, resulted in a decline…

Telkom announced today that its chairman Sello Moloko has resigned due to workload reasons. Moloko will step down as chairman of the partially state-owned telco by no later than 31 March 2023. Moloko is also the chairman of Absa. He took the reins on Absa’s board in April from Wendy Lucas-Bull. Moloko was appointed as the chairman of Telkom board on 20 March 2018 and became Chairperson of the Board in June 2019. He served as a Member of the Remuneration Committee and Chairperson of the Nominations Committee. “Sello Moloko has informed the Board of his intention to step down…

JSE-listed low-cost retailer Pepkor announced today that its FinTech business Flash now supports 202 000 traders in the informal market and is immersed in the South African informal market. “The average turnover generated per trader improved by 12% during the year,” said Pepkor. “Flash’s understanding of consumer needs, the technology used and their extensive interconnected network of partners work to better connect the informal and formal market sectors.” Pepkor owns PEP, Bradlows, Ackermans, Capfin, Incredible Connection, Hi-Fi Corp, Rochester, Timbercity and Shoe City. Shop owners can use the Flash devices to increase their business by offering multiple services to attract…

Black Friday and Cyber Monday are just a few days away, so Ookla –  which owns and operates the popular speedtest.net Internet speed testing service – wanted to help you navigate those deals with hard data on the fastest 5G popular devices. Ookla used Speedtest Intelligence to look at 5G performance data in the 10 countries with the highest number of connected mobile devices according to GSMA that also had an established 5G market during Q3 2022. As a reminder, Ookla already looked at the newer models in the Apple iPhone 14 and Samsung Galaxy Z Fold4 earlier this quarter, right after both…

Contro, a South African telehealth start-up that focuses on sexual health and confidence treatment services, has announced the close of their oversubscribed pre-seed funding round, raising a total of R10.1 million. Investment was raised from four international and local VCs, including Plug & Play, iCubed Capital, WZ Capital and the Jozi Angels Network, prominent local and international Angels, and Contro received grant funding from the i3 fund backed by the Bill & Melinda Gates Foundation. Contro launched in June 2021 and currently offers six services including subscription services for birth control, erectile dysfunction treatment and hair loss treatment, as well…

Super app Yassir, the most valuable startup in North Africa, has announced that it will soon be launching its on-demand grocery delivery services in South Africa. Founded in 2017 by Algerian native and Stanford PhD Noureddine Tayebi, the Yassir mobile app has quickly taken the continent by storm, expanding its footprint to six countries and 45 cities where it is used by more than eight million users. ‘Yassir’ means ‘easy’ in Arabic, which speaks directly to the company’s mission to make people’s lives easier, explains Yassir South Africa General Manager Timothy Kiluba. “More than another grocery delivery service, Yassir aims…

Telkom on Monday warned investors that it headline earnings per share (HEPS) for the six months to end-September 2022 will be cut by 55% compared to the prior interim period in 2021. HEPS is South Africa’s main profit gauge. Telkom advised shareholders that reported HEPS and reported basic earnings per share are expected to decrease by between 45% and 55% compared to the prior interim period ended 30 September 2021. Telkom attributed the expected loss mobile postpaid vs prepaid mix changing which had the impact of deferring revenue over 24 – 36 months, as well as the cost base increasing.…

Vodacom announced today that its Financial Services business reported a 19.2% rise in revenue to R4.4 billion fuelled by insurance business, with policies up 19.4% to 2.6 million and a recovery in Airtime Advance revenue growth. The Vodafone-owned company added that normalised M-Pesa revenue growth accelerated to 20.4% in the second quarter, as Tanzania lapped mobile money levies imposed in July 2021 and its new financial services continued to scale. New financial services such as loans and merchant services contributed more than half of M-Pesa revenue growth in the period. The group said Safaricom generated financial services revenue of R7.9…

Vodacom announced today that it has invested over R2 billion in batteries alone to enhance the resilience of our network so that we keep customers connected during extended periods of loadshedding. “At the same time, we continue to work closely with Eskom to find a renewable energy solution for the benefit of our planet and customers, having announced in September 2022 an in-principle agreement with South Africa’s energy utility to pilot a programme that would see Vodacom South Africa source its electricity from renewable independent power producers and contribute this into the national grid,” Shameel Joosub, Vodacom’s CEO informed investors…

The state’s role in terms of what we call regulation should change to be an enabler. This is the view of Andile Ngcaba, the executive chairman and founder of private equity firm Convergence Partners, noting that the telecommunications industry should strive to remove the word regulation in-laws, vocabulary, and terminologies. Ngcaba participated in a roundtable on “Looking Back, Going Forward: How Africa’s Tech History Contains the Roots of its Future” at Africa Tech Fest and AfricaCom 2022 in Cape Town. He was joined by Nic Rudnick – CEO of Liquid Intelligent Technologies, Nika Naghavi – Executive director of MNOs at…

Liquid Intelligent Technologies, which is owned by Strive Masiyiwa, is spending more than R350m into delivering Software Defined Network (SDN) offering known as Dataport. The client-controlled network can be scaled and customised to suit the datacentre and SME user market, and South Africa’s 20 000 connected buildings. SDN connections are typically used to connect enterprise networks, including branch offices and data centres, over local and long distances. Users have complete control over their operations through an efficient, easy-to-use web portal, from choosing destinations, speed and bandwidths, managing traffic demand, checking costs, and more. With Dataport, customers have complete oversight of…

The first regional Internet Protocol version 6 (IPv6) adoption in Africa has to be led through policies, said Anderson Amlamba, director of the AU’s Management Information System. Speaking at the launch of “Africa IPv6 Development White Paper” by the African Telecommunications Union (ATU), African Union (AU) and Huawei at the 4th Broadband Africa Forum at AfricaCom 2022, Amlamba said that’s the only way Africa will be able to get IPv6 adoption through all the different industry sectors and verticals. This first regional IPv6 white paper on the African continent systematically analyses the development of IPv6 in Africa and shares the…