Author: Gugu Lourie

Luminous Power Technologies, a subsidiary of Schneider Electric, has partnered with Hudaco Energy to enter the South African market. They are introducing innovative energy solutions, including the first Lithium battery pack, and plan to establish South Africa as a hub for sustainable power solutions, such as residential rooftop solar systems and local electrician training. CEO Preeti Bajaj expressed excitement about the partnership and Luminous’ commitment to delivering reliable energy solutions in South Africa, contributing to the region’s sustainable development and energy transition. The company has launched the first ever Lithium battery pack – LITCORE for the market, manufactured in India.…

In a remarkable display of support for the national rugby team, Checkers Sixty60, South Africa’s premier grocery delivery app, took a bold step today by adorning the city of Paris in the unofficial Springbok colour. This spirited gesture comes on the eve of the highly anticipated 2023 Rugby World Cup final between South Africa and New Zealand, scheduled to take place at the iconic Stade de France in Saint-Denis, this Saturday at 21:00. As the excitement reaches a fever pitch across the nation, Checkers Sixty60 has not just confined its support to the local front but has extended its backing…

South African-founded startup WhereIsMyTransport is ceasing operations, its founder Devin de Vries announced today on Linkedln. “WhereIsMyTransport is at its journey’s end,and what a remarkable experience it has been! Charting a course to enable freedom of movement – at scale in emerging markets – has been a great endeavour and humbling teacher,” De Vries wrote. He added: “Having failed to raise our round, we’ve stopped operations,” wrote De Vries. He thanked the investors who have supported him along the way, saying, “Without you, our work would not have been possible. “Thank you to the team who gave the best of…

JSE-listed Famous Brands disclosed today that it has acquired an interest in an associate, Munch Software to digitise the restaurant management technology ecosystem. The restaurant group, which owns Wimpy, Steers, Debonairs and Fishaways, said Munch Software is a recent entrant in the Point of Sale software industry, offering a modern and agile cloud-based platform. “This new partnership will enable Famous Brands to achieve its ambitions to digitise the restaurant management technology ecosystem and assist the Munch business in reaching critical mass,” Famous Brands informed investors. “The transaction falls below the threshold for categorisation and therefore there is no requirement for an…

The European Commission has unconditionally cleared the acquisition by Farfetch of a 47.5% stake in Yoox Net-A-Porter (YNAP) in exchange for the issuance of Farfetch Class A ordinary shares to Richemont. The European Commission was the last regulatory authority required to provide clearance. The partnership between Farfetch and Richemont also involves: the acquisition by Symphony Global, one of the investment vehicles of Mohamed Alabbar, of a 3.2% stake in YNAP, making YNAP a neutral online platform for the luxury industry; the adoption by YNAP and the Richemont Maisons of FarfetchPlatform Solutions and; the launch of e-concessions on the Farfetch marketplace…

South African insurance giant Hollard Group has invested significantly in insurtech firm Simply Financial Services, aiming to revolutionize the country’s mass-market life insurance sector. Simply Financial, founded by entrepreneurs Anthony Miller and actuary Simon Nicholson, offers innovative life, disability, and funeral cover solutions for individuals and businesses. Starting with direct life, disability and funeral cover for individuals and domestic workers, the Simply team made a significant move into the SME and broker spaces in 2020. Their model redefines the traditional approach to life insurance for lower- and middle-income earners, using proprietary technology and intuitive design to deliver flexible, affordably-priced retail…

Discovery is a global, integrated financial services organisation that uses a pioneering Shared-value model across businesses with operations in 39 markets globally. Discovery has leveraged fintech, actuarial and behavioural science for more than two decades to deliver on its core purpose – To make people healthier and enhance and protect their lives. The JSE-listed company has more than 13 700 people employed across the group. The company has over 40.5 million lives impacted globally. The company founded and led by Adrian Gore is valued at R98 billion on the JSE. Discovery builds market-leading businesses from the ground up through its disruptive Shared-value model.…

inq. Nigeria today announced the appointment of Ifeanyi Akosionu as its Managing Director, effective from October 3rd, 2023. With an extensive background spanning over two decades in transformative leadership within the African technology and telecommunications sectors, Ifeanyi brings a wealth of expertise and experience to his new role. Prior to joining inq. Nigeria, Ifeanyi served as the driving force behind product and commercial development in West Africa at Atlas AI. He also held the esteemed position of Telecommunications and Fintech Commercial Director for Sub-Saharan Africa at Verraki Africa. His impressive career includes leadership roles at prominent companies such as Commscope,…

MTN South Africa has introduced a new fibre service, MTN Fibre, as part of its Ambition 2025 initiative to provide cutting-edge connectivity solutions to customers. This offering combines high-speed internet with unparalleled reliability, starting at just R349 per month, which covers both the router and installation costs. “MTN Fibre is redefining the way our customers connect and communicate in an increasingly digitised world”, says Bertus Van Der Vyver, MTN SA GM: Residential. “Whether for remote work, gaming, entertainment, content creation, or just to simply stay in touch with friends and family, MTN Fibre offers South Africans the best in broadband…

African Bank announced that it has entered into a binding heads of agreement with Sasfin Bank and Sasfin Private Equity Investment Holdings, a subsidiaries of the listed entity Sasfin), to acquire its Capital Equipment Finance (‘CEF’) and its Commercial Property Finance (‘CPF’) businesses, as going concerns in one indivisible transaction. The value of the transaction is approximately R3.2 billion, using the 28 February 2023 net asset values for the CEF and CPF advances books, which will be adjusted at the closing date of the transaction. The CEF business is valued at R2.4 billion, consisting of the advances book and a…