Author: Staff Writer
Stellenbosch-based FinTech startup Paymenow today announced it has been accepted into Catalyst Fund, the global inclusive fintech accelerator managed by BFA Global, supported by UK aid and JPMorgan Chase & Co. and fiscally sponsored by Rockefeller Philanthropy Advisors. Paymenow’s participation in the seventh cohort of the Catalyst Fund acceleration programme provides the company with £80,000 in grant capital, bespoke and expert-led venture building support for six months and 1:1 connections with investors and corporate innovators that can help them scale. Paymenow offers financial inclusivity through a responsible early access to wages platform, enabled via a secure mobile app, developed specifically…
The Departments of Basic Education and Health are working together to support 204 learners and hostel assistants who have contracted Coronavirus at Makaula Senior Secondary School in KwaBhaca, Eastern Cape. The Department of Basic Education said a team of doctors and tracers has since been sent to attend to the school. Meanwhile, the department is also lending a helping hand to educators and parents who are affected by the incident. As of Monday, COVID-19 infections are now sitting at 101 590 in the country and the Eastern Cape is the third most hardest-hit province with 16 895 cases. According to…
The first participants in South Africa’s first clinical trial for a vaccine against COVID-19 will be vaccinated this week. The first clinical trial in South Africa and on the continent for a COVID-19 vaccine was announced on Tuesday during a virtual press conference hosted by the University of the Witwatersrand, Johannesburg (Wits). The South African Ox1Cov-19 Vaccine VIDA-Trial aims to find a vaccine that will prevent infection by SARS-CoV-2, the virus that causes COVID-19. In South Africa, over 100 000 people have been diagnosed with COVID-19 since March when President Cyril Ramaphosa declared a national state of disaster and lockdown.…
We are the only Registered Satanic Organisation in South Africa, Rev. Riaan Swiegelaar, the cofounder of the first South African Satanic Church, wrote in a church blog. “I sincerely believe we will see more ones rising in the near future.” Swiegelaar co-founded the South African Satanic Church with T/Dr Adri Norton. The South African Satanic Church was launched in February 2020. The Church in South Africa is located in Century City in Cape Town. “It is in the creation of this next step of Satanism in South Africa that I hope to fulfil the need for information and assist in…
All things considered, it’s no surprise that eCommerce has fundamentally changed over the past few months. The COVID-19 pandemic has encouraged consumers to switch to online shopping and contactless payment alternatives to abide by social distancing practices and lockdown regulations. Stats released by the online payment gateway, PayFast show that Generation Z, aged 18 to 24, is paving the way for innovation in the eCommerce space, with Baby Boomers aged 55 to 64, not far behind. “The eCommerce boom was bound to happen, but COVID-19 definitely accelerated industry growth. We’ve seen adoption rates soar following on from the lockdown, this…
The Jaguar I-PACE – the world’s first premium all-electric performance SUV – now offers a new fast, intuitive infotainment system and quicker charging capability, making owning and driving an electric vehicle easier than ever. It now delivers even more technology to make living the electric life simpler and more rewarding than ever. It is the first Jaguar to feature the new Pivi Pro infotainment system. I-PACE now comes with an 11kW on-board charger as standard, enabling customers with access to three-phase electricity supplies to enjoy significantly faster charging: when connected to an 11kW wall box 53km of range (WLTP) per…
Stellenbosch-based FinTech startup Paymenow today announced it has concluded an initial equity investment round with ViaMedia (part of the Digital Ecosystems Group) for a R4 million equity stake. Paymenow offers financial inclusivity through responsible early access to the wages platform, enabled via a secure mobile app, developed specifically for the South African market. Paymenow uses gamification to drive financial education and inclusion amongst its users and is working with South African employers to help move South Africans out of a vicious debt cycle and into a savings mindset. “This equity investment round will bring about operational cash flow in the…
The Asset Forfeiture Unit (AFU) is investigating UIF (Unemployment Insurance Fund) fund fraud and money-laundering. The Sunday Times report stated that nearly R6 million in COVID-19 relief funds – intended for 200 workers at risk of starvation – were diverted to one man. The report states that in an instant Tshepang Phohole went from having R12 in his account to more than R5 million. The money was then quickly sent to friends and businesses over the course of five days. The AFU and police are now probing the UIF to establish whether employees acted in concert with Phohole. The AFU has frozen 28…
