Author: Gugu Lourie

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%…

As TechFinancials, we love testing innovative gadgets that simplify work for entrepreneurs and creatives. The GoPrinter 12.7mm Handheld Printer from AM.CO.ZA (Advanced Machinery) exceeded our expectations, so much so that we believe market vendors, crafters and artists will find it as game changing as we did. Why GoPrinter Stands Out This compact, battery-powered printer lets you print logos, barcodes, QR codes, and custom text on almost any surface, plastic, glass, wood, ceramic and even fabric with a simple swipe. No cables, no bulky setup. Just portable, high-quality printing wherever you need it. Our Hands-On Experience AM.CO.ZA sent us the Dry Adsorption cartridge (optimised for non-absorbent surfaces like…

Samsung Electronics has officially launched its highly anticipated Galaxy Z7 series, including the Galaxy Z Fold7, Galaxy Z Flip7, and Galaxy Z Flip7 FE, alongside the Galaxy Watch8 series. These cutting-edge devices redefine smartphone and wearable innovation, blending ultra-thin designs, AI-powered experiences, and unmatched performance. Galaxy Z7 Series: The Future of Foldables The Galaxy Z Fold7 delivers Samsung’s most advanced foldable yet—thinner, lighter, and packed with Ultra-level features. Its expansive screen enables seamless multitasking, gaming, and content creation. Meanwhile, the Galaxy Z Flip7 and Z Flip7 FE combine portability, style, and AI enhancements, offering a compact yet powerful smartphone experience. Galaxy Watch8 Series: Smarter Health & Connectivity Completing the…

Two leading Chinese engineering companies, East China Engineering Science and Technology Co. Ltd (ECEC) and Sinopec Ningbo, are competing head-to-head for the Basic Engineering contract to construct SUISO’s $1.7-billion (R31.5-billion) Hiryo coal-to-fertiliser complex in Kriel, Mpumalanga. The African Export-Import Bank (Afreximbank), serving as the project’s sole financial arranger, is set to announce the winning bidder this month. The bank is providing $1.2 billion in debt financing under a 70/30 debt-equity structure following the Final Investment Decision (FID). A Close Contest Between Industry Leaders SUISO founder Paul Erskine describes the competition between the two firms as “neck and neck,” with the initial field of five EPC bidders narrowed down to these two finalists. ECEC, a Shenzhen-listed subsidiary of China National Chemical Engineering…

Telkom is expanding fibre access into some of South Africa’s most underserved communities, turning a government infrastructure contract into a broader drive to close the country’s long-standing digital divide. Using the extensive infrastructure of its subsidiary, Openserve, which spans more than 180,000 kilometres throughout the country, Telkom is assisting the South African government in broadening connectivity at pre-determined sites that currently lack internet. This intervention will enable the government to extend critical services to citizens, improving public service delivery and fostering institutional trust. “Connectivity isn’t just a technological convenience – it’s a driving force behind South Africa’s economic growth. In…

The Constitutional Court will issue a judgment on the high-stakes “Please Call Me” case between Nkosana Makate and Vodacom, a subsidiary of British telecom giant Vodafone. The matter was heard on 21 November 2024, but six months later, the ruling remains pending. Vodacom is appealing a Supreme Court of Appeal (SCA) decision that overturned its initial R47 million compensation offer, rejected by Makate in 2019, and ordered a new offer. Makate is demanding R9.4 billion for his invention, which Vodacom has profited from since 2000. In a post on X, the Constitutional Court stated: “Judgment to be handed down on 31…

Chinese automakers have historically faced scepticism in South Africa, but OMODA & JAECOO are rapidly changing perceptions. In June alone, the brand sold over 1,000 vehicles, securing a spot in the top 10 passenger vehicle segment. Shannon Gahagan, National Brand and Marketing Manager for OMODA & JAECOO in South Africa, acknowledges the initial hurdles: “Initially, it was brand trust, along with uncertainty about Chinese brands, but this has changed as SA has started to welcome O&J with open arms.” The brand’s strong warranty offerings have played a key role in building confidence. *”All of our models come with a 10-year engine warranty…

As electric and hybrid vehicles gain traction in South Africa, OMODA & JAECOO are making strategic moves to capture this growing segment. The brand has already introduced plug-in hybrid (PHEV) models like the J7 SHS and C9 SHS, with more electrified options on the way. Shannon Gahagan, National Brand and Marketing Manager for OMODA & JAECOO in South Africa, explains their approach: “Not necessarily to prioritise [one powertrain], but rather to add that as a powertrain option and emphasise the benefits of alternative powertrains, as well as how vehicles such as plug-in hybrids have strong strengths for South Africans. O&J will…

South Africa’s automotive market is evolving, and challenger brands like OMODA & JAECOO are making waves by offering premium vehicles at accessible prices. But how exactly are they competing with giants like Toyota and Volkswagen? According to Shannon Gahagan, National Brand and Marketing Manager for OMODA & JAECOO in South Africa, the key lies in understanding the emotional connection South Africans have with their cars. “The expected answer is to bring value and technology to our market; however, we are truly competing by being a brand that South Africans want to be part of, while also delivering on value and technology,” Gahagan…

