Author: Staff Writer

Cybercriminals stole R90 million In physical cash through SASSA accounts from Postbank, a subsidiary of the South Africa Post Office. amaBhungane Centre for Investigative Journalism uncovered the security breach. However, the security breach was kept a secret by both the Post Bank and the Post Office. AmaBhungane said between 16 and 28 October last year individuals presumed to be either employed by Postbank or by a Postbank contractor stole at least R89 459 330 in physical cash through SASSA accounts. The brazen fraud involved illicitly crediting grant beneficiary accounts with large sums and then emptying these accounts out at ATMs.…

Microsoft has added Zulu to its Microsoft Azure Cognitive Services Translator, enabling text and documents to be translated to and from one of South Africa’s official languages across the entire Microsoft ecosystem of products and services. Zulu joins Swahili as the latest African language to be supported, and there are plans to add more of the continent’s most widely spoken languages as part of Microsoft’s mission to build meaningful cognitive products and services that improve accessibility and local engagement. Integrations across Microsoft’s ecosystem include Microsoft 365 for translating text and documents, the Microsoft Edge browser and Bing search engine for…

South African Internet of Things (IoT) startup Consumption Information Real Time (CIRT) has secured just under $500 000 or R7.2 million as part of its Seed Round of funding from E Squared Investments, an Impact Investor and a shareholder in Allan Gray. The funding will take the form of a convertible debt instrument which will be converted into equity at a discounted rate when CIRT’s Series A round of funding is completed. “We are extremely excited to have received this big vote of confidence from a respected local investment fund like E Squared, particularly as it comes hot on the…

A crisis is looming in South Africa as the deadline for the renewal of driving licences arrives tomorrow, 31 March, but with hundreds of thousands of drivers who have still not applied for their new cards. The Automobile Association (AA) is again appealing to the Minister of Transport to reconsider government’s refusal to extend this deadline, and to make provision for a longer renewal period. In August last year, Minister Fikile Mbalula announced that driving licences which expired between 26 March 2020 and 31 August 2021 will be valid until 31 March 2022. In February Minister Mbalula indicated that the…

Engineering design and advisory services company Zutari has announced that Teddy Daka is appointed as its sole CEO bringing to an end the dual role he has shared over the last year with Dr. Gustav Rohde. Dr. Rohde now steps into a Deputy CEO role with responsibility for culture, strategy and new business ventures. Daka will, in addition to leading the company, drive Zutari’s growth initiatives, its focused client management programme and digital transformation journey. The two seasoned executives have worked together very well over the last 15 years in different capacities within the legacy firms of Zutari. Daka recently…

Mobile money adoption and use saw continued growth in 2021, processing a record $1 trillion or R14.5 trillion annually. The industry enjoyed a substantial increase in the number of registered accounts, up 18% since 2020 reaching 1.35 billion globally. This is according to the GSMA’s 10th annual ‘State of the Industry Report on Mobile Money’ published today. The volume of person-to-person transactions were up to more than 1.5 million every hour. The report reveals that one of the most significant drivers of growth was merchant payments, which almost doubled year on year. It also highlights how mobile money continues to…

The war in Ukraine has added concerns to an already tense cybersecurity environment. What’s more, recent international coverage about scammers using QR codes to misdirect funds is fuelling fraud uncertainty. But South African consumers, while wise to remain vigilant, are well protected if they stick to a few simple QR guidelines. Quick Response or QR codes saw a rapid uptick in usage during Covid as consumers looked for a simple and truly contactless method of payment. Unfortunately, bad actors also realised there was opportunity in the new trend and rushed to take advantage of a distracted public. News out of…

South Africa’s power utility announced today that 15 Free State Municipalities and Mangaung Metropolitan owe R16 billion for services rendered, as at the end of February 2022. Eskom supplies electricity monthly in bulk to the Municipalities and Metropolitan which is re-distributed and consumed. “The Municipalities and Metropolitan receive government grants as well as payment for services rendered from their loyal customers, but these amounts remain unpaid for the consumed energy to Eskom,” the power utility said in a statement. “This behaviour threatens the security of supply to the citizens residing in these supply areas, as Eskom cannot continue to maintain…

