Author: Gugu Lourie
As global eCommerce evolves into a $500 billion industry in 2018, online transactions in South Africa still sit at around 1% of total retail value*. Is the local market able to transition to 5% in what has traditionally been a bastion of brick and mortar retail? eCommerce experts believe this is possible if a few key elements are etched into place in a short space of time, or merchants may miss the opportunity. The reality is that local online shopping is currently undergoing a positive shift. Increased choice, courtesy of easier cross-border purchases and a continued rise in smartphone penetration…
by Staff Writer South Africa’s third mobile phone operator Cell C on Tuesday delivered R540 million in net profit for the year ending 31 December 2016. This is Cell C’s first net profit after struggling for years to deliver one. The company attributed the net profit to strong subscriber growth. It reported a 20% rise in subscriber growth to 15.3 million customers in the year to end-December versus 12.8 million in the same period in 2015. Cell C also boosted its EBITDA (earnings before interest, tax, depreciation and amortisation) by 59% to R11.8 billion. “The strong revenue growth was the…
by Staff Writer get\Worth, a South African Fintech start-up focusing on used car trading, is aiming to provide alternatives to the traditional way of buying and selling cars. The start-up is currently operating in Cape Town with a satellite operation in Gauteng. It offers tools, products and information to help people buy and sell their cars for what they are really worth. The firm, which was founded in April 2016, has developed some clever stuff that it has patented. The company uses data and analytics to remove subjectivity from pricing and trading decisions. get\Worth also use millions of price points…
by Staff Writer The Internet Service Providers’ Association (Ispa), an industry body that represents most of South Africa’s ISPs, said on Tuesday that effective competition in the mobile data services used by consumers is the key to making broadband more affordable for all South Africans. Ispa added that there is, however, an unfortunate lack of urgency on the part of the communications regulator to confront the mobile network operators on this issue. This is despite the Minister of Telecommunications and Postal Services issuing an urgent policy directive to ICASA on 3 March 2016 requiring it to prioritise an inquiry that…
by Staff Writer Ten of the world’s freshest and most promising financial technology companies are currently showcasing their ingenious innovations to hundreds of banking executives from the Middle East and North Africa (MENA) region during Meftech 2017. Meftech is the largest event that convenes the entire financial technology community from across the MENA region. It has brought together more than 8,000 financial industry executives and over 1,000 technology providers to meet, network and do business since its inception. The delegates currently attending this year’s event are estimated to control 95% of the $13 billion spent on financial technology in the Middle…
by Evita March Online dating is an increasingly popular way for people to find love, but that also makes it an attractive target for those with less than romantic intentions. Figures from the Pew Research Centre show that since 2013 the number of 55-64 year olds using the internet to find a partner has doubled, and for 18-24 year olds the number has nearly tripled. There are many advantages of online dating, such as a wider network of potential romantic partners and the opportunity to engage in social interactions with less discomfort. But our research, published in Personality and Individual Differences,…
by Palaniappan Ramaswamy Biometrics – technology that can recognise individuals based on physical and behavioural traits such as their faces, voices or fingerprints – are becoming increasingly important to combat financial fraud and security threats. This is because traditional approaches, such as those based on PIN numbers or passwords, are proving too easily compromised. For example, Barclays has introduced TouchID, whereby customers can log onto internet banking using fingerprint scanners on mobile phones. However, this is not foolproof either – it is possible to forge such biometrics. Fingers can after all be chopped off and placed by impostors to gain fraudulent…
by Staff Writer The future is here and the Internet of Things (IoT) opens a completely amazing set of use cases to everyday objects such as chairs and tables, etc. The Bravo Group is the largest furniture and sleep products manufacturer in South Africa that specialises in renowned household names such as Grafton Everest, GommaGomma, La-Z-Boy, Sealy, Slumberland and Alpine Lounge. Wireless cellphone charger Their latest creation, called the Vision Recliner uses IoT to transform the popular chair into something that is connected to the Internet and make it a useful object or device for our digital world. The cup-holder…
