Author: Gugu Lourie
African Rainbow Capital Financial Services Holdings (ARC FinHoldCo) announced on Thursday that it has invested R300 million South Africa’s first fully digital bank TymeBank. ARC FinHoldCo increased its holding in TymeBank to 100% over the course of the year, new partners were introduced resulting in a sell-down of control to 65.5% at 30 June 2019. The bank, which is backed by billionaire Patrice Motsepe, said it was embarking on a capital raise which will see the ARCH FinHoldCo interest diluted further. TymenBank is adding 3 500 and 4 000 customers per day, with about 40% of bank accounts being active…
South African mobile data network operator rain, which recently launched its intelligent 5G transport network, continues to invest in its 5G network across the country, said investors African Rainbow Capital (ARC). In an investment update published on Thursday, ARC said: “Overall, the growth prospects for Rain remain optimistic.” The company said Rain’s revenue growth has been encouraging and significant progress was being made to further improve on network performance and stability. “Rain is well-positioned to become a major player in the 5G data market,” said ARC. ARC added that during October 2019, Rain launched the country’s first 5G network for…
To understand the new smart monitors and other pro devices of tech health, we should look to Silicon Valley and the quantified movement of the latest generation. Apple’s Watch records exercise, tracks our moves throughout the day, assesses the amount of time we are stood up and reminds us to get up and move around if we have been sat for too long – let’s not forget Tim Cook’s “sitting is the new factor” line. Routinely evaluating your risk factors for various medical conditions, screening for cancer and other diseases, and assessing your lifestyle habits helps you stay healthy. It’s…
aYo, a mobile micro-insurance joint venture between MTN and SA’s third-biggest insurer Momentum Metropolitan, seems to be winning the minds, hearts and wallets of existing and new customers. In 2017, Momentum Metropolitan and MTN launched aYo, a micro-insurance joint venture. It began its roll-out in Uganda in January 2017 and has also been deployed in Ghana and Zambia. With insurance penetration low in many countries in the African region, aYo aims to draw on the resources and capabilities that both companies provide to improve this and offer relevant, accessible and easy-to-use insurance solutions to consumers. “Our aYo joint venture recorded…
The hybrid BMW i8 Coupé and the BMW i8 Roadster will make way for a new range of all-electric models. BMW announced on Wednesday that the production of its i8 plug-in hybrid sports car will end next month, nearly six years after it was introduced in a big way to the German automaker’s lineup. This is the final stretch on the way to the “Hall of Fame” of BMW sports cars for the i8. The BMW i8 started its worldwide success story as a unique symbiosis of futuristic design and pioneering technology. The BMW Group’s first plug-in hybrid model paved…
The SA Post Office announced on Wednesday that Coronavirus or COVID-19 delays mail to and from the Far East. he South African Post Office advises its clients that it cannot accept mail destined to the following countries: China Malaysia Indonesia Taiwan South Korea Sri Lanka Vietnam Bangladesh and Kuala Lumpur The Post Office said mail to Hong Kong is not affected. The airline carriers currently used by the SA Post Office for transport to and from these countries are unable to uplift mail due to challenges caused by the Coronavirus pandemic, it added. “As a result, mail from these counties…
MTN, Africa and the Middle East biggest mobile phone operator delivered a strong set of results for the year to end-December 2019, as it signs up more data and mobile money service customers plus mobile telephony subscribers. “We added 18 million customers to reach a total of 251 million and increased our data users by 17 million to 95 million and our fintech customers by 7 million to 35 million,” said Rob Shuter, the CEO of MTN Group. “This growth is central to our belief that everyone deserves the benefits of a modern connected life. We also saw improvements in…
The latest data released today by MTN shows that the number of active Mobile Money (MoMo) users increased by 7,5 million to a total of 35 million, generating a monthly ARPU of $1,15 in the year to end-December 2019. “The value of MoMo transactions in the year was $96,1 billion ()R1.54 trillion), with 9 200 transactions processed per minute (up from 6 800 per minute in 2018),” the company said. The launch of MoMo in South Africa and Afghanistan brings to 16 the number of markets in which we are currently live. “In November we launched MTN Homeland, a mobile remittance…