Discovery Group launches a travel booking platform to take on Travelstart, a one-stop online travel service. Discovery Bank recently launched Vitality Travel, a fully integrated travel booking service with unprecedented discounts and simplified trip management. The comprehensive travel offering is the world’s first shared-value travel platform which channels behavioural savings into the greatest possible savings on flights, holiday accommodation, car hire and holiday packages. “Vitality Travel further expands the value clients get as they continue to monetise positive health and financial behaviours,” says Hylton Kallner, CEO of Discovery Bank. “The new travel offering combines Discovery Bank’s digital payments and platform…

HackerRank, the developer skills company, announced $60 million or R873 million in Series D funding led by Susquehanna Growth Equity. To date, HackerRank has raised more than $115 million or R1.6 billion in total funding. HackerRank will use the funding to fuel continued growth and accelerate its ability to drive technical hiring for the most in-demand roles and skills at companies across the globe. The funding will also be used to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale the team across all departments. “It’s never been more critical to hire the right developer…

The three-year business strategy that 4Sight established in 2020 continues to deliver strong results, with the company reporting a second straight year of double-digit growth in revenue. “The continued commitment from the Board of Directors and the Executive Committee in the execution of our strategy has sustained top-line growth during 2021,” affirms Tertius Zitzke, Group CEO at 4Sight Holdings. 4Sight has achieved a 12.9% year-on-year increase in revenue and 3.6% in gross profit. with basic earnings per share increasing from R1.329 to R1.695 cents per share. A further improvement is a notable increase in debt-to-equity ratio to 36.4% and net…

Liquid Intelligent Technologies, a business of Cassava Technologies, has acquired a fibre pair on the Equiano subsea cable, allowing it to transport traffic up to 12 Terabits, bringing a much-needed increase in international connectivity in Western and Southern Africa. With older sub-sea cables almost at the end of their lifespan, Liquid through the Equiano cable system will address the growing need for Internet capacity supporting cloud services in both coastal and landlocked countries on the continent. The new Equiano subsea cable will link Africa to Europe via the West Coast of Africa when it is ready for service later in…

JSE-listed retailer Mr Price has just launched the period panty – a reuseable, washable panty that does not require the use of tampons and sanitary pads. Mr Price is selling a period panty at R150 and can be used for up to two years and are quite safe to wear. The retailer says the period panty is designed with 4 leak-free and odour-free layers for a more carefree you. How do period panties work? “Period panties absorb fluid and moisture to keep you dry. You don’t need any other sanitary products; no pads, no tampons – just the panty!,” said Mr Price.…

Disney+, the streaming service from The Walt Disney Company, has confirmed launch dates for the 42 countries and 11 new territories set to launch this winter. The streaming service will launch in South Africa on 18 May 2022. South African pricing has also been announced at R119.00 per month, or R1 190.00 for an annual subscription. With exclusive original content and thousands of episodes and movies from Disney, Pixar, Marvel, Star Wars, National Geographic and general entertainment from Star, Disney+ is the streaming home for some of the world’s most beloved stories. Subscribers will have access to Star Wars’ “The…

Huawei’s net profit jumped 76% to $17.8 billion in 2021 despite revenue declines across its business as the company maintained solid operations throughout the past year. However, the company’s revenue was flat at $99.9 billion in 2021. “Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty,” Meng Wanzhou, Huawei’s CFO, said. “Thanks to the enhanced profitability of its major businesses, the company’s cash flow from operating activities dramatically increased in 2021, amounting to CNY59.7 billion. Its liability ratio also dropped to 57.8%,…

Tiger Brands Venture Capital Fund has made its first investment in Herbivore Earthfoods, a Cape Town-based business specialising in the manufacture and sale of plant-based and vegan products. Herbivore Earthfoods supplies major retailers across South Africa and sells directly to consumers through its online platform. The investment in Herbivore Earthfoods is closely aligned to Tiger Brands’ health and nutrition strategy. Together with co-investor, Secha Capital, an early-stage impact private equity firm, the Tiger Brands Venture Capital Fund has become a minority shareholder in the business. Herbivore Earthfoods is co-run by Founders, Chanel Grantham and Davey du Plessis, Operations Head. Tiger Brands’…

