Author: Gugu Lourie
In response to a dramatic surge in AI-powered banking fraud, the Democratic Alliance (DA) is urgently calling for the establishment of a dedicated Cyber Commissioner to protect South African consumers. This proposal follows the release of the latest South African Banking Risk Information Centre (SABRIC) report, which revealed that digital banking fraud cases doubled from 2023 to 2024, with financial losses climbing from R1 billion to a staggering R1.4 billion. While overall crime-related losses decreased, the report highlights a worrying trend: sophisticated scams targeting individual customers are becoming increasingly common. Currently, banks have no legal obligation to reimburse victims of…
The South African Competition Commission has unconditionally approved the proposed acquisition of local messaging company SMSPortal by Norway-based LINK Mobility Group Holding ASA. Founded in Cape Town, SMSPortal has become a leader in the cloud communications (CPaaS) industry as it evolve with its ever-changing customer base. For more read: From student entrepreneurs to billion-rand business According to a notice from the regulator, the deal involves LINK Mobility using a special purpose vehicle (SPV) to acquire 100% of SMSPortal. The Commission found that the transaction is “unlikely to substantially lessen or prevent competition in any market” and raised no significant public…
The Reyaga Community project has announced plans for a major shutdown of the industrial suburb of Rosslyn, taking direct aim at automotive giant BMW and the broader industry for what they call entrenched economic exclusion and practices that violate spatial justice. The planned action, detailed in a comprehensive memorandum addressed to BMW and other major Original Equipment Manufacturers (OEMs), is backed by a list of urgent demands. These include radical procurement reform, enforceable hiring quotas for local residents, full transparency on supplier contracts and a fundamental overhaul of the industry’s transformation fund. TechFinancials reached out to BMW for comment but…
Vodacom has become the first company to fully operationalise virtual wheeling. The achievement delivers on a power purchase agreement (PPA) with leading independent power producer SOLA Group and provides a replicable blueprint for other corporations to procure renewable electricity. The solution, which leverages an agnostic platform developed by Vodacom subsidiary Mezzanine and renewable energy from SOLA’s solar power plant in the Free State, overcomes the historic barriers that have prevented companies with widespread operations from accessing clean energy. “Executing this innovation is an immensely proud moment for Vodacom South Africa, and highly significant for the country’s future where energy is…
Ericsson has announced the appointment of Sandile Dhlomo as the new Head of Ericsson South Africa, effective 01 September 2025. He will report to Majda Lahlou Kassi, Vice President and Head of Ericsson West and Southern Africa, and will also serve as a member of the regional leadership team. Dhlomo brings extensive expertise to the position, with over two decades of experience in the telecommunications and digital industry across the African continent. His background includes strategic leadership roles in ICT, network consulting, and business development in multiple markets, including Algeria, Nigeria, Kenya and Ghana. The appointment underscores Ericsson’s commitment to…
In a major move to digitise and personalise the customer experience, Famous Brands, Africa’s largest restaurant franchisor, has announced a strategic partnership with MoEngage, a Customer Data and Engagement Platform (CDEP). The collaboration is set to revolutionise how the company’s iconic brands, including Mugg & Bean, Wimpy, and Milky Lane, build customer loyalty and drive repeat business. The initiative focuses on unifying customer data from multiple sources to seamlessly connect digital interactions with in-restaurant transactions. A key objective is to enhance the performance of loyalty programmes by encouraging both the earning and spending of points, creating a continuous and rewarding…
In a significant move to address the stark funding inequality for women entrepreneurs in tech, global investment giants Naspers and Prosus have announced the Tech FoundHER Africa Challenge. The programme will award a total of $100,000 in equity-free grants to outstanding women-led startups across the continent. This initiative, launched in partnership with the Lionesses of Africa network, directly tackles a critical issue: while women represent 26% of Africa’s entrepreneurs, their startups receive less than 3% of venture capital funding. This gap, estimated at $42 billion, represents a massive untapped opportunity for continental economic growth. “The Tech FoundHER Challenge is about…
In its financial results for the 52 weeks ended 29 June 2025, JSE-listed retail group Woolworths highlighted its on-demand Woolies Dash offering as a critical growth engine, significantly outpacing overall group performance. Despite navigating challenging macroeconomic conditions and global trade uncertainties, which saw group turnover grow by 6.1%, Woolies Dash delivered explosive growth. The platform recorded a staggering 41.6% surge in sales, helping to propel overall online sales for its Food division by 32.9%. Online sales now contribute 6.6% to total Food sales. This robust performance from the on-demand sector underpinned a “creditable” overall result for Woolworths South Africa, which was…
For the past two years, I’ve been privileged to test drive the silent, swift and sophisticated electric vehicles from Volvo. This experience stands in stark contrast to my daily reality: behind the wheel of a diesel-guzzling V6, wincing every time I fill up at the pump. That deep down understanding of the high cost of combustion is what makes the emerging electric vehicle (EV) narrative in South Africa so compelling. It’s no longer a distant fantasy; it’s a tangible, financially savvy alternative quietly building momentum right under our noses. While projections suggest a modest 1,100 EVs on our roads by…
In a major step for electric transport, the STS Tech Group has launched ‘Smart EV’, a new charging infrastructure designed to tackle South Africa’s unique energy challenges. The company, known for building Africa’s largest EV charging centre, is using powerful global partnerships to bring world-class technology to local roads. This new system is a full service, offering smart, scalable charging solutions for everyone from homeowners to large companies. A key feature is its ability to work around power cuts. The system can boost charging capacity and speeds by up to 300% when grid outages loom, helping to keep essential transport…