MTN, the country’s second-biggest mobile phone operator, has granted R7.9 million worth of shares to the new CEO of its local unit, Godfrey Motsa. The award of the shares was disclosed on Friday in a report to investors published on the JSE. The company said the award of the shares is part of its performance share plan vesting on 28 June 2019. The Fairlands-based company said it awarded on Thursday to Motse about 66 500 shares at a market price of R120.22/share. The total value of the shares is about R7.9 million. The awarding of the shares is subject to…
The M Sport Limited Edition for the models of the BMW 6 Series paves the way to an especially exclusive form of dynamic performance that gives a distinctive touch to both outer appearance and the interior ambience. The M Sport Limited Edition is available to order in restricted numbers from April 2017 for the BMW 6 Series Coupé, the BMW 6 Series Convertible and the BMW 6 Series Gran Coupé. The M Sport Limited Edition also adds a distinctive touch of style on the inside.’ BMW says the driver and front passenger enjoy the characteristic driving experience on comfort seats with the Individual fine-grain Merino full leather trim…
by Chao Charity Mbogo In Africa, a continent grappling with many social ills, it’s critical that universities produce more Computer Science graduates. It’s also one that equips students with crucial skills. Computer Science graduates are problem solvers and logical thinkers who can apply their technical expertise in a range of ways – including to socioeconomic problems. For example, Dr Christopher Chepken used ICT tools to provide interventions for day labourers in a developing country’s context. Maletsabisa Molapo worked on a project that designed a tool to help rural health trainers to create digital training content for low-literate community health workers (CHWs)…
by Gugu Lourie When the departure of experienced MTN South Africa CEO Mteto Nyati was made public by his new employers, JSE-listed tech group Altron, it was anyone’s guess who would fill his shoes at the giant cellphone operator. While the appointment of Godfrey Motsa as the new MTN South Africa boss was somewhat a surprise it was, however, also an affirmation of young talented black executives. The appointment is refreshing – it is a move away from the “tried and tested” executives with the same old sterile strategies that they have used to lead corporate South Africa. Perhaps it is…
by Professor Deirdre Carabine Education has two faces in today’s world, according to a recent World Bank report. On the one hand there’s the traditional face, where learning takes place in the state-sponsored classroom. On the other are the private initiatives in which other partners take responsibility for education at all levels. Research suggests that the traditional university has seen its heyday and can no longer survive the changes in today’s world A groundbreaking Ernst and Young report concluded five years ago that … the dominant university model in Australia will prove unviable in all but a few cases over the…
by Dirk Baur In investment terms, a safe haven is exactly what it sounds like: a place of relative safety when times are tough. Traditionally, safe haven assets have been physical, such as gold and silver, the US dollar and the Swiss Franc. More recently, Bitcoin, and other intangible assets, have been entering this discussion. An example of the latter would be one of the many gold Exchange Traded Funds (ETF), which are shares of gold holdings listed on a stock exchange, a financial claim, or US and German government bonds. But can these intangible assets really replace the tangible? What…
by Staff Writer The MTN’s re-launched music streaming service, Music+ is aiming to support and empower local content and artists. The platform is not aiming to compete with iTunes, Google Music and Deezer. It aims to revolutionise and digitise music in South Africa to the benefit of consumers, local artists and upcoming musicians. The music industry in the country is in need of a serious revamp in order for the musicians to make money and promote their brands. On Tuesday, MTN reaffirmed its commitment to become a leading player in the digital and music streaming arena when it unveiled its…
MTN announced on Tuesday that Godfrey Motsa will assume the position of CEO of MTN SA. His appointment will be effective from 13 March 2017. Motsa will replace Mteto Nyati, who will join JSE-listed tech group Altron. Motsa is currently VP of the SEA region at MTN Group. He has over 10 years of experience in the mobile telecoms industry, having occupied the positions of CEO of Vodacom Lesotho, CEO of Vodacom DRC and more recently Chief Officer Consumer Business Unit at Vodacom SA. “I am delighted that Godfrey will assume the position of CEO at MTN SA. We have worked well together in…
South Africa’s JSE-listed technology firm Altron has surprised the market and unveiled Mteto Nyati, currently a CEO of MTN South Africa, as an incoming chief executive. Nyati will assume his new role from 1 July 2017. Nyati is an ex-MD of Microsoft’s South African subsidiary and an executive of tech giant IBM South Africa. He holds a BSc in Mechanical Engineering from the University of KwaZulu-Natal. His resignation at MTN is a big surprise. He joined MTN South Africa in October 2014 as group chief enter[prise officer and in July 2015 assumed the position of MTN South Africa CEO. Nyati has…
