Author: Gugu Lourie

Land Rover has unveiled its most exclusive vehicle yet for South Africa: the Range Rover SV Polar Night. With a price tag of R6,521,929 and only five units available, it’s designed for the most discerning luxury buyer. The name “Polar Night” comes from the twilight skies in the far north. This theme is seen in its unique Spectral Light Blue paint, contrasted by a glossy black roof and mirrors. The SUV sits on massive 23-inch alloy wheels in Satin Dark Grey and Black. Inside, the exclusive feel continues with blue and black two-tone leather seats, a matching blue steering wheel,…

 In a significant ruling welcomed by the power utility, a director implicated in a multi-million rand fraud scheme targeting Tutuka Power Station has been sentenced and ordered to repay Eskom R2,595,000. The Middelburg Specialised Commercial Crimes Court handed down its sentence on 22 August 2025 against Ms Jessie Phindile Kubheka, a director and majority shareholder of one of the implicated companies. The court sentenced Kubheka to 12 years for fraud, suspended for five years under strict conditions, and a further four years for money laundering, also suspended for five years. The sentencing relates to a 2020 case where an Eskom…

The financial market infrastructure giant BankservAfrica has officially been rebranded to PayInc. The launch, held yesterday, marks a decisive shift in the organisation’s role at the centre of South Africa’s payments landscape. More than a simple change, the rebrand reflects a renewed purpose, positioning the leading payments provider as the trusted partner in building a digital payments ecosystem that is secure, efficient and inclusive for all. “Our new name strongly positions who we are. ‘Pay’ highlights what we do, while ‘Inc’ speaks to why we do it – economic inclusivity,” says PayInc CEO, Stephen Linnell. “This change is not cosmetic.…

In a move set to transform the local business landscape, a new South African software platform is using advanced artificial intelligence to automate critical administrative tasks for small and medium-sized enterprises (SMEs). TechFinancials sat down with the founder of Skhokho AI Bertha Kgokong, a chemical engineer turned self-taught software developer, to discuss how her all-in-one solution – Skhokho 2.0 -is seeking to level the playing field. When asked how Skhokho 2.0 will benefit users, Kgokong was clear about its core mission: to eliminate administrative drag. “Skhokho 2.0 is designed to take the pain out of everyday business administration,” Kgokong stated. “Instead…

The Master Developers of Zimbali Lakes have shifted luxury living into high gear with the launch of The Avanti Residences and the Tatali Society Club, marking the arrival of KwaZulu-Natal’s first-ever supercar-centric residential development. The 26 August 2025 unveiling was more than a property launch; it was an immersive experience that fused high-octane automotive culture with unparalleled coastal luxury, drawing high-net-worth buyers, investors, and car enthusiasts. The event transformed the estate into a pit lane of prestige, lined with supercars and vintage vehicles. Guests enjoyed fine canapés and cocktails before an exclusive presentation on the development. The evening peaked with…

OPPO has officially launched the Reno14 5G in South Africa, a smartphone engineered to be the life of the party. Priced at R19,999 and available from all leading operators, this device is crafted specifically for the nation’s dynamic nightlife, from pulsating music festivals and serene rooftop sundowners to spontaneous after-hours braais. The company claims it combines AI-powered camera tech with staggering battery stamina, ensuring you capture and share every moment without missing a beat. “The Reno14 5G reflects OPPO’s focus on relevance for South African consumers,” said Bradley Young, Head of Retail at OPPO. “It delivers real improvements in low-light…

The decades-long “Please Call Me” legal saga between Nkosana Makate and Vodacom is headed for a final reckoning. The case has been set down for hearing in the Supreme Court of Appeal (SCA) on 18 November 2025, as mandated by the Constitutional Court, and will be heard by a new panel of judges. This follows a ruling on July 31, 2025, where the Constitutional Court overturned the SCA’s previous judgment in Makate’s favour. The apex court criticised the SCA for its failure to properly analyse evidence, introducing a new “duty of proper consideration” standard for appellate courts. It ordered a new…

In a move to ensure leadership continuity at a key state entity, Finance Minister Enoch Godongwana has appointed a seasoned National Treasury executive as the acting CEO of the Government Pensions Administration Agency (GPAA). This follows the precautionary suspension of the agency’s chief executive over allegations of serious misconduct in high-value procurement transactions. To ensure stability and the uninterrupted delivery of services, Job Stadi Mngomezulu, the Deputy Director-General for Corporate Services at the National Treasury, has been seconded to the GPAA and appointed as its Acting Chief Executive Officer, effective 25 August 2025. Minister Godongwana expressed full confidence in the…

Chief Executive Officer of the Government Pensions Administration Agency (GPAA), Kedibone Madiehe, has been placed on precautionary suspension with full pay while an investigation into allegations of misconduct concerning high-value procurement transactions is being conducted. According to media reports, Madiehe is being investigated for alleged procurement breaches costing the GPAA more than R1.2billion. The Minister of Finance Enoch Godongwana on Friday, 22 August 2025, placed the Chief Executive Officer on suspension effective immediately. To ensure continuity of operations and effective leadership during this period, Job Stadi Mngomezulu, the Deputy Director-General of Corporate Services at National Treasury, has been seconded to…

