Author: Gugu Lourie
FNB’s virtual cards are gaining popularity among customers. Virtual debit cards work like regular debit cards but are entirely digital and offer greater security and privacy. They allow for convenient payments anytime, anywhere, without the need for a physical card. FirstRand, which owns FNB, released its financial results for the year ending 30 June 2024. FNB continues to invest in its integrated financial services platform, enabling customers to handle most of their banking needs digitally. The platform offers both assisted (e.g. call centres and branches) and unassisted (mobile and online banking, FNB app, ATMs) interfaces. Key highlights for the year…
On Thursday, 19 September 2024, ICASA will host public hearings to review Cell C’s request to transfer control of its licences to The Prepaid Company (TPC). ICASA published this on a notice in the Government Gazette. In December 2023, Icasa announced Cell C’s request to transfer its I-ECS, I-ECNS, and spectrum licences to The Prepaid Company (TPC), a Blue Label Telecoms subsidiary and Cell C’s largest shareholder. On 6 December 2023, Icasa published a notice in Government Gazette No. 49831 regarding Cell C’s applications to transfer its licences. The notice invited written responses from interested parties within 14 working days.…
Omnisient, a leader in privacy-preserving data collaboration, has been awarded the globally recognised Finovate 2024 Excellence in Financial Inclusion Award. Omnisient was the only African fintech to be recognised as a leader in its category. The US-based award honours both established institutions and rising stars that have made significant strides in delivering innovative and impactful products and services to the financial services sector. Each winner was selected from a group of finalists that have each demonstrated exceptional contributions to society and developed groundbreaking solutions that have reshaped the fintech landscape. The Excellence in Financial Inclusion award specifically honours institutions that are…
JSE-listed South African casino and hotel group Sun International announced today that its online betting platform, Sunbet, continues its exceptional growth trajectory and is exceeding its targets. Sun International informed investors that Sunbet’s overall income was up 71.8% for the six months to 30 June 2024, reaching R512 million and delivering a record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), pre-management fees, of R170 million, an increase of 88.9% compared to the prior period. Sunbet’s active players continued to grow, with additional games being offered and the overall player experience being enhanced. “While customer acquisition is key, retention…
The ICT SMME Chamber and Seacom have partnered to advance small, medium, and micro enterprises (SMMEs) growth as a key driver of economic transformation and job creation. This Memorandum of Understanding (MOU)marks a pivotal step in unlocking the full potential of SMMEs within South Africa’s ICT sector. The partnership is grounded in the Triple Helix Model of Engagement, fostering collaboration between government, the private sector, and civil society, serving as a key driver for inclusive growth and sustainable job creation. Loyiso Tyira, Managing Director of the ICT SMME Chamber, emphasised that the true measure of success for this model will…
In a dramatic twist to the long-running “Please Call Me” service compensation dispute, South Africa’s Constitutional Court has dealt a major blow to Vodafone – the parent company of Vodacom. On Friday, the court rejected Vodafone’s bid to be a friend of the court (amicus curiae) in the high-profile legal brawl between Vodacom and Nkosana Makate, the creator of the “Please Call Me” service. Vodafone has maintained a close relationship with its subsidiary throughout this drawn-out legal battle. However, Vodafone’s attempt to position itself as a neutral party – ready to assist if required – was shot down by the…
Telkom has announced a promising decline in criminal activities targeting its operations, signaling that its preventive measures are proving effective. From April to June, the company reported losses of R3.8 million due to criminal activities such as copper cable theft and infrastructure vandalism, a significant decrease from the R10.1 million lost during the same period last year. Simile Ndlovu, Telkom’s Executive for Forensic, Security, and Insurance, shared with Business Times that the company is addressing various crimes, including copper theft, fiber damage, damage to exchanges, battery theft, and robberies involving technicians working on infrastructure. “We are happy with one fact:…
Vodafone, the global telco based in London, has hit a legal stumbling block in its attempt to intervene in the long-running court dispute between Vodacom and Nkosana Makate, the creator of the “Please Call Me” service. Vodafone and Vodacom maintain a close relationship. Vodafone holds a significant stake in Vodacom. As of 2024, Vodafone owns 60.5% of Vodacom. Vodafone’s request to join the case as Amicus curiae (a friend of the court) was denied, marking the latest twist in the drawn-out battle over compensation for the widely-used messaging innovation. The letter to Vodafone reads in part: “The Constitutional Court has considered the application…
Metrofile today announced that Group Chief Executive Officer Pfungwa Serima, who has held the role since 1 February 2016, will step down effective 30 September 2024. However, Serima will remain with the company on a full-time basis until 31 December 2024 to ensure a smooth leadership transition. Serima informed the board of his desire to pursue new opportunities after three decades in corporate leadership. Under his leadership, the JSE-listed company saw significant progress, particularly in advancing its digital strategy. When he joined, digital services contributed less than 1% to revenue, but by the end of the 30 June 2024 financial…
The Gauteng Department of e-Government requires R700 million to upgrade the province’s internet infrastructure, but currently lacks the necessary funds, according to the DA. This leaves the government’s systems vulnerable to data breaches and hacking, putting service delivery to residents at risk. During a recent oversight visit by the Portfolio Committee on e-Government to the Security Operations Centre (SOC) in Rivonia, it was revealed that cybersecurity remains a pressing concern. Although there have been hacking attempts, no breaches have occurred so far. The existing security strategy, developed for the 2020/2025 period, should be updated annually to keep pace with technological…