Author: Gugu Lourie

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,…