Minister of Higher Education, Science and Technology Dr. Blade Nzimande has hailed a partnership between Huawei and the South African College Principals Organisation (SACPO) as a milestone for South African ICT education and building ICT professionals for the future economy. He was speaking during an online launch of the Huawei ICT Academy, which will be rolled out at TVET Colleges across South Africa, preparing the country for the Fourth Industrial Revolution (4IR) and creating jobs and opportunities. The launch follows the signing of a memorandum of understanding between SACPO and Huawei, which aims to establish Huawei ICT Academy at all…
MTN Pulse has announced the launch of the new MTN Pulse Daily, Weekly and Monthly Social Pass bundles promotion, effective immediately to 16 July 2020, which sees the introduction of 1GB valid for a day for R25. The new MTN Pulse Social Pass bundles are an extension to the existing Social bundles. These competitive bundles provide Youth customers on MTN Pulse with access to Instagram, Facebook, WhatsApp, Twitter and YouTube, all in one bundle. MTN Pulse subscribers can now connect with friends and family for longer, without breaking the bank. “Social media platforms such as Facebook, WhatsApp, Instagram, YouTube and…
Information Communication Technology Union (ICTU) said on Friday it was surprised by Cell C’s sudden notification that it plans to retrench as much as 960 out of 2500 total staff complement. This is more than one-third of the total workforce at the Bargaining Level, where the ICTU, which is the sole workers representative, has a vast majority of the membership. ICTU said it is enraged by thus unlawful notification because CellC hasn’t officially notified the Union about its plans to retrench and why Cell C is violating the conditions set out on recapitalization application made out to the Competition Commission.…
South African signatories have called for the South African government to implement five urgent and effective measures to curb the abuse of alcohol. In his speech to the nation on Wednesday 17 June 2020, President Ramaphosa stated that “we will also need to look at further, more drastic measures to curb the abuse of alcohol”. “We now call on the government to draw on the best international evidence, follow the advice of the World Health Organisation and implement those measures which have been shown to be effective in other countries,” said the signatories. These measures are to: Ban advertising of…
The Public Investment Corporation (PIC) has welcomed the arrest of seven suspects allegedly involved in the collapse of VBS mutual bank. This comes after the Hawks on Wednesday arrested four suspects during a raid on 10 properties in Gauteng and Limpopo. A further three were expected to hand themselves over to investigators, while a warrant of arrest for the eighth suspect is yet to be effected, as he is in COVID-19 isolation. The seven are today expected to appear before the Johannesburg High Court, sitting at the Palm Ridge Magistrates Court. The PIC was a significant shareholder in VBS [Venda…
In March this year, FNB announced Cashflow Relief measures which offer customers a 3-month payment breakthrough a separate credit agreement and assistance with credit insurance claims where relevant. The relief measures have been available from 1 April. As of 15 June, nearly 300 000 individual customers were offered payment breaks through a separate credit agreement worth approximately R5 billion. Payment breaks through a separate credit agreement are offered at prime interest rates with 60 months repayment term and no penalty fees on early settlements. In addition, the bank expects to approve approximately R150 million worth of credit life insurance claims…
Government has emphasised its support for the national carrier, South African Airways (SAA). This comes following the publication of the carrier’s business rescue plan on 16 June 2020. “Government, as the sole shareholder of SAA, supports the business rescue plan where it results in a viable, sustainable, competitive airline that provides integrated domestic, regional and international flight services,” said the Department of Public Enterprises. This is to resolve the untenable situation of the current South African Airways specifically for its employees and its creditors, as well as to support important economic objectives. “The aviation industry in South Africa requires the…
South African FinTech company Centbee launched a new feature in its Bitcoin wallet today that allows you to purchase prepaid electricity, airtime and data. This is the realisation of a dream by co-founders Lorien Gamaroff and Angus Brown, finally making the vision for bitcoin as electronic cash a reality. South African Centbee users have been able to top up their wallets with Bitcoin from over 50 000 retail stores since early 2019 and from their South African bank accounts since February 2020. In addition, Bitcoin can be bought from South African cryptocurrency exchanges VALR.com and AltCoinTrader and sent to a Centbee…
