Author: Gugu Lourie

Eskom announced today that evening loadshedding will be maintained at Stage 4 daily at 16:00 – 05:00 while Stage 3 loadshedding will be implemented daily at 05:00 – 16:00 until further notice. A further update will be published as soon as any significant changes occur, said Eskom. “Over the past 24 hours two generating units at Tutuka Power Station were taken offline for repairs while two units at the Arnot Power were returned to service,” the power utility added. “Planned maintenance to 6 018MW while breakdowns currently amount to 15 797MW of generating capacity. “Eskom requests members of the public…

Mercedes-Benz is funding a global fellowship that will provide training and scholarships to thousands of young people from around the world to implement their projects in the areas of environmental sustainability and decarbonization. To provide the seed money for the fellowship, Mercedes-Benz auctioned the world’s most valuable car, a 1955 SLR Uhlenhaut Coupé, for a record price of €135 million or R2.5 billion. Mercedes-Benz will donate proceeds from the auction of a Mercedes-Benz 300 SLR Uhlenhaut Coupé to fund beVisioneers: The Mercedes-Benz Fellowship The global fellowship programme will aim to scale up to support up to 1,000 young people per…

Bitwarden, open source password manager trusted by millions, today announced the acquisition of Passwordless.dev, a European-based open source startup that enables developers to create passkeys and other forms of WebAuthn passwordless experiences quickly. A core part of the FIDO2 specification, WebAuthn is a modern open authentication standard supported by browsers and technology giants such as Microsoft, Google, and Apple. “Most companies want to invest in passwordless solutions such as Face ID, Touch ID, Windows Hello, and other forms of web authentication to create better user experiences and stronger security” Tweet this This acquisition comes on the heels of a $100M…

The DA has been reliably informed that the South African Post Office (SAPO) aims to cut staff salaries by 40% as of next month – while their looting of staff medical aid and pension contributions is ongoing. Medical Aid benefits have once again been withdrawn from both staff and pensioners because of non-payment – despite the fact that the staff lose that amount from their salaries and pensions each month. This is despite management assurances to the Communications Portfolio Committee that they would turn things around. “We have also learnt that the current CEO today earns nearly R4 million per…

JSE and Nasdaq-listed fintech group Lesaka Technologies, formerly known as Net1, today announced the resignation of its chief accounting officer, Alex Smith. The resignation of Smith is effective 1 March 2023. Lesaka said Smith is leaving the company to pursue other opportunities. The company added that Smith will assist in consolidating the roles and responsibilities of Chief Accounting Officer (CAO) into the ambit of Lesaka’s highly experienced Finance team. “The past 18 months have been a time of significant transformation for Lesaka,” said Chris Meyer: Group CEO. “While it has been challenging, our focus on execution has resulted in substantial strides…

South African payments platform Payfast is looking to continue its acquisition spree. In 2021, DPO Group, of which Payfast is a part, was acquired by Network International, a globally renowned digital commerce provider in the Middle East and Africa. The company is now known as DPO by Network. “We are currently exploring a number of partnerships,” said Brendon Williamson, managing director at Payfast, without giving further details. “Even though we have gone through an acquisition phase as DPO Group and now DPO by Network, we will continue that acquisition phase as Payfast supported by Networks. “So there are potential acquisitions…

Bidorbuy, one of South Africa’s largest online shopping and auction marketplaces, will soon be officially known as Bob Shop. In August 2022, Bidorbuy concluded a merger with shipping and fulfilment specialists uAfrica, the new combined company is called Bob Group. “Bob” speaks to our heritage as bidorbuy; Group refers to the fact that the new company offers so much more in terms of service, functionality and user experience for both merchants and consumers.,” the company said in its blog. The aim of the collaboration is to compete with Takealot and Amazon. Bob Group is a one-stop shop for everything ecommerce…

South Africa’s Telkom and data-only network operator Rain have terminated merger talks. Telkom informed investors on Wednesday that after initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction is not possible at this time. “Telkom continues to execute its strategy to unlock value for shareholders and will provide an update on progress in this regard in due course,” said the company. Also read: GUGU LOURIE: MTN’s battle for Telkom is actually no contest Telkom shares were trading 10% higher at R35.68 by 14h20 today, maybe signalling a relief from the market that the deal…

