Author: Gugu Lourie

Former Transnet executives Brian Molefe, Siyabonga Gama, Anoj Singh, and ex-engineer Thamsanqa Jiyane were granted bail of R50,000 each today at the Palm Ridge Magistrates’ Court. The four were arrested earlier this morning on charges of fraud, corruption, and money laundering linked to an ongoing investigation. Ex-Transnet Execs Brian Molefe, Siyabonga Gama To Appear In Palm Ridge Court The Hawks have arrested two former Transnet executives, Brian Molefe and Siyabonga Gama, in connection with a controversial R93-million locomotive procurement deal. The two appeared in court to apply for bail following their arrest, which stems from corruption allegations detailed in the…

KFC taps into the modern conversation with a clever campaign that shows some will do ‘A.I.nything for the Taste’ of its Finger Lickin’ Good food. The past few weeks saw a mysterious South African AI launch making headlines and causing a stir on social media. The AI, known as KAIIA, reported to be fluent in 11 local languages, trained for local nuance and fine-tuned to Mzansi culture, was leaked via a network of tech enthusiasts. KAIIA, which stands for Kentucky AI Integrated Assistant, is the star of the brand’s latest TV and cinema commercial in which it goes to extraordinary lengths…

Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) has announced a definitive agreement to acquire 100% of Bank Zero, a South African digital bank co-founded by former FNB CEO Michael Jordaan. The deal, valued at R1.1 billion, will be settled through a combination of newly issued Lesaka shares (giving Bank Zero shareholders a 12% stake) and up to R91 million in cash. “Our partnership with Lesaka creates long-term value, combining digital banking innovation with fintech scale,” said Jordaan, Bank Zero Chairman. The transaction remains subject to standard closing conditions and regulatory approvals, including clearance from the South African Reserve Bank’s Prudential Authority,…

Capitec Bank has thrown its weight behind Home Affairs Minister Leon Schreiber’s initiative to modernise South Africa’s population registration database. This comes after digital bank TymeBank strongly criticised Schreiber’s decision to impose significant price hikes for online identity verification services. The move signals growing tensions between financial institutions and the government over the cost and efficiency of critical ID checks. “Capitec supports the Department of Home Affairs’ initiative to upgrade the National Population Register and enhance the stability and reliability of its Online Verification System,” Capitec said in a statement. “A secure and stable national identity system is crucial for…

The refreshed Kia Sorento redefines the large family SUV segment with bold design, advanced technology and outdoor-ready performance. Built to inspire confidence, it sets new benchmarks with futuristic innovation, intelligent safety systems and a premium digital driving experience. “The Sorento’s evolution echoes Kia’s brand transformation. A rich package of advanced safety features and highly efficient powertrains make it perfect for customers seeking a safe, reliable, and relaxed drive,”  says Paul Turnbull, CEO of Kia South Africa. Next-Gen Tech for a Smarter Drive The Sorento’s dual 12.3-inch panoramic screens (infotainment + digital cluster) and 10-inch head-up display keep drivers informed without distraction. The digital rear-view mirror doubles as a camera feed for unobstructed visibility,…

Fabricio Bloisi, Group CEO of Prosus and Naspers, has expressed strong confidence in Takealot’s ability to maintain its leadership position in South Africa’s competitive e-commerce landscape, even as global players like Amazon enter the market. In a Zoom discussion, Bloisi outlined the company’s strategic priorities while emphasising continued support for Takealot through technology transfers, operational investments and local community development initiatives. The Naspers CEO explained the company’s current geographic focus areas, making clear that while Latin America, India and Europe represent immediate priorities for new investments, South Africa remains a crucial operational market. “Because of our existing South African operations,…

OLX’s South African subsidiaries AutoTrader and Property24 continue setting new industry standards through cutting-edge innovations, customer-centric tools, and measurable market impact. These leading platforms within the OLX portfolio have strengthened their market leadership positions while driving meaningful digital transformation across their sectors. AutoTrader Revolutionises Car Buying Experience AutoTrader has consolidated its position as South Africa’s premier automotive marketplace with groundbreaking features that empower both consumers and dealerships. The platform introduced machine-learning powered Price Ratings, enhanced vehicle valuation insights, and real-time price drop alerts – giving buyers unprecedented transparency. Christian Gisy, CEO of OLX Group, noted: “Our investments in Artificial Intelligence…

As South Africa continues its journey of economic renewal, Naspers remains a committed long-term partner in building a more inclusive and innovative digital economy. The group’s mission, empowering South Africa’s digital future through purposeful innovation, trust, and inclusive growth, drives its strategic investments in AI and digital platforms. Commitment to Economic Growth and Digital Inclusion Fabricio Bloisi, Group CEO of Prosus and Naspers, emphasizes the company’s vision: “Our ambition is to build value by creating a high-quality ecosystem of complementary businesses, which deliver exceptional products and services to our customers. We are supporting government’s priorities of inclusive economic growth and creating…

Naspers, a global consumer internet group and one of the world’s largest technology investors, remains well-positioned to thrive in an uncertain macroeconomic environment due to its strong balance sheet. At the corporate level, Naspers holds a net cash position of $1.9 billion, supported by $17.4 billion in central cash and cash equivalents, net of $15.5 billion in central interest-bearing debt. Additionally, the group benefits from an undrawn $2.7 billion revolving credit facility, reinforcing its financial resilience. The group’s free cash inflow surged to $1 billion in 2025 financial year, more than doubling from the prior year’s $375 million. This growth…

Johannesburg’s hottest real estate deal is here!  The Gupta family’s Saxonwold compound — a monument to state capture, tender fraud, and “creative accounting” — is finally going under the hammer. But don’t worry, the auction house has ensured only serious buyers (read: those with unexplained offshore funds) can participate. Entry Fee: R500,000 (Proof of Embezzlement Optional) Bidding on the infamous “Loot Manor” isn’t for the faint-hearted or the legally compliant. Park Village Auctions, tired of Gupta lawyers wasting their time by pretending to bid, has set a R500,000 deposit just to prove you’re committed to questionable financial decisions. A source from the auction house explained: “We’ve had too many jokers register and then ghost us. If you’re not willing…