MTN Group on Wednesday disclosed that its instant messaging platform, Ayoba has reached 2 million monthly active users. To ensure Africa doesn’t miss out on the instant messaging revolution, MTN launched its own instant messaging platform, Ayoba, in March 2019. “Ayoba is now live in 12 markets and has registered two million monthly active users,” said MTN’s CEO, Rob Shuter. Ayoba was integrated into 12 MTN markets and is also available across multiple markets on the Google Play Store and via the Ayoba website as an OTT offering. MusicTime! is now live in six MTN markets. “We plan to continue…
Rob Shuter, MTN Group CEO, would be stepping down from his role at the end of his contract in March 2021, Africa and the Middle East biggest mobile phone operator announced on Wednesday. “The board thanks Rob for the contribution he has made and continues to make, to MTN. The succession process will be concluded during the year, enabling a seamless handover,” the company said in a statement. MTN group chief technology and IT officer Charles Molapisi has been appointed to the group executive committee and the fixed contract of the group chief operations officer, Jens Schulte-Bockum, has been extended…
Cape Town-based Privacy-by-Design startup that specialises in secure data sharing for businesses, Omnisient, has secured undisclosed pre-Series A funding from Nedbank CIB, Investec and Compass Venture Capital. Omnisient has created intersect.ai, the secure data exchange platform that ensures companies can protect personal information and intellectual property while sharing data internally or externally. Since launch, the intersect.ai platform has gained major traction amongst SA businesses, including leading banks, insurers and retailers. “Consumers now demand speed, ease and convenience in every sphere of life – and businesses can only meet these needs if they have seamless access to data on consumer behaviour,…
According to the Statistics SA’s Living Conditions Survey, approximately half (49,2%) of the adult population in South Africa are living below the upper-bound poverty line and the severity of poverty measures are larger for female-headed households compared to households headed by males. It is this grim reality that has compelled global beauty and personal care company, Avon Justine, to launch a poverty alleviation programme in 2010 known as Thuthukisa, which loosely translates to building together. This initiative is the first of its kind within the company and has, to date, invested approximately R600 000 in two early childhood development projects…
Sebata Holdings, a JSE-listed firm, takes a big bet on a South African startup that is making pool care a hassle-free experience and its solution monitors your pool water quality 24/7. Pro Automation is a startup that strives to bring innovative, smart and simple solutions to the connected home Internet of Things (IoT) market. Sebata is buying 30% in Pro Automation, which has developed a device that is changing the way we maintain our pools. Pro Automations’ Pool Sense product has transformed the complex and costly management of pool maintenance since its launch in December 2018, allowing owners to monitor and…
Few years ago, most telematics software users had a primary need for GPS location of vehicles on a map for dispatching. Today, if a business hasn’t evolved from track and trace, it has not evolved. But MiX Telematics sees a possible future business opportunity that could have huge growth potential in the coming years. The JSE-listed global fleet management and the vehicle-tracking company is exploring opportunities in commercial fleet managers who are seeking effective technology solutions to enhance their operations and bottom-line. ABI Research,a global tech market advisory firm assessed the market from the end user’s perspective and found that…
South African-based fleet management Software-as-a-Service (SaaS) provider, MiX Telematics announced that global security group G4S has selected it to assist in modifying driver behaviour across their Cash Division in the UK. The R4.6 billion company – which in August 2013 listed on the New York Stock Exchange –said this implementation will cover a further 1,500 vehicles throughout the UK. The contract was awarded on the basis that the global player believes MiX’s products to be the gold standard for safety, improving efficiency and alleviating impact on the environment, said the JSE-listed company. “For many years, MiX has helped G4S address…