by Staff Writer The start-up aims to also expand into Mozambique, Malawi and Kenya by April South Africa’s Mama Money is expanding its footprint into Nigeria – Africa’s biggest economy, Ghana and Tanzania using the network of its retail partner PEP. The fintech firm focusing on money transfer service is also targeting to grow its business into Mozambique, Malawi and Kenya by April. It has also earmarked a country outside of Africa for entry later this year. The company already assist for Zimbabweans living in South Africa to send money home in an affordable way. “Our platform, software and service…
by Alastair Lansley A little over 10 years ago Nintendo changed the game with the release of the original Wii console. Featuring motion controllers that allowed users’ arm and body movements to control their video games, the system was wildly successful going on to sell more than 100 million units worldwide. This was followed by 2012’s Wii U console, which didn’t fare as well. With a large “second screen” controller packed in, part of Wii U’s goal was to provide asymmetric gaming, where the player with the larger GamePad had more or different options to those who might be playing with…
by Ben Dickson If you follow tech and cybersecurity news, this is something that you see a lot: Public WiFi networks, the free wireless networks found at hotels, airports and cafes, are unsafe and can cut you some major cyberslack. As is the case with most threats, when something is publicized a lot, people tend to become less sensible and ignore it. It becomes common belief that the danger will mostly apply to other people and not me. (This is one of the weirdest aspects of human nature, finding one’s security in the insecurity of others.) However, the truth is that…
by Jonathan Roberts If you happen to live Pittsburgh in the US or Milton Keynes in the UK, then you may occasionally see one of the driverless, or self-driving, cars that are currently being tested around the world. With most major car makers developing the technology, plus new entrants into the car world such as Google, Uber and Apple, it is evident that driverless cars will eventually become real and mainstream. The media is awash with discussion of how driverless cars work, the ethical dilemmas in their use and how will they impact the workforce of professional drivers. A recent article…
Presented by CompareGuru Written by Sherryn De Vos What are the consequences of not saving for retirement? We take a look at the statistics, some of which might petrify you! Many people believe that, from your very first salary, you should be putting 10% of your salary towards retirement. Realistically, however, the majority of people only start considering a pension scheme closer to 30 years old. This is if their company has not created a scheme for them. Only a quarter of people between the ages of 18-30 are saving for some kind of pension and retirement plan. This is…
by Staff Writer Internet TV company ShowMax has set up its East Africa headquarters in Kenya at the acclaimed Nairobi Garage co-working space, and is in the process of recruiting for a number of new roles based in this office. The new office will support growth both in Kenya and in the wider East Africa region as ShowMax continues to expand to new countries with a tailored, localised service. “One of the keys to business success in Africa is recognising and catering for the differences in each market. In our view it’s essential to tailor content, functionality, and partnerships to…
By Gugu Lourie It’s been a rough ride for MTN – Africa and the Middle East’s biggest mobile phone operator. When the telco was hit with a $5.2 billion (R71 billion) fine in October 2015 by the Nigerian Communications Commission, the country’s communications watchdog: it seemed MTN was heading for doldrums and would, for the first time, experience its “Armageddon”. Instead, it seems the Nigerian debacle has afforded Phuthuma Nhleko, an astute dealmaker and one of Africa’s most talented executives, a chance to re-kindle MTN. Mind you, Nhleko was instrumental in transforming MTN from the second-largest mobile group in South…
by Gerhard Oosthuizen, chief information officer at Entersekt With rapid smartphone penetration in South Africa boosting research and development, it is no surprise that local fintech players are turning their attention towards mobile payment innovation. Mobile payments could be very lucrative in the local market, as elsewhere, but this potential remains largely untapped. We believe that banks and other financial service providers have a great deal to gain from offering secure mobile payments to consumers eager for no-fuss solutions. In developed economies like North America and Europe, research has demonstrated that for any new payment solution or platform to gain…