JSE and Nasdaq-listed fintech group Lesaka Technologies, formerly known as Net1, has decided to retain the services of Steven Heilbron as CEO until June 2025. In a statement, the dual-listed group, said Heilbron has been the CCEO of the Connect Group since 2013 and joined Lesaka following the acquisition of Connect in the same capacity. Heilbron has two decades of financial services experience, having spent 19 years working for Investec in South Africa and the UK, where he served as Global Head of Private Banking and Joint CEO of Investec Bank plc. He led a private consortium that acquired Cash…

Telkom has unveiled the January Big Deal to connect you to super-fast, uncapped fibre. The company wants you kick-start the year with an exclusive January Fibre Big Deal that is fast, reliable and affordable. “Stay productive and make the most of every day with a deal that will help ease the January financial blues.,” says Telkom. The January Fibre Big Deal offers 25/10Mbps Uncapped @ R389 x 3 months, thereafter R499 x 9 months. “Telkom is working hard to bring you the best deals in South Africa. Bargain-hunting and no skimping on quality,” said Telkom. “Our wide array of products…

The BMW Group is continuing to drive the digitalisation of access to its vehicles in co-development with Apple and Google. It is now possible to share a BMW Digital Key across platforms between iPhone and Android devices. Previously, keys could only be shared via Apple iMessage. There is now no longer any need for a specific app or a set method of transmission. Instead, keys can be easily passed on to friends or family from the wallet using the native “share” function known from many apps. This means that sharing a BMW Digital Key now takes the straightforward form of…

Shoprite, Africa’s biggest retailer, is attracting more customers for its mobile virtual network operator (MVNO). The retailer, which also owns  Checkers, reported that K’nect attracted 33 944 customers in its first year of operation in 2021. Shoprite told TechFinancials that K’nect had added 139,556 users in 2022, taking the total of new voice and data customers to 173 500. K’nect was launched on 23 March 2021. The prepaid cellular network has partnered with digital enabler FREI One Digital. It piggybacks off the mobile network infrastructure of Cell C, whose roaming partnership with MTN provides award-winning coverage. K’nect forms part of the Shoprite…

FNB Connect, a mobile virtual network operator (MVNO), has attracted 878 000 customers since its launch in June 2015, making FNB the first bank in the country to establish a mobile offering. Standard Bank officially launched its MVNO, SB Mobile, in November 2018. JSE-listed FirstRand, FNB’s parent, disclosed in its latest integrated report that retail’s commissionable turnover amounted to R17.9 billion (including prepaid service providers), with active sim cards in the MVNO reaching 878,000 in 2022 versus 833, 000 in 2021. Therefore, FNB Connect attracted 45 000 new customers in 2022. That means FNB is attracting a mere 3,750 customers…

Blockchain payments company Centbee announced today that it has closed its pre-Series A round with entrepreneur Calvin Ayre, founder of Ayre Ventures. Ayre Ventures first invested in Centbee in 2019. The company was founded by co-CEOs Angus Brown and Lorien Gamaroff’s in South Africa and now is a global blockhain payments wallet business. It is headquartered in London, United Kingdom, with offices in South Africa. Gamaroff is a leading expert in blockchain technologies and cryptocurrencies. He has consulted and advised regulators and corporates internationally and is highly regarded globally as an educator and presenter. Brown has 20 years of experience…

The Independent Communications Authority of South Africa (ICASA) has promulgated seven final Radio Frequency Spectrum Assignment Plans for International Mobile Communications (IMT) high-demand spectrum, following an extensive notice and comment process. The seven bands are: 703 to 733 MHz and 758 to 788 MHz (IMT700); 733 MHz to 758 MHz (IMT750); 791 to 821 MHz and 832 to 862 MHz (IMT800); 880 MHz to 915 MHz and 925 MHz to 960 MHz (IMT900); 2300 MHz to 2400 MHz (IMT2300); 3300 MHz to 3400 MHz (IMT3300); and 3400 MHz to 3600 MHz (IMT3500). 450 MHz to 470 MHz (IMT450); 825 MHz…

Business communication and managed services provider ICTGlobe sees declining local voice margins and the weak SA currency as compelling reasons to seek a global market for ICTLabs. “A US headquarters for the research and development (R&D) subsidiary of ICTGlobe means stronger group earnings off the back of dollar denominated inroads in developed world markets,” says Riaan van Stryp, head of ICTLabs and the former Chief Operating Officer (COO) of member company, ICTGlobe Management (Pty) Ltd. ICTLabs is located in Boston in the US with additional presence in the ICTGlobe group head office in Centurion where it has already rolled out…

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,…