Author: Gugu Lourie
Minister of Small Business Development Lindiwe Zulu will travel to Colombia in two weeks time with a strong local team on a charm offensive to attract investors and promote the country’s entrepreneurial culture. By Staff Writer The minister will lead a South African delegation to attend the he 8th edition of the Global Entrepreneurship Congress (GEC 2016) under the theme The Business of Next at Medellin in Colombia. Every year, the GEC gathers together thousands of entrepreneurs, investors, researchers, policymakers and other startup champions from more than 160 countries to identify new ways of helping founders start and scale new…
Consumers are the big winners in the High Court’s judgment against Vodacom’s acquisition of Neotel licenses. By Jose Dos Santos,Cell C CEO It is hard to paint a rosy picture of telecommunications in South Africa. The environment is dominated by two players and policed by a regulator that does not always meet its mandate. In the end all that grief is passed onto South African mobile and internet users, who carry the brunt of some of the highest telecommunications costs in the world. The only true solution to this impasse is an open and competitive market, made possible by a level…
Standard Bank Research said the “rand sacrificed most of the gains it had made since the end of January”, which analysts on Monday said was due to a boiling point in politics involving President Jacob Zuma and Finance Minister Pravin Gordhan. By Matthew le Cordeur, NewsAgency Zuma said on Friday that he will not interfere with a SA Revenue Service (Sars) commissioned investigation by the Hawks into a ‘rogue unit’ that allegedly operated while Gordhan was commissioner at Sars. The current Sars commissioner, Tom Moyane, is at loggerheads with Gordhan over restructuring plans that will undo the well-oiled Sars machine that…
Teraco, which is regarded as Sub-Saharan Africa’s top “vendor neutral” data centre operator, is investing more money to develop Africa’s biggest data centre at its Isando headquarters in Johannesburg. By Gugu Lourie The data centre market, which is one of the fastest-growing industries, is buoyed by increased internet usage and proliferation of smart devices in Africa as well as the rise in data centre outsourcing. The industry in SA is also growing rapidly – a development that has benefitted Teraco, which was founded in 2008. As part of its growth strategy, Teraco announced on Monday that it has started adding a…
The last few years have seen numerous studies pointing to a bleak future with technology-induced unemployment on the rise. For example, a pivotal 2013 study by researchers at the University of Oxford found that of 702 unique job types in the United States economy, around 47% were at high risk of computerisation. By Stefan Hajkowicz This was backed up by similar findings in Australia suggesting 44% of occupations – representing more than five million jobs – were at risk over the coming 10 to 15 years. Is the situation really so dire? Are we heading towards mass unemployment as computers and…
Tech giant Apple is standing firm behind its decision to refuse a US court order to help the FBI gain access to the iPhone used by one of the shooters in last year’s mass killing in California. By Georg Thomas Fourteen people were killed and 22 seriously injured in a shooting in San Bernardino, on December 2, 2015. The incident was declared an act of terrorism. The FBI has an iPhone 5C belonging to one of the shooters, but it does not have the necessary security code set by the user to unlock the phone. It wants Apple to create and…
Telephone giant Telkom says it has not retrenched close to 600 workers as reported by the Solidarity union. The firm, which continues to seek ways to cut costs, said only about 300 workers at its corporate centre may be affected by the latest job cuts. By Staff Writer Telkom was earlier reported that it was seeking to retrench 554 workers. The South African-based telco, which is valued at more than R28 billion, on Thursday informed unions of its intention to pursue a Section 189 process, within its corporate centre, which may impact approximately 300 people. The firm advised that in…
Telkom, Africa’s biggest fixed-line telephone group, is planning to retrench 554 workers as part of its exercise to cut costs in the business and make it more profitable in order to compete aggressively in the market. By Staff Writer Trade union Solidarity announced in a statement on Friday that Telkom had issued a notice of retrenchment to trade union on Thursday. “In the retrenchment notice Telkom states that around 300 jobs at its Corporate Office will be affected by the process. It is also intended to transfer 254 employees to another company in compliance with section 197 of the Labour…
The CEO and Chairman of NET1 (Net1 UEPS Technologies), a JSE and Nasdaq-listed tech firm, Serge Belamant has a questionable Ph.D. Degree. Quoth Raven in a blog titled Is UEPS’ CEO touting a sham PHD Degree, says major questions loom about the integrity of Belamant’s Ph.D. Degree, which seems to have come from a ‘distance learning’ University that has since disappeared. By Staff Writer In the blog post, Raven says this after other research reports called out questionable statements the CEO has made about his company’s highly scrutinized business practices. “UEPS has been a company under much controversy – the next question…
