Author: Gugu Lourie

MTN Nigeria has seen strong growth in both FinTech subscribers and active data users for the year to end-December 2021. The company reported today that active FinTech subscribers rose by 4.8 million to 9.4 million, while active data users increased by 1.7 million to 34.3 million. FinTech revenue rose by 57.3% due to sustained growth in the use of Xtratime product and broader FinTech services by our customers. “Our FinTech business continued to gain traction with approximately 770k registered mobile money (MoMo) agents and active users more than doubling to 9.4 million,” MTN Nigeria CEO, Karl Toriola, said. “This provides…

THEFinTech business of retailer Pepkor, previously Steinhoff Africa Retail, reported a decline in revenues for the three months ended December 2021. Pepkor informed investors today that its FinTech business saw a 9.9% drop in revenues to R2.1 billion for the quarter. The company attributed the decline to the FLASH business where a deliberate change in product composition resulted in income now being recognised as net commission versus full transaction value as determined by International Financial Reporting Standards. “This change forms an integral part of the FLASH strategy to increase profitability and grow its basket of products and options to improve trader and customer…

Transaction Capital, the owner of SA Taxi, on Tuesday, revealed plans to import some electric taxis to assess their viability as the first step in what will likely be a medium- to long-term project. SA Taxi is vertically integrated minibus taxi platform using specialist capabilities, enriched proprietary data and technology to provide developmental finance, insurance and other services to empower small- and medium-sized minibus taxi operators The JSE-listed group said while its direct impact on the natural environment is low, its indirect impacts in SA Taxi are significant in the sale and refurbishment of minibus taxis to service the minibus…

Global retailer Walmart appears to be getting serious about exploring metaverse with plans to create its own cryptocurrency and collection of NFTs. According to a report in CNBC, Walmart has filed several new trademarks late December 2021 indicating its plans to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, CNBC said the company would offer users virtual currency, as well as NFTs. In a statement to CNBC, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.” It declined to comment on the specific…

BMW says more than one in ten MINI customers opted for the fully-electric MINI: the MINI Cooper SE, which sold 34,851 units in 2021. The MINI brand delivered 302,144 vehicles to customers last year – 3.3% more than in 2020. Around 17% of these vehicles had an electrified drive train. More than one in ten MINI customers opted for the fully-electric MINI: the MINI Cooper SE (34,851 units). The MINI Electric is the MINI family’s highest-volume model and was a driving force for the brand in 2021, delivering growth of 98.2% worldwide. “With a planned realignment of the model range,…

The South African Revenue Service (SARS) is on a major recruitment drive, targeting to hire 250 new call centre service agents. On Monday (27 March), the revenue service announced that it was looking to hire vibrant, energetic and driven individuals to join its call centre team who makes customer happiness their mission in life and create awesome moments of their speciality. SARS is hiring for its offices in Bellville – Cape Town, Durban – KZN, Doringkloof – Centurion or Alberton – Johannesburg. “With your expertise, help ensure that each taxpayer who deals with us has an exceptional experience,” said SARS.…

MTN South Africa says Telecom Italia executive Michele Gamberini will become its new Chief Technology and Information Officer (CTIO). His appointment is effective 1 February 2022. Gamberini joins MTN from Telecom Italia (TIM Group) where he gained 25 years of experience across the business at TIM Italy and most recently in the position of Global Group CTIO. Having worked in Italy, Spain, Greece and supported Brazilian technological choices, Gamberini had the unique experience of preparing the network evolution ahead of the 2004 Olympic Games in Athens. He holds a master’s degree in electronics engineering. MTN SA’s Chief Executive Officer, Charles…

MTN South Africa announced today it has appointed insider Megan Nicholas as MD for Supersonic, the network provider’s fibre and broadband internet service provider. Her appointment is effective 01 January 2022. Currently, General Manager for Residential at MTN South Africa, Nicholas’s internal appointment is a strategic move from MTN to ensure continuous customer growth in the residential market, of which MTN aspires to own 30% market share across all technologies by 2025. “Residential broadband delivery is a critical strategic focus, as we work to bring our superior network and service into more of our customer’s homes. This battle for the…

