Author: Staff Writer
MTN’s Mobile Money platform, MoMo, with a substantial base of nine million subscribers in South Africa, is poised to elevate itself into one of the country’s leading financial services platforms. This transformation is underway with the introduction of a range of innovative services, which encompass a business wallet, a simplified payments solution, and international remittance capabilities. The MoMo Business Wallet represents a groundbreaking development, offering businesses the means to streamline their operations and optimise efficiency. Beyond facilitating real-time payments from customers without incurring transaction fees, thereby significantly enhancing profitability, it also grants access to a vast customer base that has…
SAP today announced Joule, a natural-language, generative AI copilot that will transform the way business runs. Joule will be embedded throughout SAP’s cloud enterprise portfolio, delivering proactive and contextualized insights from across the breadth and depth of SAP solutions and third-party sources. By quickly sorting through and contextualising data from multiple systems to surface smarter insights, Joule helps people get work done faster and drive better business outcomes in a secure, compliant way. Joule delivers on SAP’s proven track record of revolutionary technology that drives real results. “With almost 300 million enterprise users around the world working regularly with cloud…
In a move to further service its clients and to expand its reach, Durban accounting, and advisory firm Ngubane has re-established its operations in Johannesburg at a new location. This decision follows the recent absorption of its resident directors and personnel in the city by an international firm. As a proudly South African operation, Ngubane’s decision not to be absorbed by another firm guarantees its continued presence in Johannesburg and underscores the distinct advantages indigenous accounting firms have to offer. The company says retaining it presence is not just about geographical coverage; it’s about providing enhanced efficiency, ensuring clients in…
The Proteas, South Africa’s men’s national cricket team, may wear homegrown Khoi Tech smart watches when they compete at the ICC One Day International World Cup. “We are close to finalising a deal to provide Cricket South Africa with our innovative Afriwatch1,” says Seati Moloi, CEO and Founder of Khoi Tech. “What impressed the Proteas’ Technical team is not only the ability to collect and report on group training data, but also sleeping data. This kind of information is critical for players’ recovery during tournaments.” Having only launched in October last year, a vote of confidence like this from the…
Pace Car Rental has raised sizeable debt on the JSE Private Placements (JPP) platform to refinance the business at a more favourable rate, while also investing in further fleet assets. JSE Private Placements – a subsidiary of JSE Limited – is an innovative way of raising private capital. To date, JPP has onboarded 36 deals raising over R6.1bn and investors who have over R18bn of capital to deploy. “JPP is an alternative way for companies and infrastructure projects to raise capital or attract investment. With this platform, we’re building a future fit capital market that pairs up private debt and…
As South Africa’s industrial hub, Gauteng Province steps up its fight against climate change amid concerns of environmental impact. Recognising its significant role in environmental degradation due to its heavy reliance on carbon-intensive energy, Gauteng Province is redoubling its efforts to combat climate change. To enhance these efforts, the Gauteng Department of Agriculture, Rural Development, and Environment (GDARDE) has announced the appointment of an expert environmental consultancy firm, specialising in this field, to craft a comprehensive greenhouse gas (GHG) inventory. This inventory system will provide essential insights into the carbon footprint resulting from the province’s economic activities. The consulting firm…
Secha Capital today announced a first close of its second fund, with R300 million in investments from blue-chip investors. RMB Ventures, 27four Investment Managers, The SA SME Fund and Caleo Capital. Founders of Sechaba Capital are Nombuso Nkambule, Brendan Mullen and Rushil Vallabh who started Secha Capital in 2017. This first close of the R650 million fund enables the team to deploy its unique Operator-Investor model. The fund invests in traditional companies across sectors in Southern Africa that are making the tech-enabled transition into the green economy. “We invest in companies at an inflection point in their growth trajectory. Most…
Pan-African telco and network services provider, Paratus Group today announced that it has entered an agreement as a distributor for Starlink’s high-speed services across the African continent. This agreement will allow Paratus to provide Starlink to its customers across Africa, as operating licenses are awarded to Starlink in those countries. Initially, and with immediate effect, Starlink will be available from Paratus in Mozambique, Kenya, Rwanda & Nigeria before being rolled out to more countries. Starlink recognises Paratus Group as a key African distributor. Starlink provides high speed, broadband internet using a simple, scalable hardware platform that can be easily distributed…
Vodacom KwaZulu-Natal is investing over R1 billion this financial year into the region’s network to increase capacity and resilience and accelerate access to connectivity throughout the province, particularly in deep rural areas. “In pursuing our aim of creating an inclusive digital society, we are making a significant investment into the region’s network. By expanding access to reliable, quality connectivity through the deployment of more sites and network upgrades, we aim to provide an exceptional network experience to our customers. With this effort, we hope to bring the benefits of digitalisation to all communities we serve,” says Imran Khan, Managing Executive,…
The number of used cars sold in August grew by a sizeable 12% month-on-month to 34,725 from 30,978 in July. And the cumulative value of used cars sold to date has now reached over R14 billion reflecting a year-on-year growth of 10.5%, reports AutoTrader. “While new car sales dipped in August, in the used car sphere the opposite happened. This could be attributed to the value benefit pre-owned cars offer buyers, which makes pre-owned cars an attractive option,” says George Mienie, CEO of AutoTrader. During the month of August, on average consumers paid R403,203 for models with a 2018 average…