This week Finance Minister Pravin Gordhan highlighted during the Budget Speech that partnership between government and businesses is a central priority of the National Development Plan (NDP) and key to rapid development for economic growth. MTN Business welcomes the budget speech and the recent call by the president for the public and private sectors to work together by mobilising the resources and capacity for quality delivery of services. In fact, David Mphelo, General Manager for Public Sector at MTN Business South Africa says the recent positive overtures by the Presidency regarding a more open relationship with business is serious…
The #Hack.Jozi Challenge, which is organised by the City of Johannesburg (CoJ) and Wits University through the Joburg Centre for Software Engineering (JCSE), is back again for its second year. This year, the total prize remains at R5 million. By Staff Writer The overall winner will receive R1 million for a great digital idea that can transform their community. The two runners up will get R350 000 and top 100 idea makers wil get a chance to go into a a boot camp. The #Hack.Jozi Challenge is a boot camp for startup entrepreneurs and aims to contribute towards fostering skills, innovation and entrepreneurship…
ShowMax, the internet TV service owned by Naspers, has concluded agreements that will see ShowMax vouchers going on sale in 125 Game stores and more than 100 CNA stores across South Africa. ShowMax vouchers have also been available in Pick n Pay stores since December 2015. Internet TV is taking off across South Africa with a number of local and international services now available in the country. The benefit of internet TV versus traditional services is that subscribers are able to choose from a catalogue of TV shows and movies and then start, pause and stop at will. These retail…
South African based media and ecommerce conglomerate Naspers announced on Wednesday that it has invested $250 million (R3.9 billion) into ibibo, an Indian online travel venture. By Staff Writer The JSE-listed firm said in a statement that the investment will be used to extend ibibo’s leadership position in the Indian hotels category and on additional technology innovations. “The Indian ecommerce market, and the online travel segment in particular, offers exciting growth prospects for us as a group. With a talented, proven management team and exceptional technology, ibibo is well positioned to benefit from an increasing number of people using online travel…
The National Energy Regulator (Nersa) has postponed its announcement on the Eskom tarifff hike decision until Tuesday, following Finance Minister Pravin Gordhan’s swipe at the power utility on Wednesday. By Fadia Salie, NewsAgency Gordhan said at his press briefing ahead of his 2016 Budget Speech that tariff increases should only be approved if they are necessary, and not just to make things more comfortable. His comments came a day before Nersa was scheduled to announce possible electricity price increases through a tariff hike to fund Eskom’s shortfalls. “Regarding tariff increases, are they necessary or just comfortable in a particular environment?” Gordhan…
Moody’s Investor Service said on Wednesday Finance Minister Pravin Gordhan’s planned tax increases in his 2016 Budget Speech were well targeted, given the weak economic backdrop. By Fadia Salie and Liesl Peyper, NewsAgency The New York-based rating agency was, however, concerned that the specific revenue measures that will accomplish the smaller deficits predicted for 2017/18 and 2018/19 have not yet been identified. Moody’s also said Treasury’s revised growth forecasts of 0.9% and 1.7% are still slightly more optimistic than its own predictions of 0.5% for 2016 and 1.5% for 2017. The measures Gordhan announced in his Budget Speech included a reduction…
Vox Telecom has launched Kaspersky Endpoint Security for Business to provide endpoint protection for all virtual, physical and mobile devices within its SME and Corporate customers. From just R370/month including 10 licenses, the Kaspersky Endpoint Security for Business is a unique and sophisticated technology, designed and built by Kaspersky, the industry’s leading security experts. This service provides customers a single view into their local network and users devices and ensures safety from outside threats. “Technology advances, and evolution of the Internet leaves businesses more exposed to cyber-crime, with an estimated 325 000 unique threats every day, says Mayleen Bywater,…
A KwaZulu-Natal school has received a state-of-the-art solar-powered computer lab. The project, the brainchild of Durban-based company Give IT Back, was put together with Airports Company SA (Acsa) and King Shaka International Airport and cost R500 000. By Kaveel Singh, NewsAgency Buffelsdale Secondary School in Tongaat, north of Durban, will house the computer lab. Pupil Colette Govender, 14, said it was a “great opportunity” to learn computer skills. “The school did not have this facility before. We are looking forward to exciting lessons. I feel this skill of using the computer will make me more marketable in the job market. It…