JSE-listed niche business bank and asset manager Sasfin has announced that Angela Pillay has resigned as the company’s financial director. The financial services group said Pillay had tendered her resignation to pursue other endeavours. Pillay will serve a three-month notice period until 8 April 2022 and the board will commence with a process to find an appropriate successor immediately. Shareholders will be kept informed in this regard, said Sasfin Pillay has been the financial director of Sasfin since 2018. “The Board would like to thank Angela for her dedication, hard work and commitment over the past few years and wish her…

With BMW iX Flow featuring E Ink being presented at CES 2022, BMW is offering the prospect of a future technology that uses digitisation to also adapt the exterior of a vehicle to different situations and individual wishes. The surface of the BMW iX Flow featuring E Ink can vary its shade at the driver’s prompting. The innovative E Ink technology opens completely new ways of changing the vehicle’s appearance in line with the driver’s aesthetic preferences, the environmental conditions or even functional requirements. The technology thus offers unprecedented potential for personalisation in the area of exterior design. The BMW…

Sony Vision-S continues its aim of evolving mobility to be even closer to people while developing technologies centred on safety, security, adaptability, and entertainment. At CES 2022, Sony announced and exhibited an SUV-type prototype vehicle (Vision-S 02) as a new form factor. Sony notes that this vehicle uses the same EV/cloud platform as the prototype (Vision-S 01), which is being tested on public roads. By offering entertainment experiences utilising the large interior space and variations of a 7-seater, this new prototype will, together with Vision-S 01, promote the accommodation of a large variety of lifestyles within a society where values…

This week at the Consumer Electronics Show (CES), BMW Group presents the third, even more, powerful model variant of its new technology flagship: the BMW iX M60. The BMW Group said in a statement the iX M60 combines a vehicle concept consistently geared towards sustainability with the design of a modern Sports Activity Vehicle and thrilling dynamic driving characteristics. With its technological highlights, which also include the areas of automated driving, operation and connectivity, the new BMW iX M60 represents a new understanding of advanced luxury, high performance and premium character,” said the German carmaker. The BMW iX M60 accelerates from…

Carmaker Hyundai today shared its vision for pioneering the use of robotics in both the real world and metaverse at CES 2022. The concept of the metaverse, essentially a virtual social space, gained traction in 2021. The metaverse is a network of always-on virtual environments in which many people can interact with one another and digital objects while operating virtual representations – or avatars – of themselves. Think of a combination of immersive virtual reality, a massively multiplayer online role-playing game and the web. The metaverse is a concept from science fiction that many people in the technology industry envision as the successor to…

Digital Realty, the largest global provider of cloud- and carrier-neutral data centre, colocation and interconnection solutions, announced today it has entered into a definitive agreement to acquire a majority stake in Teraco, Africa’s leading carrier-neutral colocation provider, from a consortium of investors, including Berkshire Partners and Permira, in a transaction valuing Teraco at $3.5 billion or R55.6 billion. After closing the deal, Digital Realty will own 55% of Teraco, while the remaining 45% will be held by a consortium of existing investors, including management, Berkshire Partners LLC, Permira, van Rooyen Group, Columbia Capital, Stepstone Ventures and the Teraco Connect Trust.…

Reunert would consider acquiring a renewable energy company, the JSE-listed electronics and electrical engineering group disclosed in its latest annual report. “We will actively pursue acquisitions in ICT in the Solutions and Systems Integration cluster to complete our service offering for +OneX,” Reunert said in the annual report. “We may also be interested in other ICT assets that may be wholly Reunert owned. “We would also consider acquisitions in the renewable energy space.” In May 2021, Reunert and A.P. Møller Capital announced a new joint venture, Lumika Renewables. Lumika provides impetus to Reunert’s renewable energy strategy which has traditionally centred around investments…

African tech investor Naspers takes R54 million bet on a car subscription platform, Planet42, that addresses transport inequality. The investment is part of a R91 million ($5.8 million) equity round led by Naspers Foundry, alongside existing investors Change Ventures and Startup Wise Guys. Existing debt investors, such as the impact debt fund Lendable, added a further R380 million ($24 million) of debt. The investment in Planet42 is part of Naspers’s R1.4 billion commitment to grow South Africa’s early-stage tech ecosystem and the eighth investment since the launch of Naspers Foundry in 2019. “At Naspers, we are passionate about building leading companies…

