Author: Staff Writer
MultiChoice Group, Rapyd and General Catalyst today announced a joint venture aimed at developing an integrated payment platform for Africa to operate under a new company, called Moment. Multichoice owns DStv, Supersport, and other media assets. Moment offers expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable in any manner that their buyers or suppliers prefer. Moment will also offer additional options for consumers to spend and save money more wisely. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic,…
inDrive, a global mobility and urban services platform, is strengthening its B2B segment offering by introducing new solutions in inDrive.Freight and inDrive.Couriers delivery verticals. inDrive will broaden its offering through expanding the team and the acquisition of new tech solutions. The company recently completed a transaction with Master Delivery (MD), a SaaS platform for last-mile delivery, whereas, MD’s team in charge of global expansion, will be joining inDrive to strengthen its capacity for segment development. The transaction also covers inDrive’s acquisition of MD’s exclusive technology and its integration into its existing offering to the B2B segment. The team joining inDrive…
MFS Africa, a pan-African fintech company, is thrilled to announce that it has been crowned FinTech of the Year at a ceremony held last night, 24 May, in Sharm El Sheikh in Egypt. This prestigious accolade recognises the company’s outstanding contributions to the fintech industry in Africa and beyond through payment solutions that make borders matter less for millions of Africans. The Fintech of the Year award is a testament to MFS Africa’s dedication to transforming the financial landscape in Africa through its network of networks that connects mobile money providers, banks, fintech, money transfer operators and enterprises, enabling seamless…
Angola Cables and Orange have reached an agreement to share infrastructure on the West African Djoliba Network. The agreement provides customers with direct access to Francophone markets in West Africa and gives both companies the opportunity to expand their respective global connectivity by sharing domestic networks as well as Angola Cables’ submarine cable network and backbone infrastructure. Angola Cables and Orange offer seamless connectivity to Djoliba Network and other global destinations Rui Faria, Global Commercial Director of Angola Cables, says: “Getting access to efficient and secure digital and cloud services is an essential requirement for any business in today’s gigabyte…
Sage, the leader in accounting, financial, HR, and payroll technology, announces a series of innovative updates to Sage Intacct to help businesses across the world simplify financial consolidations, streamline operations and improve financial planning. “Midsize businesses require speed and agility in the finance and accounting workflows that underpin every facet of their operations,” said Dan Miller, EVP Sage Intacct. “We’re helping them modernize their financial management systems to streamline processes and gain insights, enabling them to drive efficiency, reduce costs, and prepare for rapid growth.” Partial Ownership through Tiered Consolidations This innovative feature streamlines the consolidation process at an entity…
Banking as a Service (BaaS) and embedded finance enabler Ukheshe has recently launched a new innovation hub, Ukheshe Labs, to focus on research and development in the digital payments market. Jason Penton, Ukheshe Co-Founder and Head of Ukheshe Labs, says such an endeavour should be a priority for any company operating in the tech sphere. “As a company grows, there is often a very structured process for business as usual. When that happens, it’s easy to become stuck in mundane processes, leaving product development by the wayside. The idea behind Ukheshe Labs is to prevent this by bringing together highly…
The Coega Development Corporation, through its Capital Raising and Sustainability Business Units, together with the Council for Scientific and Industrial Research (CSIR), are undertaking preparatory work towards the establishment of a Biofibre Hub, or Cluster, in the Coega Special Economic Zone (SEZ). Coega’s partnership with the CSIR offers SEZ investors the best of South Africa’s innovation capability, including the R&D outputs of the National Innovation Clusters and the R&D produced in the country’s leading research universities through the CSIR network. This is critical for the development of new economic sectors. “The CSIR views this partnership as a necessary doorway to…
Virgin Active South Africa will launch its brand new, member-centred app and rewards programme in May to incentivise regular exercise and lifestyle changes. The new app is part of the businesses’ overall mission to connect people to exceptional active experiences – wherever they are in their journey, their budget, or in the world. The app is designed to meet the needs of existing Virgin Active members while attracting potential new ones. The app will track members’ activity and allocate rewards for consistency. The app will also serve as a one-stop-shop for any wellness and fitness related topics. Members can access…
Even though South Africa’s official unemployment rate decreased marginally in the fourth quarter of last year with 169 000 jobs gained in the period, the number of unemployed persons increased by 28 000 to reach 7.8 million. Given the current economic environment, Kaspersky is warning of the risk of cybercriminals exploiting people’s need to find meaningful employment by targeting them in increasingly sophisticated scams. In Africa, 8.7% of individuals and corporate users were affected by phishing last year. This is according to Kaspersky’s Spam and Phishing in 2022 report. Closer to home, 9.7% of South Africans experienced phishing attacks. While these spam…
Tyme, one of the fastest growing digital banking groups globally, has successfully secured two new international investors as part of its pre-series C capital raise launched in January this year. This comes as the group’s South African flagship, TymeBank, celebrates its 7 million customer milestone this month (12 May 2023). Along with the two new shareholders – Norrsken22, an Africa-focused tech growth fund, and Blue Earth Capital (“BlueEarth”), an independent global impact investment firm – Tyme’s shareholders have invested a total of $77.8 million. The funds being raised are intended to further operations in South Africa and the Philippines, for…