Anushka Bogdanov responds to JSE’s R500K fine over fake PhD allegations, citing inaccuracies and lack of due process while reaffirming her commitment to governance and ESG leadership in Africa. On Friday, the Johannesburg Stock Exchange (JSE) announced it has imposed a R500,000 fine and a 10-year directorship ban on Anushka Bogdanov, a former non-executive director of EOH Holdings (now iOCO), for falsely claiming to hold a PhD in International Finance from the London Business School. Bogdanov served as an independent non-executive director at EOH from June 2019 until her resignation in July 2020. During her tenure, her curriculum vitae and a…

The Johannesburg Stock Exchange (JSE) has imposed a R500,000 fine and a 10-year directorship ban on Anushka Bogdanov, a former non-executive director of EOH Holdings (now iOCO), for falsely claiming to hold a PhD in International Finance from the London Business School. Bogdanov served as an independent non-executive director at EOH from June 2019 until her resignation in July 2020. During her tenure, her curriculum vitae and a formal declaration to the JSE stated she held a PhD in International Financial Management and Mathematics from the London Business School. EOH subsequently discovered that Bogdanov never obtained the claimed degree, leading…

Vodacom Group CEO Shameel Joosub has emphasised the company’s commitment to financial services as a key strategic priority, following an 18.1% (21.3%*) revenue increase to R3.9 billion for the quarter ended 30 June 2025. Speaking on the Group’s trading update, Joosub noted: *”Financial services remain a clear strategic priority for Vodacom and represent the largest component of our beyond-mobile offerings. Including Safaricom, we now process $460 billion in mobile wallet transaction value annually, a 14.9% increase over the past year, which solidifies our fintech leadership in Africa.”* The sustained growth in financial services aligns with Vodacom’s mission to drive financial…

A U.S. bill proposing a review of relations with South Africa and potential sanctions against ANC officials has passed its first legislative hurdle. On April 3, 2025, Congressman Ronny Jackson (TX-13) introduced the *U.S.-South Africa Bilateral Relations Review Act of 2025*, which mandates a full assessment of bilateral ties and empowers President Donald Trump to impose sanctions on South African officials accused of supporting U.S. adversaries like China, Russia and Iran. Representative John James (MI-10) is co-sponsoring the legislation. Today Jackson posted on X: “South Africa made its choice when they abandoned America and our allies and sided with communists…

South Africa’s political discourse remains fixated on squabbles in the Government of National Unity (GNU), while a far more consequential threat looms: one that could devastate the economy, cripple state functions, and isolate the country from global tech infrastructure. That threat is the impending United States–South Africa Bilateral Relations Review Act (H.R. 2633), which, if passed, could trigger a chain reaction of sanctions, investment flight, and technological decoupling. The question is not if South Africa is prepared, it’s whether GNU, led by the African National Congress (ANC), even recognises the danger. The U.S. Supreme Court’s recent ruling in Trump v. CASA (2025) confirmed that…

Salesforce launched Agentforce on Help in October 2024 to set the standard for world-class, agentic service. This AI-powered assistant supports customers directly on the Salesforce Help site, answering questions in natural language with unified data: delivering fast, 24/7 service while freeing human support teams to focus on complex issues. Salesforce’s Customer Success approach has always been rooted in Easy and Expert, ensuring effortless interactions backed by trusted guidance. Today, Agentforce has handled over 1 million support requests, proving that AI can scale service without sacrificing trust or quality. The Impact of 1 Million AI-Powered Conversations Resolves 85% of support requests, reducing response times by 65% for 90% of…

 Britehouse Mobility is entering a new phase of innovation and independence after finalizing a management buy-out from NTT DATA for an undisclosed amount. This acquisition represents a pivotal moment in Britehouse Mobility’s evolution. The collaboration with NTT DATA played a crucial role in Britehouse Mobility’s expansion and global presence. Now, this strategic shift underscores a renewed focus on agility, innovation, and delivering specialized digital solutions with greater autonomy. Post-transaction, Britehouse Mobility will operate as a fully independent entity under the simplified name Britehouse, signaling a fresh chapter in its 16-year history of providing cutting-edge solutions and AI integration to businesses across…

Shoppers in South Africa can now receive their Temu orders in as little as one day, thanks to the e-commerce giant’s new local warehouse dispatch option. This move is part of Temu’s global strategy to reduce delivery times and expand its product range, bringing faster and more reliable service to customers. Faster Delivery, Wider Selection Eligible products marked “Local Warehouse” are stocked within South Africa, allowing for quicker processing and shipping. This upgrade is especially beneficial during peak shopping seasons, ensuring smoother order fulfillment. The local warehouse model also enables Temu to offer new product categories, including furniture, home goods, and other bulkier items that were previously harder to…