Author: Staff Writer

In the third quarter of 2023, sales of South Africa’s used cars generated a staggering R39.1 billion, according to AutoTrader used car sales data. But for the first time in three months, September used car sales went into negative territory, falling -9% month-on-month from 34,725 sales in August to 31,636. The average used car price crept up minimally to R403,626 from R403,203 the previous month. The total value of used cars sold in September totalled R12.7 billion. While this figure reflects a year-on-year growth of 10%, used car shopping enthusiasm could not match August’s sales of just over R14 billion. Still,…

MTN Group and MTN South Africa have appointed David Behr as the new Chief Executive for the ICT Centre of Excellence (CoE), effective 1 November 2023. Behr, a highly acclaimed industry veteran with over two decades of experience, has extensive expertise in the enterprise arena, including enterprise cloud, cyber security, IOT solutions and platform development, amongst others. In the context of ICT enterprise, a CoE is a centralised unit within an organisation that’s responsible for developing and promoting best practices, processes and standards for the business. Importantly, CoEs also drive platform and solution development, to deploy to business units for…

Gulf Capital, an operationally focused private equity firm investing from the GCC to Asia, announced today the successful completion of its exit from iSON Xperiences (iSON), a tech-enabled emerging markets customer experience and delivery partner that offers Business Process Outsourcing (BPO) services across India and Africa. Gulf Capital and AfricInvest had invested around $50 million in iSON to accelerate the company’s growth. During the partnership period with Gulf Capital, iSON completed three bolt-on acquisitions that allowed the company to expand its geographic coverage across Africa including Egypt and South Africa, in addition to expanding its product offering and capabilities. iSON…

Today, RMB announced the extension of its longstanding partnership with China Construction Bank (CCB) for an additional five years. This collaboration, established in 2009, facilitates cooperative efforts between the two entities, leveraging their individual strengths. CCB has been instrumental in supporting various Chinese enterprises in their investments and trade activities in Africa, while RMB contributes its extensive on-the-ground expertise to enhance these initiatives. RMB CEO Emrie Brown said: “We have, since we first started partnering with CCB, together facilitated over R20bn of trade and provided over R6n of financing to Southern African companies. CCB was also an anchor funder of…

Driven to offer Africans hope, dignity and opportunity, MTN Group this week celebrated the 25th anniversary of MTN Rwanda at a gala event attended by President Paul Kagame and other dignitaries.  President Kagame commended MTN for its commitment over the years: “Who else would have found it easy to invest in a country that had just emerged from our tragic history, as we know it? We took risks, both of us, you took a risk with us, and we took a risk with you, but here, 25 years later I think we can say we are happy. “ Speaking at the…

On Thursday, October 26, 2023, Vodacom Group will commence secondary trading on the A2X Stock Exchange, allowing holders of its ordinary shares to trade on this platform. The primary listing on the Johannesburg Stock Exchange (JSE) will remain unchanged, and the company’s issued share capital will not be impacted by this additional listing. This move offers investors an alternative trading venue, complementing the company’s primary listing. Vodacom Group CFO Raisibe Morathi says, “We are pleased that the secondary listing on A2X has been approved. As we grow and having recently accelerated our growth profile by completing the acquisition of a…

Outsized, a platform for top-tier independent talent in Asia-Pacific, Africa, and the Middle East, is thrilled to announce the successful completion of its Series A funding round. Led by South African venture capital firm Knife Capital, the round also includes investment from several private investors including Adrian Durham, founder of the global wealth management platform FNZ Group. The Investment enables Outsized to strengthen its position as the leading growth markets player in the global $5 billion freelance platform market. The company will grow its team in sales and engineering, expand in existing regions, and accelerate product development for both enterprise…

Write Your Future campaign launched in South Africa last month. The local campaign is spearheaded by a pilot project, which launched in Mashite, Limpopo on 20 September, with plans to roll out countrywide over the next few years. Aimed at enabling high-potential women aged between 18 and 25 through digital education, Write Your Future is being delivered in partnership with Social Coding, a Non-Profit Company (NPC) which helps under resourced communities to leverage technology for a better future. First launched in 2017, the Lancôme Write Your Future, brand social responsibility program has empowered more than 150 000 young women around…

In a country battling an unemployment crisis, Altron is proud to announce the launch of their 2023 IT Services graduate programme.  A survey conducted by the Manpower Group in 2022 found significant talent shortages across most sectors in South Africa, reaching as high as 78%. Among these sectors, IT stands out as one of the most in need of skilled talent. Altron’s 2023 graduate programme will see an intake of over 80 young professionals. “Key to any South African business is the need to upskill and build a talented workforce, a commitment that tackles two of the most pressing challenges facing the…

Mompati Mall is set to transform Vryburg in the North West province with its brand-new shopping experience that will launch to the public on 26 October 2023 with a spectacular grand opening. Vryburg’s very first mall, the ground-breaking new 22 700sqm shopping centre development by Twin City, is set to be a retail game-changer, introducing an eagerly awaited one-stop shopping, leisure and entertainment experience for locals and visitors alike. Named in honour of local icon Dr Ruth Mompati, Mompati Mall will welcome shoppers with a diverse mix of 68 retail stores and dining options and a food court, complete with…