Author: Gugu Lourie

Pick n Pay CEO Pieter Boone has resigned from the top role,  effective 30 September, the retail giant announced on Monday. Sean Summers, a Pick n Pay veteran who ran the group as MD and CEO for 11 years, will replace Pieter with immediate effect. “I want to thank Pieter for his dedication to Pick n Pay over the past two-and-a-half years. He became our CEO while the Covid pandemic was still raging, and has led the business through some extraordinary challenges, including the transition out of the Covid lockdown, the unprecedented civil unrest in 2021, and the current loadshedding…

Capitec Bank announced today that Capitec its revenue from send cash payments and voucher sales surged 56% to reach R1.1 billion in the six months to end-August 2023. “The leading digital bank’s latest results reveal that the number of clients embracing digital transactions has grown 8% to 11.7 million, while the number of app users climbed to 10.2 million, making Capitec the biggest digital bank in South Africa,” , says Gerrie Fourie, Chief Executive Officer at Capitec. “This surge has propelled digital transaction volumes by 21% to 957 million, with the banking app claiming 83% of these transactions. Income from…

Capitec today announced that its prepaid mobile service Capitec Connect has issued 1.3 million SIM cards to subscribers by the end of August 2023. The banking group launched its mobile virtual network operator (MVNO) in September 2022. Capitec Connect piggybacks on Cell C’s mobile network infrastructure. Capitec GlobalOne transaction accounts can become Capitec Connect subscribers by connecting to the mobile virtual network by purchasing a SIM card from Capitec, which has been provisioned and activated on the mobile network. Meanwhile, Capitec also recorded headline earnings growth of 9% to R4.7 billion in its August 2023 Interim financial results. The bank’s…

Scan to Pay, Powered by Ukheshe, has partnered with Xion Global to offer crypto payments on the Scan to Pay app. Scan to Pay, powered by Ukheshe, is the largest QR ecosystem in South Africa and is used by more than 600,000 vendors, 14 banks and fintech companies and 94 payment service providers. Now, this new partnership will seamlessly introduce more crypto payment options to mainstream South Africa through the Scan to Pay app. Tracy-Lee Schoeman, Vice President of Loyalty and Rewards at Ukheshe, says the rise of cryptocurrencies has created a new wave of opportunities for performing financial transactions.…

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Root Platform (Root), the provider of a low-code, API-first, end-to-end insurance technology platform, has announced a new investment today. Invenfin, the venture and growth capital arm of Remgro Limited based in South Africa, has increased its investment in the company by $1.5 million. “We’ve built a trusted partnership with Invenfin since they invested in our business two years ago, and I’m delighted that they see further potential in our growth strategy and want to continue to invest in our future as we scale up internationally,” Louw Hopley, Co-Founder at Root, said. “We want to continue to expand in the UK…

The Huawei Watch GT 4 is more than just a smartwatch; it’s a compact computer that effortlessly combines style and functionality. Whether you’re dressing up for a formal event or hitting the gym, this innovative timepiece has you covered. At the launch event in Fourways, Johannesburg, Akhram Mohamed, the VP of Operations for Huawei South Africa’s Consumer Business Group, emphasiSed that the Huawei Watch GT 4 isn’t your typical smartwatch. It seamlessly blends classic elegance with modern technology, offering a unique blend of design and health features. The Huawei Watch GT 4 takes a bold step forward in terms of…

OpenAI is reportedly exploring the option of offering shares for sale, a move that could elevate the company’s worth from $29 billion to a range between $80 billion and $90 billion, as per sources cited by The Wall Street Journal. Notably, this initiative would permit employees to sell their existing shares, rather than the company issuing new ones. Potential sale would value startup at roughly triple where it was set earlier this year. OpenAI is an AI research and deployment company. OpenA is the artificial intelligence company that created ChatGPT, a popular AI generative assistant. The 80 billion and $90…

On Sunday, Hong Kong’s cryptocurrency firm Mixin revealed a security breach resulting in the theft of approximately $200 million by hackers. “In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets,” the company wrote on X, formerly Twitter. “Deposit and withdrawal services on Mixin Network have been temporarily suspended. After discussion and consensus among all nodes, these services will be reopened once the vulnerabilities are confirmed and fixed.”’ The company said it had have contacted Google and blockchain security company @SlowMist_Team…

OpenAI announced today in iots blog that it is rolling out new voice and image capabilities In ChatGPT. “They offer a new, more intuitive type of interface by allowing you to have a voice conversation or show ChatGPT what you’re talking about,” said OpenAI. The company added that voice and image give you more ways to use ChatGPT in your life. You can now snap a picture of a landmark while traveling and have a live conversation about what’s interesting about it. “When you’re home, snap pictures of your fridge and pantry to figure out what’s for dinner (and ask…