The Directorate for Priority Crime Investigation (Hawks) has pounced on eight suspects allegedly behind the plundering and collapse of the Venda Building Society (VBS) Mutual Bank. Four suspects were arrested when the Hawks descended on 10 properties in Gauteng and Limpopo on Wednesday morning. While the further three are expected to hand themselves over to the investigators, the warrant of arrest on the eighth suspect is yet to be effected, as he is in COVID-19 isolation. The seven are expected to appear before the Johannesburg High Court, sitting at the Palm Ridge Magistrates Court. The arrests are a culmination of…
Newly released research by TransUnion shows South African consumers are now more uncertain about the future of their finances through the COVID-19 crisis than they were at the beginning of April, with the number of consumers who have lost their jobs as a result of the pandemic continuing to increase. The ongoing research by the information and insights company to better understand the financial impact of COVID-19 on consumers showed that 16% of respondents financially impacted by COVID-19 have lost their jobs, up from 10% in the first week of April when the first survey was conducted in South Africa.…
Gold-backed ETFs are some of the easiest ways to invest in gold. You’re able to use the price of the commodity to your advantage by trading alongside it. A gold-backed ETF will often trade at one-tenth of the spot price of gold. So, at any one time, your investment will go up or down in tandem with the gold price. This is a proportional relationship that protects you as the investor. You’re protected because you’re only tracking the price of gold, so even when it goes down, you have limited exposure. Limited exposure equals limited risk. Gold ETFs are performing…
The V&A Waterfront is partnering with one of South Africa’s leading Click and Collect service providers, to offer an alternative for shoppers who want to avoid possible exposure to COVID-19 by queuing in shops, but who still want to collect their own goods. The new Click and Collect Drive Through service will allow customers to place online orders with multiple V&A Waterfront stores, and then to collect their parcels themselves. The drive through facility will be positioned at the Entrance One of Victoria Wharf Shopping Centre nearest The Table Bay Hotel. The Kiosk itself will be situated outside, in front…
South Africa has recorded a further 88 COVID-19-related deaths, bringing the total number nationally to 1 568. “Regrettably, we report a further 88 COVID-19 related deaths: 73 from the Western Cape, nine from the Eastern Cape and six from Gauteng. We extend our condolences to the loved ones of the departed and thank healthcare workers who treated the deceased,” Minister of Health Dr Zweli Mkhize said on Monday. The Minister also announced that there is a total of 73 533 COVID-19 cases. The provincial breakdown of COVID-19 cases is as follows: Western Cape 44 143; Eastern Cape 10 597; Gauteng 12 193; KwaZulu-Natal 3 959; North…
President Cyril Ramaphosa has encouraged the youth to work with the government in creating an inclusive economy that will rid South Africa of inequality, poverty and unemployment. “There has to be life beyond COVID-19. We are looking forward to creativity, innovation and new ideas from young people and we want young people who are going to speak out and step forward,” the President said. President Ramaphosa on Tuesday participated in an interactive panel session with young people as part of the virtual Youth Day commemorations. Youth Day pays tribute to the school pupils who lost their lives during the 16…
The South African economy has suffered tremendously due to the global and national COVID-19 epidemic. As we gradually move back to ‘normal’, many consumers are taking advantage of incredibly low-interest rates to secure new vehicle purchases. Discovery Insure CEO, Anton Ossip, announced the launch of a new product in their offering, providing vehicle warranty cover to its clients. The new product, available exclusively to Discovery Insure clients, comprises comprehensive and market-leading mechanical breakdown and electrical failure cover for 36 critical vehicle components, with no cover limits. According to Ossip, “Our driving behaviour technology allows us to collect telematics data for…
In South Africa, manufacturers experience significant challenges. From the stuttering economy to the lack of skills development, there are obstacles that prevent industries from pushing forward into a new era of automation and robotic solutions. Due to the effects of COVID-19, many businesses might not have a choice but to rapidly adopt this technology – especially if they wish to survive in this new contactless society. Automation is no longer a subpoint in a five-year roadmap, but an item of critical importance. Stringent health and safety measures have always been a massive concern for manufacturers, but many organisations will need…
As the number of COVID-19 infection cases in the country continues to rise, with the national death toll now at 1080, President Cyril Ramaphosa has offered his condolences to the families of COVID-19 victims, who have succumbed to the virus. “Each one of these deaths is a tragedy. Each one represents a unique life: a parent, a child, a sibling or a friend. Each one leaves behind a family and a community in mourning. “I would like to offer my condolences to all South Africans who have lost someone they love, and wish them strength, courage and hope in the…