The first licences for hydraulic fracturing, better known as fracking, should be issued this year, an official from the department of mineral resources said in Parliament on Wednesday. By Jenni Evans, NewsAgency “Shale gas is still seen as a game changer,” said Setepane Mohale, chief director for promotion and international co-ordination at the department, in a briefing to the committee on mineral resources. Applications were already being received after regulations were passed last year and licences would only be granted if the applicants complied with regulations on fracking, and transformation requirements. Hydraulic Fracturing is defined in the regulations as “injecting fracturing…
From 1 April this year, all companies that intend to do business with government will need to be registered on the government’s central supplier database. By Liesl Peyper, NewsAgency Finance Minister Pravin Gordhan on Wednesday said transparency with government tenders had improved significantly since the inception of the eTenders Portal last year. This year it would be compulsory for state departments to procure goods and services through the so-called gCommerce portal – a system whereby orders were automated, which would allow for bulk discounts. The automation process was expected to reduce corruption, as people wouldn’t be able to override the right…
What “all of us want” was central to Finance Minister Pravin Gordhan’s simple message of economic hope in his budget address on Wednesday. By Matthew Le Cordeur, NewsAgency “All of us want jobs, thriving businesses, engaged professionals, narrowing inequality, fewer in poverty,” he told parliament. “All of us want a new values paradigm, a society at peace with itself, a nation energised by the task of building stronger foundations for our future society and economy. “We want our government to function effectively, our people to work in dignity, with resources for their families, decent homes and opportunities for their children. “We…
Customers who use Telkom’s mobile transactional services, such as airtime recharges, could run into issues on Wednesday amid a hardware glitch. By Gareth van Zyl, NewsAgency Telkom said on Wednesday morning that a hardware failure is disrupting its short-code or USSD services for its mobile customers. Fin24 understands that mobile customers trying to transact at Telkom stores, via online channels or through third parties could also experience problems. “Telkom is currently unable to provide mobile transactional services to its customers (eg. Airtime recharges) ,” said the company in a statement. “The problem is related to a hardware failure,” the company added. This…
Digital insurance distributor Hepstar has secured $2 million (R30 million) in growth equity funding. The funding was led by UK-based technology investor Amadeus Capital Partners. The Amadeus’ investment into Hepstar is provided for by their Digital Prosperity Fund, which is backed by the MTN Group. By Gugu Lourie The growth capital will support Hepstar’s global expansion plan and accelerate its technology development. The Cape Town based firm, which was founded by Stephan Ekbergh in 2013 – to address the need for e-commerce companies in general, airlines and travel companies in particular, to maximize revenue from ancillaries – is targeting…
“You have nothing to fear if you have nothing to hide” is an argument that is used often in the debate about surveillance. The latest incarnation of that debate is currently taking place in the case of the US government versus Apple. The concern that technology experts have is not whether you have anything to hide, but whom you might want to hide your information from. By Suelette Dreyfus and Shanton Chang Last week a US court ordered Apple to create a special tool so the FBI could break a security feature on an iPhone 5c. The phone belonged to one of…
Energy Minister Tina Joemat-Pettersson found herself on the wrong side of the political spectrum on Tuesday after she recommended the nuclear programme fall under the independent power producer (IPP) office. By Matthew le Cordeur, NewsAgency The IPP office is a partnership between the DoE, Treasury and the Development Bank of South Africa. An ANC cabinet member, Joemat-Pettersson also wants the auditor general to form part of the IPP office to ensure even greater transparency and accountability. The office, which ran the successful renewable energy programme, brought investment totalling R149bn, of which R54bn was direct foreign investment, Joemat-Pettersson told the Portfolio Committee…
Finance Minister Pravin Gordhan should ban e-tolls, refrain from hiking VAT and avoid privatisation of Eskom and other state-owned entities, trade federation Cosatu said on Tuesday in a comprehensive statement tabling its budget speech expectations. South Africa cannot afford to repeat the mistakes of the European Union, whose austerity approach worsened the region’s economic crisis, said Cosatu. Instead, government must emphasise infrastructure investment to kickstart the economy. “We must drive economic growth and stimulus through infrastructure development and job creation programmes,” said Cosatu, adding that this is the approach which turned China into the second-largest global economy with 7% gross…