Author: Gugu Lourie

Horizon Metrics, a South African black youth-owned tech startup, plans to roll out national innovation labs across the townships. Innovation labs, also known as accelerators, business incubators, are business units that employ agile startups’ methods to devise novel ideas that can either disrupt or complement the overall company. Innovation labs are a safe place for organizations to run experiments and iterate on projects or dream up novel ideas. The Rosebank-based Horizon Metrics, founded in 2017, is already reinvesting into the townships nationwide by launching their first of many innovation labs called Technify Me. The innovation labs are aimed at driving…

The High Court in Pretoria has turned down MTN’s application for a declaratory order seeking clarity from the taxman regarding the correct Value Added Tax (VAT) for certain types of pre-paid vouchers or tokens. MTN took the South African Revenue Services (SARS) to court because it was disputing how VAT is attributed to discounted vouchers. The question was whether VAT must be accounted for on the discounted amount paid for a voucher or its stated monetary value when used as payment for goods or services. The dispute dates back to 2017 when MTN requested SARS to issue a ruling confirming…

South Africa’s AI, Data Systems and IoT startup Aizatron is developing future-focused technology. The startup has developed an award-winning facial recognition application, and a facial recognition smart bell. It is also able to iterate and pivot its products rapidly to meet its customer requirements. It also drives digital transformation for its customers and addresses their challenges quickly with technology. As a result, Aizatron has snapped several industry awards for its solutions and service to the enterprise market. The Cape Town-based startup services large enterprises, distributors, global consulting companies & other technology services firms. Aizatron, founded three years ago, is powered…

Revue, a Dutch startup that allows users to publish and monetize email newsletters, has been bought by social media giant Twitter. Twitter is where people go to see and talk about what’s happening in the world. It’s where writers, experts and curators – from individual creators to journalists to publishers themselves – go to share their written work, spark meaningful conversations and build a loyal following. In a blog post, Twitter Product Lead Kayvon Beykpour and VP of Publisher Products Mike Park, said these writers and long-form content curators are a valuable part of the conversation. “It’s critical we offer…

Mohamed Yusuf Khan, a former Cell C employee, is ready to spill the beans about a ‘multi-million rand identity scam’ and the unsavoury goings-on at the struggling mobile phone operator. He also alleges a Cell C staffer accepted cocaine as payment for his part in the alleged fraud. The so-called fraud that occurred between 2018 and 2019 may amount to R100 million. The KwaZulu-Natal ‘scam’ involves bogus customers taking out Cell C cellphone contracts using fraudulent identification card (IDs) with the correct details, unknown ID pictures, fabricated payslips and bank statements victims’ real work and home details. TechFinancials can today…

Retailer Pepkor, previously Steinhoff Africa Retail, said its FinTech segment reported revenue growth of 5.8% for the three months to end-December. The company announced that its FLASH business reported 15.7% growth in revenue boosted by an increased basket of virtual products offered to consumers. The company operates its FinTech division through FLASH and Capfin. The group added that its FLASH business continues to invest in new products, channels and geographies to widen its ecosystem as the growing trader base continues to be an attractive avenue for partners. However, Pepkor said Capfin’s performance was impacted as a result of curtailed credit…

The investors in Welkom Yizani have accepted the Media24’s cash offer to buy out all the shares in the black economic empowerment share scheme. Welkom Yizani holds a 15% stake in Media24; a print media dominated operation within the Naspers stable. Media24 is one of the largest media companies in the country with massive exposure to the struggling print media. Its assets include well-known titles like City Press, Daily Sun, Beeld, Rapport and a host of knock and drops and magazines and printing assets. The media group has proposed to pay R15.70 per Welkom Yizani ordinary share. “We appreciate the…

Facebook is taking a giant leap on how it works with the media industry as it launches its first Facebook News in the UK. This is Facebook’s first market outside of the U.S. for its dedicated, curated news portal. The portal will launch with a number of new partners, including Channel 4 News, Daily Mail Group, DC Thomson, Financial Times, Sky News and Telegraph Media Group. These are in addition to outlets already announced including The Economist, The Guardian, The Independent, STV and hundreds of local news sites from Archant, Iliffe, JPI Media, Midlands News Association and Reach as well as…

A 44-year-old former IT manager for mobile network service provider Cell C was arrested by the Hawks in connection with an alleged tender scam amounting to R64 million Mohamed Ismail Adamjee appeared in the Palm Ridge Commercial Crimes Court on Friday facing charges of fraud and corruption. The case was postponed to January 26 for a bail application. More arrests are expected. The National Head of the Directorate for Priority Crime Investigation, Lieutenant General Godfrey Lebeya commended the team for the arrest and looks forward to seeing all those involved have their day in court. “The suspect was an Information…

South African retailer Mr Price uses cellular handsets and accessories to drive footfall traffic into its stores and online platforms. Driving in-store traffic is the daily mission for every brick-and-mortar retail business. Catching the customer’s eyes and attracting them to a store and the cash register has always been a challenge for retailers. However, Mr Price’s footfall tactic of positioning cellular handsets and accessories as a strategic offering is paying off for the retailer. On Friday, the JSE-listed retailer reported a 5.8% rise in total retail sales for the 13 weeks ended 26 December 2020 and attributed this growth to cellular…