The South African-founded platform Spaza Market has been strategically repositioned to directly benefit its users, shop owners, and small medium enterprises (SMEs) with a suite of powerful new tools. The upgrade from Spaza Eats to the Spaza Market super-app is designed to answer a critical question: How will this directly benefit a spaza shop owner? According to founder Talifhani Banks, the answer lies in new tools, new revenue streams, and unprecedented access to capital. “A spaza shop can sell online, an SME can manage digital payments, and both can qualify for loans based on real-time trading data,” Banks explains. “We’re not just…

South African-founded platform Spaza Market is positioning itself as a key catalyst for growing Africa’s enterprise economy, starting with South Africa’s vital township economy. The platform, Spaza Eats, has been officially relaunched as Spaza Market, transforming it into a comprehensive Super-App designed for township residents and businesses. Entrepreneur Talifhani Banks, founder of Spaza Market and parent company AnalyticsX, told TechFinancials in an interview that the remodelling of Spaza Eats into Spaza Market isn’t just an app relaunch, “it’s the foundation for scaling Africa’s enterprise economy.” He highlighted the most important feature users should notice in the Spaza Market app. “Integration,” stated…

South African-founded platform Spaza Eats has officially morphed into Spaza Market, rebranding from a food delivery service into a comprehensive marketplace. This move is designed specifically to provide township-based small and medium enterprises (SMEs) with vital new digital revenue streams. A key question follows this transformation: how will the new Spaza Market app experience feel for everyday users? Entrepreneur Talifhani Banks, founder of the original Spaza Eats and parent company AnalyticsX, describes the Spaza Market app as a super-app built for emerging markets. “As a user imagine ordering kota and groceries in the morning, booking a haircut at your local salon…

South African food delivery platform Spaza Eats has undergone a major transformation, officially rebranding to Spaza Market as it shifts from a single-service app to a comprehensive digital marketplace. The move aims to fast-track the development of a new digital economy within the country’s townships. But what was the core strategic reason behind this significant shift in identity and business model? Entrepreneur Talifhani Banks, founder of Spaza Eats and parent company AnalyticsX, told TechFinancials that the rebrand to Spaza Market was about scale and vision. “While Spaza Eats successfully solved for food and groceries, we recognised that the true opportunity lies…

 In a confident address to shareholders, Fabricio Bloisi, the CEO of global consumer internet group Prosus and its parent company Naspers, declared the company is “building something truly special,” fueled by a standout first-quarter performance and a soaring share price. The statement, published in a letter covering the Prosus Annual General Meeting (AGM), comes as the company trades at all-time highs in July and August. Bloisi highlighted a dramatic financial improvement, noting the discount to Net Asset Value (NAV) has narrowed by 7 percentage points in the last year, unlocking a staggering $13 billion in value for shareholders. “This progress is being…

The Democratic Alliance (DA) has vehemently rejected the appointment of three new Sector Education and Training Authority (SETA) administrators, labelling them as corrupt ANC cadres unfit for the critical task of cleaning up the troubled entities. The party’s National Spokesperson and Member of the Committee on Higher Education and Training, Karabo Khakhau, condemned Deputy Minister Buti Manamela’s decision to appoint Oupa Nkoane, Lehlohonolo Masoga, and Zukile Mvalo as administrators for the Construction, Services, and Local Government SETAs respectively. “These appointees are unfit, implicated in corruption, mismanagement, and fraud in previous government jobs, or have proved themselves useless in the SETA…

In a bold move that significantly deepens its investment in South Africa’s vital township economy, Dipula Properties has secured a landmark deal: the R480 million acquisition of Soweto’s Protea Gardens Mall. This purchase is the crown jewel in a series of five strategic acquisitions totalling approximately R700 million, underscoring the REIT’s aggressive commitment to long-term value creation. The story is one of a company strategically deploying capital where it knows best. As a prominent South Africa-focused REIT with a defensive portfolio, more than two-thirds of Dipula’s income already derives from retail centres in townships, rural areas, and urban convenience nodes.…

Sustainable chemicals producer SUISO has signed a Basic Engineering Design (BEP) contract with Chinese engineering firm ECEC to construct the R31.5-billion ($1.6 billion) Hiryo coal-to-fertiliser industrial complex in Kriel, Mpumalanga. The agreement was finalised in dual signing ceremonies in Johannesburg and Hefei on 13 August, following ECEC’s selection from a competitive bidding process. ECEC (East China Engineering Science and Technology Co. Ltd), a subsidiary of China National Chemical Engineering Co., is a Shenzhen-listed firm with a global reputation, having completed over 2,200 projects in chemicals, power,and green energy. “This exciting transaction saw five engineering firms bidding over two years, with ECEC emerging as the winner,” said Gerhard Potgieter, SUISO’s Director of Engineering and the…