In a surprise move, MTN Group announced the resignation of the CEO of its South African CEO, Godfrey Motsa, who will leave the unit’s employ at the end of this month. “Motsa will be stepping down as the CEO of MTN SA with effect from 1 January 2022; Charles Molapisi (currently Group CTIO) will assume the position of CEO of MTN SA, effective 1 January 2022,” MTN Group informed investors today. MTN Group further announced that Mazen Mroue (currently COO of MTN Nigeria) will assume the role of Group CTIO effective from 1 February 2022, taking over from Charles. Mazen’s…

SA’s Rain 5G network service, which was launched in September 2019, is now covering 5.2 million households nationwide. JSE-listed African Rainbow Capital (ARC), which owns Rain, announced today that the roll-out of this 5G service continues well. “The business experienced strong growth in demand for its products since the National Lockdown in March 2020,” ARC informed investors today. “The business remains ahead of its original business case targets. More 5G products than 4G products are being sold, which is in line with rain’s strategy.” ARC added that in addition to Rain’s strategy to expand coverage in the major metros, it…

Discovery Bank, part of Adrian Gore’s Discovery Group, said on Wednesday that it is signing up 600 clients daily and accelerating growth. At an investor conference presentation, Hylton Kallner, the CEO of Discovery Bank, said the bank has emerged in line with the strategy with solid growth in 2021 across all key metrics He said Discovery Bank had over 400,00 clients in November 2021, of which over 375,000 were primary clients, 31% more than the beginning of the calendar year. “The Bank is adding more than 600 clients per day. More than 50% of these clients are new to Discovery…

SA’s third-biggest private hospital group Netcare announced today that its ordinary shares will be traded on A2X with effect from 15 December 2021. Netcare said it will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by the secondary listing on A2X. Its ordinary shares will be available to be traded on the JSE and A2X from the A2X listing date, said Netcare. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority, the Prudential Authority and…

Patrice Motsepe-backed ARC Investments today announced that TymeBank South Africa (TymeBank) and Tyme Global have completed a $70 million or R1.1 billion Series B capital raise. The capital raise was led by China’s Tencent and CDC Group, the UK’s development finance institution. The investment makes  Tencent and CDC Group shareholders of both TymeBank and Tyme Global. “The investment will enable Tyme to use its digital infrastructure to accelerate the rollout of financial services to TymeBank’s historic mass-market customer base,” ARC Investment informed shareholders today. “The two investors’ capital and expertise will be used to strengthen Tyme’s ability to manage risk…

South Africa’s FinTech player Crossfin is eyeing acquisition opportunities in the remittance market. The plan is for the company — which is backed by ARC Financial Services, a unit of billionaire Patrice Motsepe’s African Rainbow Capital, and private equity firm Ethos —  to bulk up its remittance capability. Dean Sparrow, Crossfin CEO, has big plans to pursue a remittance acquisition. “What we don’t have is a remittance competence. Remittance will be a complementary additional capability to our base platform. So, we will be looking at our pipeline of opportunities,” he said. The remittance market is huge in the rest of…

SA’s investment holding company Labat Africa, which is expanding into the fast-growing market for medical cannabis, has received a regulatory nod to float the business on the Deutsche Börse. The global market for CBD products is rapidly growing, with Labat saying earlier in 2020 the legal African cannabis market could be worth R104billion by 2023, and SA’s market worth R10.5 billion. Labat Africa said in a statement that the application to list its equity shares on the Frankfurt Stock Exchange (FSE) has been approved by the Deutsche Börse in an official announcement on Friday, 3 December 2021. The JSE-listed company…

Twitter announced Tuesday that it is revising its privacy policy to block the sharing of photos and videos of people without their consent. In a blog post, the company said there are growing concerns about the misuse of media and information that is not available elsewhere online as a tool to harass, intimidate, and reveal the identities of individuals. “Sharing personal media, such as images or videos, can potentially violate a person’s privacy, and may lead to emotional or physical harm,” Twitter said in the blog post. “The misuse of private media can affect everyone, but can have a disproportionate…

The BMW Concept XM provides a first glimpse of the new front-end design for BMW’s forthcoming luxury-class models. It will also introduce its audience to a highly progressive and distinctive take on BMW X model design and an all-new form of luxury and sense of space for the interior. The series-production model – the BMW XM – will be built from the end of 2022 at BMW Group Plant Spartanburg in the USA, the most important sales market for the new high-performance car. BMW M will therefore be introducing its first standalone vehicle since the legendary BMW M1 in the…