Author: Staff Writer
Convergence Partners has announced the acquisition of a strategic stake in 42Markets Group, an incubator, investor and builder of high-growth specialist businesses in the financial and capital markets sector. The introduction of Convergence Partners as new investors will enable the 42Markets Group to accelerate growth through the buildout of its product set and further geographic expansion. The investment is through its Convergence Partners Digital Infrastructure Fund (CPDIF), a $296m private equity fund focused on investing in digital infrastructure opportunities across sub-Saharan Africa. 42Markets Group is focused on the digital transformation and improved efficiency of capital markets in Africa. The business…
The 2023 Shanghai Auto Show is opening its doors for an electrifying new edition and Maserati is thrilled to show the world its latest full-electric creations, marking the historic moment of being the first Italian luxury brand to produce 100% electric vehicles. And of course, China is the cradle of this fascinating and exciting revolution mobility – not only in terms of innovation but also of forward-thinking and embedded interest in the luxury market – and the ideal venue for the global premiere of Maserati Grecale Folgore. On this special occasion, the Trident’s first full-electric SUV is in good company,…
Capital Appreciation, a FinTech group listed on the JSE, is buying Dariel Solutions, the holding company of Dariel Software, for a total consideration of R131,2 million. The transaction will be settled through a combination of cash and the issuance of treasury shares. Dariel will be part of Capital Appreciation’s software division. “Dariel fits our model of investing in established, asset-light companies that deliver innovative and disruptive FinTech solutions to mainly institutional clients, with a culture and business ethos well-aligned with that of the Group,” Capital Appreciation CEO, Bradley Sacks, said. “We have experienced significant growth in our businesses due to…
SnapScan, the Cape Town-based fintech company that launched its QR code payment technology in 2013, is no stranger to developing innovative payment tools. Its latest product, the SnapStore Pro card machine, is no exception. After years of supporting small businesses with convenient, mobile payment solutions, the fintech has recently leveraged its partnership with Standard Bank to develop an exciting new card machine to improve the payment experience for both businesses and their customers. “SnapScan and Standard Bank both recognised the need to provide the most in-demand payment options for small businesses with the kind of fintech pricing and experience they’ve…
The Invigilator App, a local Covid 19 education startup, has been scaled for the global market. Mexico, India and Australia are the first to integrate the app into their tech-education management system. The startup has nearly one million local students using its platform. The Invigilator was launched three years ago, when the coronavirus pandemic hit our shores, as an education-focused assessment monitoring app. Its main objective is to face-check and track students taking online or face-to-face courses, as well as an anti-plagiarism feature that ensures students submit original work. The uniqueness of the app is that it opens up education…
Eskom said today that Stage 6 loadshedding will continue to be implemented until 05:00 on Saturday. Thereafter, Stage 3 loadshedding will be implemented from 05:00 until 16:00 and Stage 4 loadshedding will be implemented from 16:00 until 05:00 on Saturday. This cycle will be repeated on Sunday until 05:00 on Monday morning. These loadshedding stages may change at short notice. Eskom will publish a further update as soon as any significant changes occur. Breakdowns are currently at 15 930MW of generating capacity while the generating capacity out of service for planned maintenance is 6 505MW. Over the past 24 hours…
Bolt, the leading on-demand mobility platform in Africa, has introduced a driver selfie verification feature to increase passenger safety by combating driver impersonation. The feature has been fully rolled out to all drivers operating on the Bolt platform across South Africa. It will require drivers to take a selfie, thus verifying their identity before going online. The driver’s selfie will be matched against the Government database (Department of Home Affairs) to ensure the right driver is behind the wheel. Drivers, at random, will also be prompted occasionally to share a live selfie to ensure that the correct driver is behind…
inDrive, the global mobility and urban services platform, is launching inCode 2023, the company’s inaugural annual global hackathon. inCode will award €16,000 for the top ideas to make ride-hailing safer and more inclusive. inDrive invites the world’s top tech talent to register teams of 1 to 6 people, whose entries will be judged by inDrive experts on idea, impact, code quality, UX/UI quality, and feasibility. The inCode hackathon challenges innovators to: Improve safety: Discover ways to make ride-hailing safer and more secure for all, so both riders and drivers have complete peace of mind. Advance accessibility: Propose methods to make…
CYBER1 Solutions, a cyber security services company with 26 years of industry expertise, has announced the expansion of its European presence, and the appointment of Hilbert Long as the General Manager for the region in line with the EMEA expansion plans. The company’s European office will be based out of London and with staff across EMEA. The business aims to grow its footprint in the region by expanding its set of cyber security services to current and future customers. “Our strategy is to grow the entity to become a self-sustaining fully-fledged business within the European market,” says Long. “We aim…
African insurtech aYo Holdings, created by telecommunications giant MTN, has launched its operations in Cameroon with innovative insurance products that offer local consumers affordable accident and death cover. aYo launched in January 2017 in Uganda and has since reached 20 million customers across Uganda, Ghana, Zambia and Côte d’Ivoire, whilst other markets being readied for launch later this year. The company has paid in excess of $2,2 million in claims. Laetissia Enonga CEO of aYo Cameroon, estimates that less than 2% of Cameroon’s population currently has insurance. “Most people think insurance is a luxury product, but we want to show…