Author: Staff Writer
Cryptocurrency, such as Bitcoin, has been steadily increasing in its popularity as a speculative investment by South Africans and, it appears, is now squarely within the focus of the South African Revenue Service (SARS). This is according to Thomas Lobban, a legal manager for Cross-Border Taxation at Tax Consulting SA, who argues that when a taxpayer files a tax return, SARS may send a request for verification or “audit request” in which it seeks clarification or supporting documentation from a taxpayer. Lobban said the information sought by SARS is inevitably linked to the disclosures made by the taxpayer in that…
The Nigerian telecoms regulator has again extended the timeline for mobile phone operators to update SIM card registrations by eight weeks. The deadline was 9 February 20201. Last December, the regulator directed telecoms firms to stop selling SIM cards while it audits compliance with SIM registration rules. The regulator said in a statement that the ongoing National Identification Number (NIN) and Subscriber Identity Module (SIM) integration exercise has been extended by 8 weeks, with a new deadline of April 6, 2021. It was reported that a total of 56.18 million NINs have been collected by the mobile network operators, the…
US motor giant Ford Motor Company on Tuesday announced R15.8 billion investment in its South Africa subsidiary, cementing its commitment to the local market. This marks the biggest investment in Ford’s 97-year history in South Africa. The investment is expected to create more than 1 200 jobs, increasing the local workforce to 5,500 employees, and adding an estimated 10,000 new jobs across Ford’s local supplier network, bringing the total to 60,000. It also represents one of the largest-ever investments in the South African automotive industry. “This investment will further modernize our South African operations, helping them to play an even…
Wits University’s Tshimologong Digital Innovation Precinct is calling for inquisitive graduates who enjoy exploring apps, understand basic software development and figuring out how it all works, to be part of its newly launched Software Tester Learnership Programme with the support of the Department of e-Gov and application testing specialists, IT Ecology. The programme aims to address the increasing need for quality software testers in the country, a gap only exacerbated by the COVID-19 pandemic. Software testing is a process to evaluate the functionality of a software application and whether it meets the specified requirements. It is an opportunity to identify…
In the past, some software companies were unable to implement the infrastructure needed to deliver solutions to the market place. At the same time, local companies often did not have the training or capabilities to produce developers proficient in the ever-changing technologies demanded by all sectors of industry. Undeterred, Nexah – the Cameronian-based firm – believed it could change the way African software companies are viewed. Its biggest challenge was to create digital solutions for the African market – with the quality on par with international software companies. The company specialises in developing web, mobile, and entertainment services for the…
Tech distribution company Tarsus, which is being acquired by JSE-listed Alviva, announced on Tuesday that group CEO Miles Crisp and finance director Joanne Tanner have resigned to pursue fresh opportunities. The company said both have played a key role in leading Tarsus’s growth over the past decade and in positioning the group as one of the leading broad-based ICT distributors in South Africa. Crisp was appointed as Group CEO in 2014 with a mandate from the board and majority shareholder, Investec, to optimise operations, de-risk funding, strengthen governance and facilitate the sale of the group to a new owner, the…
Economists and experts agree that entrepreneurship has the potential to stimulate economic growth and generate much-needed economic opportunities. The increasing digitisation of the economy has opened up unprecedented opportunities for aspiring micro-businesses to leverage the ubiquity of online platforms to market their businesses beyond their geographical confines. As one of the leading beauty and personal care company, Avon Justine has been at the forefront of harnessing the entrepreneurial spirit of millions of women around the world and giving them the earnings opportunity for 135 years. As the COVID-19 pandemic continues to stall economic growth, Avon Justine is once again allowing…
Although investment activity was subdued across the board in 2020, it was an extraordinary deal-making year for South African venture capital firm, Empowerment Capital Investment Partners. Empowerment Capital and its investment funds – Andzani Ventures, Imvelo Ventures and Thuthuka Nathi Ventures – approved and placed a total of R162 million into 13 South African start-ups between July 2019 and February 2021. Furthermore, R32.5 million is approved for placement in the coming weeks in three exciting new ventures. Started in 2015 by Anton Baumann and Mark Fitzjohn, Empowerment Capital is seeking aggressive growth as it enters the next phase of its business,…
Teraco, Africa’s largest interconnection hub and vendor-neutral data centre provider, announced on Tuesday that it has finalised a new R2.5 billion loan financing transaction to finance the building of its new data centre. Last November, the company announced the construction of a new 38-megawatt hyperscale data centre in Ekurhuleni, east of Johannesburg, South Africa. The new transaction cements Teraco’s commitment to continuing investment in the region’s digital infrastructure and expanding Africa’s largest data centre platform. Teraco’s newly appointed chief financial officer, Samuel Erwin, said that the shareholders and lenders of Teraco have a long-term vision for Africa’s digital transformation and…
Ford and Lincoln cars will be powered by Google operating system beginning 2023 as part of a six-year partnership announced Monday. To drive ongoing innovation, Ford and Google said they are establishing a new collaborative group, Team Upshift. Team Upshift will push the boundaries of Ford’s transformation, unlock personalized consumer experiences, and drive disruptive, data-driven opportunities. This may include projects ranging from developing new retail experiences when buying a vehicle, creating new ownership offers based on data, and more. “As Ford continues the most profound transformation in our history with electrification, connectivity and self-driving, Google and Ford coming together establishes…