South African-based vehicle tracking firm Cartrack may be sold to a Singaporean investor. Cartrack provides services related to stolen vehicle recovery, fleet management and insurance telematics through Software as a Service (SaaS). The company competes with JSE-listed DiDigicore, which was acquired by US-based technology firm Novatel for R1.1 billion. It also competes with JSE-listed Mix Telematics and Tracker. The JSE-listed company informed investors on Monday that it has received an expression of interest from a foreign investor. It added that the investor is proposing a transaction that could ultimately result in the restructuring of the company such that shareholders would hold shares, pursuant to…
Telkom has unveiled its Big Deal for March 2020, which would enable you to turn your home or office into a connection hub. The SmartBroadband 80GB Wireless is an LTE data offer, which includes 40GB Telkom anytime data a month and 40GB night surfer data a month. The deal includes the following: 40GB Anytime data 40GB Night Surfer data A R99 Once-Off SIM activation fee D-LINKAC1200 DB router This deal offer is available from 1st March until 31 st March 2020. The subscriber who depletes their inclusive allocated data bundle can buy/top-up with the LTE/LTE-A Once-off data bundles which expire within…
Ellies, the maker of satellite dishes and TV aerials, is planning to retrench close to 200 workers at its subsidiary, Ellies Electronics. The equipment manufacturer has served trade unions with section 189 notices. It added that Ellies Electronics will enter into a formal consultation process with relevant stakeholders, regarding the restructuring of its goods receiving, warehousing, distribution, logistics and head office functions. The company attributed the restructuring to ongoing financial losses experienced by Ellies Electronics. “The restructuring will result in the rationalisation of overheads and the realisation of other efficiencies required to restore profitability and ensure the existence and longevity of…
SelfSure, a new fintech in South Africa, has come up with a smart way to solve the problem faced by many car owners when they put in a claim after an accident. After paying premiums each month to cover their vehicles, consumers are often shocked at the thousands of rands they still need to pay to cover the excess. The brainchild of an actuary, Proud Chitumba, SelfSure’s Excess Wallet ensures that you pay zero excess no matter the size of your claim while reducing your car insurance premiums without having to change your insurer. Chitumba explains, “South African policyholders believe…
As part of its plans to roll out payment service bank seamlessly in Nigeria, MTN says it has registered about 108,000 mobile money agents across the country since August when it began the super-agent service. “We launched a super-agent service in August and are pleased with the initial rollout and uptake of the service,” said MTN Nigeria CEO, Ferdi Moolman. “We continue to make good progress with the expansion of our super-agent network and are confident that the expanded service offerings will position us to effectively drive broader financial inclusion as well as roll out the payment service bank seamlessly,…
MTN will invest about N600 billion (R32 billion) in Nigeria’s network, Africa’s largest mobile phone operator announced on Sunday. The investment will be made over the next three years. The South African-based company said this investment will enable it to accelerate its 4G network expansion, deepen population coverage and support the Federal Government’s broadband initiative. “We are excited about the possibilities that the transition to digital presents for our business, and the growth and development of Nigeria.” Expanding 4G network coverage to deliver highspeed internet to more people nation-wide and data revenue growth remain in focus, said the company. “We…
JSE-listed technology group Blue Label Telecoms has returned to profit for the first time in years, buoyed by Cell C write down. The company has lost 80% of its value over the past two years due to its investment in struggling Cell C. The group, which owns 54% of struggling mobile phone operator Cell C, and Net 1 have written down to zero the value of their stake of the embattled mobile network which last year reported an R8 billion loss in the year to June, hit by impairments. Consequently, Cell C’s financial results did not have an impact on Blue Label’s…
A new South African startup is trying to introduce the world to the country’s multicultural and deeply awesome creative talent. The startup, Fierce, is primarily focused on servicing the international market through facilitated ‘offshoring’, a term gaining traction amongst clients seeking exceptional skills from cost-effective markets. Unlike outsourcing, offshoring is primarily a geographic activity. In the West, goods are expensive because the staff required to produce and distribute them are costly. In the developing world, by contrast, vast inexpensive labour pools provide an easy bedrock for a low-cost economy. Offshoring takes advantage of these cost differentials by relocating factories from…