Nedbank has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from 1 April 2022. Nedbank will retain its listing on the Johannesburg Stock Exchange (JSE) and a secondary listing on the Namibian Stock Exchange (NSX). Its issued share capital will be unaffected by its listing on A2X. Nedbank CFO Mike Davis said: “Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares.”…

CareerBox, an African impact sourcing non-profit organisation (NPO), has announced the launch of a satellite branch in Cape Town, as part of efforts to alleviate unemployment among youth and women from disadvantaged communities by training and placing them in sustainable, digitally-enabled jobs in the Global Business Services (GBS) sector. “With President Cyril Ramaphosa calling for a new post-covid economy where the GBS sector will drive growth, there has been a growth interest in Cape Town from international investors, and CareerBox is looking to build on this. CareerBox has built a strong presence and track record of success in Durban, and…

FOMO, an app in South Africa focused on connecting users to restaurant specials closest to them using geo location, launched in late 2020 has grown to 100k users and now entering the activities and events vertical. The growth comes as we see an increase in a more money savvy consumer looking to stretch their eating out budget further by visiting restaurants with specials. On the flip side, restaurant owners and businesses are looking at alternative ways to market their establishments outside of the traditional channels like in store marketing and own websites. Ryan Marx CEO and co-Founder says ”The FOMO…

The Tshimologong Precinct and Ekasi Esports are hosting an inaugural eSports Day on 26 March 2022 that will be the first of many hosted every last Saturday of the month. Register for the free event here: https://ekasiesports.africa/esports-gaming-day.php Joburg’s digital innovation ecosystem centred on Braamfontein and the country’s only gaming and esports collective focused on township youth are perfectly positioned to showcase gaming as a career and lifestyle choice. “Tshimologong is helping transform Joburg from a minerals-based to a mind-based economy. On the same day we are launching our first collaboration with the Precinct, there are events dedicated to robotics, coding…

Telviva CTO Antony Russell says that when one walks into the Mobile World Congress (MWC) you expect to be surrounded by glitz and glamour, to encounter startups and multinationals, to interact with science fiction and talk about the future. “MWC 2022 did not disappoint on this front. We touched the future and returned to South Africa with a spring in our step, pleasantly moved by the reception we received as South Africans pioneering in the unified communications and collaboration (UC&C) space,” he says. Russell says that all the innovation on display was premised on connectivity. In other words, how 5G…

The COVID-19 pandemic, without a question, forced the world into the digital realm. It also widened the divide between the haves and the have nots, which was particularly evident in both the workplace and the classroom. The digital world offers many advantages, the most significant of which is increased access to information. We are depriving citizens of education and job opportunities if we do not ensure universal access and digital literacy, and it is time that we realise that internet access – and the digital skills that come with it – is a basic human right. As technology continues to…

MTN Group today announced senior leadership appointments to operating companies in Nigeria, Iran and Sudan, all of them internal candidates, as it focuses on executing growth strategy, de-leverage faster and reveal value in our fintech and fibre businesses. The appointments are effective 1 April 2022. “A vital enabler of our strategy is having the best talent, culture and future-fit skills,” says MTN Group President and CEO Ralph Mupita. “Today’s announcement demonstrates the depth of talent within the Group, as well as the strength of our succession planning.” Following the recent appointment of MTN Nigeria Chief Operating Officer Mazen Mroue as…

South Africa’s automotive group Motus has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 1 April 2022. Motus will retain its primary listing on the JSE Limited and its issued share capital will be unaffected by its secondary listing on A2X. Motus was listed on the JSE in November 2018, following its unbundling from Imperial. Employing over 17 000 people globally, Motus is a diversified non-manufacturing business in the automotive sector with unrivalled scale in South Africa, a selected international presence primarily in the United Kingdom and Australia, as…

The Bank for International Settlements (BIS) Innovation Hub, the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore, and the SA Reserve Bank (SARB) today announced the completion of prototypes for a common platform enabling international settlements using multiple central bank digital currencies (mCBDCs). The project, codenamed ‘Project Dunbar’ explores how a common platform for multi-CBDCs) could enable cheaper, faster and safer cross-border payments. SARB said in a statement that Project Dunbar proved that financial institutions could use CBDCs issued by participating central banks to transact directly with each other on a shared platform. “This has the…