Elon Musk’s SpaceX’s satellite internet venture, Starlink, has formally endorsed South Africa’s proposed Broad-Based Black Economic Empowerment (B-BBEE) policy reforms, advocating for Equity Equivalent Investment Programmes (EEIPs) as an alternative to the mandatory 30% black ownership requirement for telecom license holders. In an exclusive written response obtained by TechFinancials, Ryan Goodnight, Senior Director of Starlink Market Access, stated: “SpaceX commends the Department for this timely policy direction and welcomes the opportunity to discuss our response with the Department at your earliest convenience.” The statement follows SpaceX’s submission to the Independent Communications Authority of South Africa (ICASA) regarding its Proposed Policy Direction on B-BBEE alignment in the ICT sector,…

AdvannoTech, a 100% black-owned Internet of Things (IoT) solution provider, is transforming South African industries through its innovative partnership with Telkom Consumer and Small Business. This collaboration has propelled AdvannoTech from enterprise development to supplier development, unlocking national market opportunities and accelerating growth. “Becoming a solutions partner for Telkom Consumer has been transformational,” said Xolani Zuma, CEO of AdvannoTech.  “Telkom’s endorsement as a trusted national brand gives our clients confidence in our technology, while their extensive market reach has opened doors to enterprise-level opportunities across South Africa.” A strategic collaboration driving innovation Dr. Mmaki Jantjies, Telkom Group’s Executive for Innovation and Transformation,…

Anushka Bogdanov, founder of ESG data science firm Risk Insights and former EOH director, has stepped down from her consultancy following a Johannesburg Stock Exchange (JSE) ruling. The JSE imposed a R500,000 fine and a 10-year directorship ban after discovering she falsely claimed to hold a PhD from the London Business School. Bogdanov served as an independent non-executive director at EOH Holdings (now iOCO) from June 2019 until her resignation in July 2020. During her tenure, her CV and JSE declarations stated she held a PhD in International Financial Management and Mathematics from the London Business School. However, EOH later found she…

Vodacom today announced that it has received the go-ahead from South Africa’s Competition Appeal Court to proceed with its proposed acquisition of a 30% stake in Maziv, the entity that houses all the fibre assets owned by Community Investments Ventures Holdings (CIVH), including Vumatel and Dark Fibre Africa. The acquisition is subject to a set of revised conditions, proposed by the merger parties and the Competition Commission ahead of the Competition Appeal Court hearing on 22 July 2025. This approval marks a significant milestone in Vodacom’s strategic efforts to expand its fibre footprint and enhance digital connectivity across South Africa.…

“Wait, who is this car actually for?” My wife’s WhatsApp video call froze mid-sentence as I proudly panned the camera across the Volvo EX30 Cross Country’s rugged silhouette against Bronkhorstspruit’s golden light. When the WhatsApp video call connection stabilised, I saw her eyes alight with that particular spark, half curiosity, half challenge. She wasn’t asking about the usual suspects, not the suburban adventurers or safety-conscious families who’ve long loved Volvo’s Cross Country lineage. Her question cut deeper: “Who’s the new dreamer this car is meant for?” The answer unfolded like a map to uncharted territory: South Africa’s burgeoning tribe of…

Nedbank Group, a top South African financial services provider, has announced a binding agreement to acquire 100% of fintech innovator iKhokha in an all-cash deal worth approximately R1.65 billion (subject to adjustments). This acquisition reinforces Nedbank’s strategy to enhance digital financial solutions for small and medium-sized enterprises (SMEs). The transaction, pending regulatory approvals, is expected to finalize in the coming months. Founded in 2012, iKhokha has become a trusted partner for South African entrepreneurs, offering affordable payment solutions and business management tools. Post-acquisition, iKhokha will operate as a wholly owned Nedbank subsidiary while retaining its brand and leadership. Strategic Alignment…

Airtel Africa and Vodacom Group have entered a strategic infrastructure-sharing agreement in key African markets, including Mozambique, Tanzania, and the Democratic Republic of Congo (DRC), pending regulatory approvals. The collaboration, focused on fibre networks and tower sharing, aims to accelerate digital services, reduce costs, and enhance connectivity for millions. By pooling resources, the partnership will deliver faster internet, broader coverage, and more reliable services, particularly in underserved regions. This move supports both companies’ goals of closing Africa’s digital divide while driving economic growth through improved access to mobile, fixed, and financial services. Vodacom’s Vision: A Connected, Inclusive Africa Vodacom Group…

JSE-listed fintech group reports 48% profit surge for the six-month period ending 30 June 2025, fueled by rapid customer growth and AI-driven efficiency Weaver Fintech, formerly Homechoice International, continues its impressive growth trajectory, with its trading brands Finchoice and PayJustNow adding more than 110,000 new customers per month. This surge in user acquisition has contributed to a 48% increase in profit before tax, reaching R370 million for the six months ending June 2025, up from R250 million in the prior period. Strong Financial Performance Driven by Fintech Dominance The group’s latest interim results reveal a 29% revenue growth to R2.6 billion, up from R2 billion in H1 2024. The Fintech division, which now accounts for 98%…