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,…

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…